Securing Your Financial Independence Post-Divorce
Divorce not only ends a marital relationship but also necessitates the clear division of financial ties. A Financial Remedy Consent Order, particularly one that facilitates a clean break, ensures that both parties can move forward without lingering financial obligations. At Waely Law, our experienced family law solicitors are dedicated to guiding you through this process, safeguarding your financial future.
A Financial Remedy Consent Order is a legally binding agreement approved by the court that outlines how assets and finances will be divided following a divorce or dissolution of a civil partnership. This order can encompass various financial aspects, including property division, spousal maintenance, and pension sharing. When such an order includes a clean break clause, it signifies that neither party can make future financial claims against the other, effectively severing all financial ties.
A Clean Break Order is a specific type of financial remedy order designed to ensure that, post-divorce, both individuals achieve financial independence from one another.
This means that after the division of assets and any agreed-upon financial settlements, neither party can make any future financial claims against the other. This order provides clarity and finality, allowing both parties to move forward without financial entanglements.
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Finality and Certainty
Both parties have a clear understanding of their financial standings, eliminating future uncertainties.
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Financial Independence
Each individual can manage their finances without considering potential claims from their ex-spouse.
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Protection of Future Assets
Any assets acquired post-divorce, such as inheritances or lottery winnings, remain solely with the individual, free from potential claims by the ex-spouse.
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Inflexibility
Once approved, altering the terms of a clean break order is challenging, even if significant changes in circumstances occur.
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Risk of Unfair Settlements
Without thorough consideration and legal guidance, one party might agree to terms that do not fully protect their financial interests.
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Mutual Agreement
Both parties must agree on the division of assets and the decision to implement a clean break.
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Full Financial Disclosure
Each party provides a comprehensive account of their financial situation to ensure transparency and fairness.
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Drafting the Consent Order
A solicitor drafts the order, detailing the agreed-upon financial arrangements and including the clean break clause.
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Court Approval
The drafted order is submitted to the court for approval. A judge reviews the terms to ensure fairness before making it legally binding.
While a clean break order can sever financial ties between ex-spouses, it does not eliminate obligations related to child maintenance.
Child support is a separate matter, and parents are legally required to provide for their children, regardless of any clean break agreement between them.
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Yes. Even if you have limited assets now, a clean break order prevents future financial claims, protecting any assets you may acquire later.
While possible, it’s advisable to seek legal guidance to ensure the order is fair, comprehensive, and meets all legal requirements.
No. Child maintenance obligations remain separate and are not negated by a clean break order.
The timeline varies but typically takes from a few weeks to a few months, depending on court processing times and the complexity of the agreement.
No, a clean break order is generally final and cannot be modified in the future, except in very rare and exceptional circumstances such as fraud, material non-disclosure, or a significant unforeseen event (a “Barder” event).
At Waely Law, we make the legal process clear, efficient, and stress-free. Here’s what you can expect when you reach out to us:
- GOV.UK: Money and Property When You Divorce or Separate – Government guidance on how courts decide financial settlements during divorce, including the concept of a clean break.
