Divorce is not the End
Since the Divorce Dissolution and Separation Act 2020 came into effect on 6 April 2022, there have been misconceptions that once you receive the Final Order (previously referred to as the Decree Absolute) that this automatically severs the financial ties you have with your spouse or that it is much easier to sever those ties now. Unfortunately neither is true.
The process to dissolve the marriage is easier now as you do not have to cite fault on the part of the other or a period of separation, you only need to confirm that the marriage has irretrievably broken down. However, the process in terms of severing the financial ties you have with your spouse remains the same. Clients are often surprised to note that despite having a Final Order, that the ability for each spouse to make a financial claim against the other remains a live issue. It is important, therefore, that even if you achieve a Final Order in divorce that you also finalise the financial part of the marriage breakdown.
It is worth getting some initial advice from a specialist family lawyer to understand your position. Spending a few hours with a lawyer to understand your exposure may save you from making the costly mistake later on of assuming that you had a Clean Break only to face a claim from your ex-spouse when perhaps your financial position has improved.
Here at Taylor Walton, we have a team of specialist family lawyers and our Olive McCarthy MCIArb is not only a Collaborative lawyer but also one of the few Financial Arbitrators in England and Wales. You can email or call her at our St Albans Office, 01727 845245.
Disclaimer: General Information Provided Only
Please note that the contents of this article are intended solely for general information purposes and should not be considered as legal advice. We cannot be held responsible for any loss resulting from actions or inactions taken based on this article.
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