What is a consent order?
A Financial Remedy Consent Order records the terms of how you intend to divide your finances after divorce, such as any pensions, property and savings. It can also include provisions for spousal or child maintenance.
This document is signed by both parties and submitted to the Court for approval. Once approved, the Consent Order becomes legally binding and both parties must abide by the provisions.
A Consent Order is not automatically approved by the Court. It must represent a reasonable and fair division of the finances between the parties. There are several factors that are considered when determining what is considered reasonable and fair, which does not always an equal division of the available assets.
It is important, before entering into negotiations, that you understand what are the available assets and any unique circumstances which might influence the division between you and your ex-spouse.
What is the process for a consent order?
A Consent Order can only be prepared once the terms have been agreed between the parties.
You can reach an agreement several different ways, depending on what suits your circumstances.
• You and your ex-spouse can reach an agreement privately
• You can instruct a mediator together to assist with your negotiations
• You can each instruct a solicitor to represent you during negotiations
A professional is likely to require documentation from you to assess your circumstances, for example valuation(s) of any property and pension.
The general objective when dividing matrimonial finances is to achieve equality, however there are multiple different factors taken into account including where any children will reside and the duration of the marriage.
One of the considerations will be whether a “clean break” can be achieved between the parties, which will allow financial independence from one another. This is not always suitable and a professional should be able to assess your circumstances and whether this applies to your unique case.
Once an agreement has been reached, then the relevant legal documents will be prepared, signed by all parties and submitted to Court for approval.
The Court aim to review the Consent Order relatively quickly, however there are no set deadlines and the turnaround will depend on Judge’s availability.
What if you cannot agree the provisions for a Consent Order?
Unfortunately, it is not always possible to agree how to divide your finances even with the assistance of professionals such as a mediator or a solicitor. If an agreement cannot be reached, then either party can start contested Financial Remedy Court Proceedings.
We would always recommend exhausting the options to negotiate with professionals before seeking Court intervention in a contested matter.
As part of the contested Court process, the parties will exchange full and frank financial disclosure for example 12 months of bank statements, valuation(s) of property and pensions and details regarding any liabilities and / or savings.
The process can involve multiple Court hearings, during which a Judge will assist in assessing the financial circumstances of the parties and supply, when appropriate, indications of a reasonable division.
Ultimately, if the parties are unable to negotiate an agreement, then a Judge will decide the division of the finances and this decision will become legally binding on both parties.
What if a consent order is breached?
A Consent Order is legally binding on both parties. If one of the parties does not abide by the provisions, then the other can enforce the Consent Order.
The consequences of breaching a Consent Order vary, however can include monetary fines and even prison. It is never advisable to breach a Consent Order.
To ensure that you do not breach the Consent Order, you must be entirely satisfied that you can abide by, and fully understand, the provisions. A professional can discuss and explain any provisions with you, especially if the document has been prepared by your ex-spouse or their representative.
Do I need a consent order?
You can still get divorced without a Consent Order, as the divorce and the finances (whilst intertwined) are separate legal matters. This is not advisable.
There can be circumstances whereby the divorce has been finalised, yet the finances are not yet divided leading to financial proceedings long afterwards. This can cause complications in understanding the true extent of assets accrued during and after the relationship.
