The Big Divorce Myth
Many divorcing couples believe that once they go through the divorce application process and obtain their Final Order, they are officially divorced and have severed their financial ties with each other.
This could not be further from the truth. Whilst you may be divorced, your ex-spouse could make a future financial claim against you if you have not obtained a Financial Order.
For instance, if you came into some inheritance or won the lottery after divorcing and you did not get a Financial Order, your ex-spouse could be entitled to this money and your assets. Also, if you pass away, your ex-spouse could make a claim on your estate under the Inheritance (Provision for Family and Dependants) Act 1975, by outlining that they have not received reasonable financial provision in your Will or through intestacy.
When divorcing, it is imperative that you sever financial ties when divorcing by obtaining a Financial Order, which can be obtained either through a ‘quickie divorce’ way or the lengthier court process.
What is a ‘Quickie Divorce?’
The term ‘quickie divorce’ is a term which is often misused and confused. The divorce process has two elements to it; the divorce itself and the settlement of the matrimonial finances. In reality, there is no ‘quick’ way of getting divorced. Although applying for a divorce has become easier, the process itself can take over six months from issuing the application to receiving the final order. The purpose of the period between applying for the divorce and receiving the Final Order is to resolve the financial matters. Many couples are able to come to a resolution within this time which means the divorce process had been seamless and does not continue on for several years; It is also the least expensive way of divorcing.
The ‘quickie divorce’ is the fastest way to get a divorce and sever financial ties with your ex-spouse. Order to get one, divorcing couples need to have agreed on financial arrangements going forward. This is involves exchanging full and frank financial disclosure of all your assets to each other. Once you have come to an agreement, you can instruct a solicitor to issue an application for the divorce.
Your solicitor will discuss the agreement with you and prepare a Financial Consent Order. Once drawn up, your ex-spouse’s solicitor will review the Consent Order and advise them respectively. Your Financial Consent Order should include what is called a ‘clean break’ clause to ensure your ex-spouse cannot make any future financial claims against you. A financial disclosure form would need to be completed by both parties alongside the order. This provides the court with a snapshot of your current financial position, as well as and your future financial position once the agreement has been implemented.
Once the Financial Consent Order is signed and witnessed by yourself and your ex-spouse, your solicitor will submit this to the court. The court will review the Financial Consent Order and, if approved, they will seal the order. When you receive the sealed order, financial ties with your ex-spouse will be severed.
This ‘quickie divorce’ means that the entire divorce process is completed in a straightforward fashion. This relieves a significant amount of stress and anxiety for both parties and avoids substantial costs incurring for both sides.
Seeking Legal Advice
If you want a quickie divorce and would like to discuss your financial position or draw up a financial consent order, please contact our Family Team by emailing info@barrettandco.co.uk or calling us on 0118 958 9711.
