A common misconception is that once you are divorced, or your civil partnership dissolution is received, all ties, including financial ones are severed.
The complete opposite is true. In the absence of a financial order which has been approved by the Court, financial claims remain live and can be made against the other party many years into the future.
Thus, each case, regardless of the value of the assets must seek to obtain a financial order.
There are various alternative ways to settle disputes and the end goal is to either agree a financial settlement which can be embodied within the order or apply for financial remedy whereby the Judge can impose an order on the parties.
Every aspect of the family finances should be included in the order to provide clarity for the future.
In each case, the parties would be encouraged to seek a ‘clean break’ whereby they each take a certain amount of the assets and cannot claim against the other in the future. In some cases, this may not be possible.
For anything further, one of our specialists would be delighted to meet you to talk through your options and answer any questions. Please contact us at any time.