Financial Consent Orders

A financial consent order is a legally binding court document that formalises financial agreements after divorce or civil partnership dissolution which protects both parties from future claims. It makes an individual’s financial agreement with their ex-spouse or civil partner legally binding which covers the division of assets such as property, savings, pensions and debts. Additionally, it may be able to include arrangements for spousal maintenance. It can also include a “clean break” clause which would permanently sever financial ties between the two parties so that there is no risk of potential claims in the future.

Purpose of a financial consent order

A consent order provides legal protection and certainty as the terms are enforceable through the Family Court once enforced by the judge. It ensures that both parties comply with the agreed financial arrangements and prevents future disputes over property, pensions or maintenance. Mortgage lenders and pension providers can also release or transfer assets, as they also require a court order. If there is a breach, it can be challenged in court, therefore it is essential to get the correct advice and take the optimal approach for the situation in order to secure the right division of assets.

Obtaining a financial consent order

To obtain a financial consent order, the two parties must first agree on how they will divide their finances. Mediation is often a recommended method when attempting to reach a fair settlement. A solicitor can then be hired to draft the order which clearly details finances and assets Once the order have been written up, the forms will then be sent to the Family Court along with the £60 court fee. It is then up to the judge to review the order submitted and determine whether they deem it to be fair. Once the order is approved by the judge, it becomes legally binding and a breach of the order will be considered contempt of court. In the case that the judge deems in unfair, they may request changes to be made before approving the order.

Breach of a financial consent order

The breach of a financial consent order can result in severe legal consequences, such as contempt of court, as it is a deliberate disobedience of a court order without an acceptable excuse. If the application for contempt of court is successful, it can result in financial penalties and in some cases, even imprisonment. The court might also impose custodial sentences in cases where all other enforcement measures were unsuccessful. On top of that, the breach of a court order can expose a party to legal costs which could result in them paying foe the other side’s enforcement costs. It is crucial to understand the legal framework for dealing with these types of breaches and the enforcement mechanisms available in court in order to navigate these situations effectively.

Alteration to a financial consent order

In cases where a party wants to alter a financial consent order, they must follow the legal process outlined by the Family Procedure Rules 2010. This process requires the party to submit a variation to the court, which is often a necessary step if there is a significant change in circumstances or if the original order continues to require ongoing payments or obligations. It will then be up to the court to assess the proposed changes and if they deem them to be fair and reasonable, they will approve it. To avoid any delays or complications in the process, it is essential to ensure that all the documents are prepared and submitted without error.

If you require expert legal advice or support with any aspect of your matter, our experienced team of solicitors at Aston Bond are here to help. We are committed to providing clear, practical and tailored legal solutions to help you move forward with confidence. Contact our team today on 01753 486 777 or email info@astonbond.co.uk to discuss how we can assist you.