No fault divorce came in in April 2022. This has made the procedure much more amicable and “user friendly”. There is no longer a need to cite the reasons for divorce which would often cause unnecessary animosity.
Whilst the divorce process is smoother and easier, it appears that people are forgetting to tie up their finances.
Since April 2022 when the divorce process changed, according to the Ministry of Justice, there have been 31% fewer Financial Applications to the Court, despite there being a significant rise in divorces.
During the divorce process, couples have the option of applying for a Financial Order whether it be by agreement or with the assistance of the Court. Without a Financial Order neither party are protected against future claims from the other. Often couples do not realise that a Financial Order can also consider support by way of income (from the other).
Couples may consider at the time of divorce that they do not have any financial issues to resolve. This is not to say their financial circumstances will remain the same, they may improve significantly. Without an Order providing for a clean break, their claims will always remain open against one another.
Getting divorced amicably is better for everyone, however forgetting to deal with financial matters can have a significant impact on future finances.
Should you wish for a free half hour consultation, please do not hesitate to contact us on 01274 861096 (Liversedge Office) or 01423 637272 (Harrogate Office) email@example.com