We’re divorcing and don’t have any assets to divide, do I need to do anything?

On behalf of Attwaters Jameson Hill posted in Divorce on Thursday, August 10th, 2017

Yes, you do. Even in situations where both spouses trust each other, and neither intends to make a financial claim against the other, there is always a risk that if one of the spouse’s financial circumstances were to change, then the other party might decide at that stage to make a financial claim.

 

What the future could hold

You may not have any assets to divide now, but this situation could change in the future. So, it’s always advisable to have your arrangements incorporated into a court order when you divorce, to prevent your partner from bringing financial claims against you at some future date.

Without a Consent Order in place, the document that confirms the financial settlement what you have agreed between you, your finances aren’t considered to be finally settled. Whatever you may agree informally, it’s not binding unless you get a Consent Order drawn up.

Without a Consent Order, it’s possible for either party in a divorce to return to court at a future date seeking an order appropriate at the time the application is made. This could mean for instance, that if by that time, you were earning a considerable salary, or had come into money, you might be forced to provide financially for your former partner.

A Consent Order usually contains a clause which is final and binding. It prevents either party from making any further claims against the other for life, or against their estate should they have died.

 

Obtaining a consent order

You can apply for a Consent Order once your decree nisi has been granted in the divorce proceedings, but not before. We can prepare the document for you; it must be accompanied by a statement of information form in which both parties complete their relevant sections. We will then file it with the court, so that a judge can make an order and it becomes legally binding. You won’t need to appear in court, it can all be done by post.

 

 

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