Financial Orders
Our dedicated Financial Order Solicitors in Cheshire will help you conclude the financial settlement in a divorce or civil partnership dissolution. We negotiate a fair outcome for both parties so you can move on without the risk of a future claim.
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Our specialist Financial Order Solicitors are professionals with many years of experience in dealing with financial matters during divorce proceedings. Rowlinsons is with you every step of the way, from guiding you through the preparation of the financial agreement to acquiring a financial order.
As accredited specialists of the Resolution and Law Society Family Law accreditation schemes, we’re committed to negotiating the fairest solution in the smoothest most amicable way.
Our expert team is here to help you and your ex-partner reach a reasonable agreement through mediation, collaborative law, or solicitor negotiations so you can move forward and start your new life after divorce on the right footing.
Call our team today to see if we’re right for you or complete the enquiry form and we will get back to you. You can also arrange a visit to our offices in Frodsham or Runcorn, or we have meeting facilities in North Wales.
The term financial order is a general term for the proceedings following a financial settlement that make the financial agreement and all terms and conditions held within it legally binding.
There are a variety of financial orders, depending on the terms of the agreement, including clean break orders and financial consent orders.
Once a financial order has been approved, the parties involved are subject to its terms which can be enforced by the court. Without it, the settlement cannot be legally binding leaving you open to the risk of a further financial claim from your partner in the future.
A clean break order terminates all financial ties with your ex-partner. This effectively bars each party from bringing any further claim against the other in years to come. When reaching an agreement over a financial order, clean break orders can be preferred depending on the relationship between the parties, their childcare arrangements, or if there are any substantial debts.
In cases where ongoing payments are still made between the parties, if it’s in the couple’s best interests to make a clean financial break, then a lump sum will be made instead of ongoing payments.
A Financial Consent Order sets out the financial agreement reached by both parties either through mediation or lawyer negotiation in a divorce or dissolution of a civil partnership. When the couple independently reaches a mutual agreement, they may apply for a consent order to make this legally binding. The advantage here is there’s no need for a court hearing.
Once the couple has agreed on the terms of the financial consent order, they can sign it and submit the document to the court. Although the court is not obliged to approve the consent order because the couple themselves agreed to its terms the court will be heavily influenced by its content – providing each party receives independent professional legal advice. Once the judge has approved the consent order, it will be legally binding, and its terms can be enforced.
The Financial Order Solicitors at Rowlinsons can guide you through financial negotiations and help with drafting a robust Financial Consent Order to ensure the best financial outcome for you.
Once married, the court states that on divorce the financial assets (and liabilities) of both parties can be considered and divided accordingly. These financial arrangements are managed separately from the divorce proceedings.
Financial assets won’t necessarily be split 50/50 as there are several factors for the court to take into consideration first.
Section 25 of the Matrimonial Causes Act outlines exactly what information the court will examine which includes the circumstances of the parties involved, any dependents and their obligations and responsibilities. The court will look at financial assets, property, savings, and investments. It also considers earning capacity and the standard of living enjoyed within the marriage.
Couples must make full disclosure of the information outlined in section 25. Any failure to do so, intentionally or not, could delay the process or even result in a future financial claim. Anyone found deliberately trying to hide assets can be fined by the court or having other more serious sanctions imposed.
At Rowlinsons we can help if you think there’s a risk that your ex-partner may try to avoid disclosure or hide their assets. Our expert Family Lawyers will also advise you so you can determine precisely what you need to disclose and what you may be entitled to. We’ll advise you fully so a fair and reasonable financial settlement can be made.
Once the financial agreement has been reached there is a separate process to ensure the settlement is legally binding.
Where possible, it is often best to reach a mutual agreement amicably out of court, backed up by a court order. If this is not possible the court can step in to decide the fairest way to split the assets in the marriage. The court has full authority to decide the terms of the agreement and to determine what financial order shall be made.
During a divorce, financial consent orders may affect all assets owned by either party. While someone may have bought a property before the marriage, and not have transferred any rights to it to a spouse, the family home may still be considered a “matrimonial asset”.
You will be allowed to retain any asset considered “non-matrimonial”, however proving your home falls under this category, whether during mediation or to a court, requires a high level of legal expertise.
Our Financial Order Solicitors can help you reach the best outcome for your divorce. Contact Rowlinsons Solicitors today to assess your case, and find out what you are entitled to in your Financial Order.
Our Financial Order Solicitors will often advise clients to reach an agreement regarding their financial orders without starting court proceedings. The process of applying to the court, attending multiple hearings, and processing large amounts of financial documents can be stressful and time-consuming, which is why we aim to resolve issues through out of court mediation and collaborative law.
However, if these methods are not successful, either you or your ex-spouse may apply to the court. At this point, the process of full financial disclosure is formalised, and both parties will be required to provide financial statements, as well as any other relevant documentation detailing their respective financial position. You will be given a first hearing date, in which the court will assess your case and decide what additional information is required.
A process known as Financial Dispute Resolution (FDR) hearing will begin, where the judge will act as a mediator between the parties. The aim is to avoid a final hearing, and reach a resolution to all issues between you and your ex-spouse. Should this process fail, you will be provided with a date for a Contested Final Hearing, the outcome of which is approved by the court, and legally binding.
The whole point of a financial order is to finalise financial matters between a divorcing couple. Therefore, it can be difficult to change although not impossible. Only in exceptional circumstances can you try to change a financial order. For instance, if previously undisclosed information comes to light. In that case, the court would have to take into account whether it is worth the cost of pursuing a challenge. That’s why it’s essential to get the professional legal advice you can trust to help you throughout the process.
As they would be subject to the terms of the financial order, they are obliged to abide by them. Once the financial order is approved, either party can take the agreement back to the court to enforce any of the terms.
No. Before you can obtain a financial order, you need to have started divorce proceedings. You can’t submit any financial paperwork for the court to approve until you’ve reached the first stage of proceedings which is Decree nisi.
You could, but it’s strongly advisable to finalise all financial matters when divorcing or dissolving a civil partnership. Without a financial order, you’re both open to financial claims from each other which means your best interests could be at risk.
Our family law solicitors help clients in Cheshire and North Wales from our offices in Frodsham and Runcorn. We’ll assist with preparing or reviewing your financial consent order in a divorce. If you understand your rights, obligations, and entitlements you’re more likely to get the best possible outcome. That’s why we offer clear, straightforward legal advice without the jargon on all financial matters during a divorce. For more information on our Family Law services get in touch today.
We always aim to achieve amicable resolutions swiftly. However, when litigation is necessary, we have the experience and know-how to deal with the courts effectively
By choosing Rowlinsons for legal advice regarding financial orders, you are assured of having the best legal expertise from expert Financial Settlement Solicitors. We are committed to providing exceptional levels of client care and will work closely and considerately with you to help find the best outcomes.
With expert Family Law & Divorce Solicitors based in our Runcorn and Frodsham offices, we are recognised as one of the leading teams of Divorce Solicitors in Cheshire. We regularly help clients throughout the Northwest region including St Helens, Widnes, Warrington, Chester, and Northwich. We are able to act for clients right across England and Wales, so talk to our team today.
Call us today for an initial no obligation call or click here for a call back. We also have meeting facilities in North Wales for Family Law clients.
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