Do we still need a court order in respect of finances if we have agreed everything ourselves?

This is a question we are regularly asked at Browell Smith and Co solicitors.

The answer is quite simply… YES.

Even where you and your spouse or Civil partner have reached an amicable agreement in respect of the division of assets on divorce or dissolution, we would strongly recommend that you have the agreement drafted into a Financial Remedy Order to ensure that it is legally binding. We strongly recommend you seek legal advice in respect of any agreement reached. It is important that you understand the scope of the available assets and of course, that any agreement reached is fair.

Whilst the final order in divorce or dissolution ends your marriage or civil partnership, it does not end the financial claims that either you or your former partner have as a result of your marriage or civil partnership. The financial claims will remain live and could be pursued by either party in the future, even many years after the final Order of Divorce or Dissolution in the absence of a Financial Remedy Order.

In order to protect yourself from any future financial claims, however amicable the separation may be, a Financial Remedy Order is required and should include, where appropriate, a ‘Clean Break’ clause. A ‘Clean Break’ clause will dismiss any future capital and income claims that you have against each other and, can dismiss any respective claims on each other’s Estates in the event of death.

It is also worth noting that, without a Financial Remedy Order, a pension provider will be unable to implement any agreed pension share, even after the Final Order of Divorce or Dissolution has been granted.

Speak to our experienced Family Law solicitors

The Family Team Browell Smith and Co have vast experience advising on finances following the breakdown of a relationship. If you require advice and assistance then please contact us today to see how we can help.