Post Divorce Fiance Claim Solicitors

+ Does Getting Divorced Mean We Are No Longer Financially Tied To One Another?

No. Getting a divorce or dissolution of your civil partnership does not automatically sever the financial responsibilities and obligations you have to one another. Your ex-spouse still has the same claim on your wealth. This right exists until your ex remarries or the divorce court approves a financial consent order with a clean break clause.

+ Can I Still Make a Post-Pivorce Financial Claim If I Remarry?

The so-called ‘remarriage trap’ is a situation where someone marries a new partner before finalising a financial order in their divorce. Doing so waives the right you have to a claim on your ex-spouse’s finances. This can make things very complicated if there are still assets to split.

If you intend to remarry before the financial settlement from your previous relationship has been finalised, it’s important to get legal advice as early as possible and make sure you deal with the finances from your previous marriage first.

+ Is There a Time Limit For Making a Financial Claim After a Divorce?

There is no time limit on making a claim against your ex-spouse if you do not have a financial order in place. It is common for divorcing couples with no assets to neglect to make a formal financial settlement, but this can leave you vulnerable to a claim on any wealth you acquire later on.

+ Could My Ex-Spouse Have a Post-Divorce Claim?

A former spouse is entitled to a claim on your money or assets at any point up until they re-marry unless you obtain a court-approved financial order with a clean break clause. While assets acquired post-separation may be excluded from the financial settlement, there are exceptions. Any new asset you acquire is not necessarily out of reach of your ex-spouse and the law surrounding financial remedy proceedings can be complex.

This means your ex-spouse could claim your money or assets after your divorce. Whether they are successful or not, is another story but this could create more stress for you at an already difficult time.

If you’re thinking of buying property, starting a business, or you’re expecting to receive a large inheritance before your financial settlement is concluded, it’s essential to get specialised legal and financial advice beforehand.

+ How Are Finances Split In Divorce?

There are certain considerations the court will make when approving a financial consent order or making a financial order. Section 25 of the Matrimonial Causes Acts 1973 sets out the elements for the court to consider:

• The Income, earning capacity, property, and other financial resources of both parties
• The financial needs, obligations, responsibilities and standards of living of both parties
• The age of the couple and the duration of their marriage
• Any physical or mental disability of either individual
• The contributions each party made to the welfare of the family including taking care of the home and any children
• The value of a benefit such as a pension that will be lost to one person when the couple split
• The conduct of either party, but only if it was so bad that it’s impossible to ignore as a factor.

+ What Is a Clean Break?

Legally a clean break refers to a court order that ends all financial ties between a couple for good. Even if a couple has no money, they should apply for a Clean Break Order at the time of the divorce. For couples with straightforward assets to split, a clean break clause can be written into the financial consent order.

Sometimes it is not possible to have a clean break right away, such as when there is spousal maintenance to pay, but plans can be put in place to defer the clean break until a specific event in the future.

Once a Clean Break or Financial Order including a clean break clause has been implemented the financial ties are cut between you and your spouse. This means you are as financially free from one another as if you had never been married.

+ How Are Pensions Dealt With In Divorce?

A pension can be one of your highest-value marital assets. Pensions are often overlooked during the financial settlement, perhaps because they are not front-of-mind in the same way as the family home or a joint bank account. This often makes pensions a source of post-divorce claims.

The three most common ways to deal with pensions are:

• Pension sharing – The pension pot is split and the person receiving their share opens their own pension plan, often with the same provider, and starts dealing with it independently.
• Pension offsetting – The value of the pension is calculated and the holder gets to keep their pension while the other receives cash or assets of the same value.
• Pension attachment order – A portion of the pension is earmarked for the benefit of the other spouse. This is rarely done because it does not allow for a clean break and the person in receipt of the attachment order loses the pension benefit if they remarry.

+ When Should You Apply For a Financial Court Order?

It is recommended that you finalise your financial settlement at the point of your divorce. Solicitors often advise you to apply for a consent order between the conditional order and the final order.

The consensus is that it’s a good idea to get it done and dusted while you’re still married to try and avoid any painful financial wrangling later on. It’s better to end your financial ties sooner rather than later and avoid letting the financial remedy proceedings drag on too long, for the benefit of everyone involved.