The Family Team are commencing a series of myth busting blogs to help correct some common misunderstandings in the family law world.
This statement in the title is not true!
The Final Order is the last step in the divorce process. It confirms that you are no longer legally married. Yet, importantly, the Final Order does not deal with the financial claims that each spouse has. When a marriage comes to an end each party has certain financial claims against the other party in relation to their property, assets, income and pensions. Each party has the ability to ask the court to decide how they should divide up their finances and they can also seek ongoing income support through the payment of maintenance.
These claims do not end because a divorce has been finalised. In order to resolve both parties’ financial claims it is necessary to have a consent order approved by the court (or a financial order in court proceedings if agreement cannot be reached). A consent order will make any financial agreement between the parties legally binding and will also end each party’s financial claims. This will provide both parties with protection from any future claims from their former spouse.
We would encourage you to obtain early legal advice to ensure you understand the impact divorce may have on your financial position. Visit our Family services page here and contact one of our specialist team.