What is a consent order?
A divorce can make you very uncertain about the future. One way that you can protect yourself for the years ahead is to consider writing a consent order. This means that your financial interests can be clarified to cover both anticipated, and unanticipated, changes in your circumstances. We can help you to create a consent order that covers all aspects of your monetary affairs before a divorce.
There is no pre-determined way in which assets are divided after a divorce. Even if you are the only wage earner, with responsibility for the mortgage, making provision for savings and paying the bills, it does not mean that you will benefit from the full value of these assets after the break up. You will probably be asked to make provision for your partner, and your children. A consent order can help you to do this fairly and with the minimum of fuss.
What is a consent order?
A consent order can cover a variety of financial matters. For example, it can include how maintenance is to be paid. It can also cover the division of financial assets, pensions and the division of property. It is important that you seek out the best possible legal advice to produce a consent order. Only certain organisations have the authority to produce a consent order.
It is always best to come to a consent order, which can then be presented to a court and a judge, to show that you can agree on how your assets should actually be divided.
Consent orders can cover a range of things and are very appropriate when it comes to deciding upon what should happen to property. You might decide that it is better for one party to continue to live in the existing property, particularly if children are involved. You might equally decide that the property should be decided and the proceeds are divided. Consent orders are also a good way to decide on the way in which future pension proceeds might be divided. Whatever you decide, a consent order can help you to express your wishes in a clear statement of intent.
A clean break?
It may be that you have decided that after the finances have been allocated, there should be no further claims on assets in the future. This is known as a ‘clean break’ consent order. There are advantages and disadvantages to a clean break consent order. The advantage of a clean break consent order is that there are no possible future claims on assets, such as maintenance or pensions. This means that you can plan your financial future independently, fully appraised of future income and expenditure. It also means that you are spared the stress of future negotiations with your partner. The disadvantage of a clean break consent order is that you need to consider how this will impact upon your future, particularly if you have children. There may be unanticipated circumstances that you have not thought of, such as illness or unemployment, and these may mean that the clean break consent order is inadequate. It is important to think carefully about your future in devising a clean break consent order.
The role of the court
People do not normally have to go to court to agree a consent order. Judges can usually make a decision on a consent order without seeing you. Even if court attendance is required, this is not often particularly onerous.
Judges will take into account various laws and statutes when agreeing to a consent order. They will look at the interests of children and other parties. Judges will look at the fairness of an order when arriving at a decision.
Need help with a separation or divorce? Call Barclay DeVere on 03300 100 082 0r 0203 519 1213