Finances on Divorce

Issues relating to shared assets (e.g. the matrimonial home) and ongoing financial arrangements e.g. maintenance for spouse/children are possibly the most complex aspect of any divorce settlement.

When you divorce, you and your spouse have the right to make certain financial claims against one another in the event of a divorce. These include claiming a share of property, capital assets, pension funds and income.

These claims continue during marriage and after divorce unless you obtain an order, either by agreement (known as a “consent order”) or imposed by the court, setting out the terms of the financial settlement. This is why it is essential that you finalise your financial arrangements by way of a Court approved order upon divorce - to safeguard you from potential future financial claims and upheaval.

In the event that you are unable to reach agreement on the division of assets and financial provision with your spouse, the Court has wide powers to address these financial matters.

Further Reading - Finances on divorce

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