Divorce and finances.

[Mamofboys18]

Hi, my ex and I are currently in the 20 week 'reflection period' of the divorce process. We have already amicably sorted child arrangements and finances - I will be remortgaging the family home to give him a lump sum of equity. Everyone is keeping their own individual pensions and debts.

My question is around the legal side of things. I know we could apply for a financial order after the decree nisi, but that won't be until early next year, and I'm keen to remortgage now due to ever increasing interest rates. Do we NEED a financial order? Could we retrospectively apply for a clean break order once the divorce is done and dusted?

Asking on here as solicitors charge by the second...

You can leave the financial order until after the divorce. However, it is not a good idea. Until there is a financial order in place it is open to either side to make a claim on the other. People have successfully made financial claims on their ex decades after divorce because there was no financial order in place.

Thanks for the reply. I know, in an ideal world I'd definitely want to get a financial order signed off ahead of the remortgage, but interest rates will probably be too high for me to remortgage in 6 months, the way things are going.

I think I'm basically asking if we would be better off applying for a clean break or a financial order AFTER the decree absolute, at this point. I'm not sure how else to go about it.

Any solicitors out there?

Do you think a clean break and a financial order are different things? They aren't. A clean break is simply a financial order which ensures there are no ongoing financial ties between you and your ex. As for whether you would be better off doing it after the divorce is finalised, I'm struggling to see how that helps.

A clean break order doesn't divide assets. A financial consent order does.

A financial consent order can provide for a 'clean break' as the outcome, but they are different orders done in different ways.

Someone has DM'd me with some actual legal advice now, but thanks for your time.

I am giving you actual legal advice.

A clean break order is a type of financial order.

A consent order will normally include a clean break clause so that it functions in the same way as a clean break order.

If you don't have any assets to divide then yes, you could go for a simple clean break order. However, in the situation you have described a consent order formalising what you and your ex have agreed and including a clean break clause may well be the better option.

Since it appears you don't want to believe me, I suggest you consult a solicitor. That way you will get proper legal advice rather than trusting internet randoms.

It's not that I don't want to believe you, it's that you haven't actually provided any advice yet. I already know we will need one or the other. My ex would be wobbly about me coming back for his pension in 10 years otherwise...

I've got a document from my solicitor setting out the differences between a FCO and a CBO. Its the timescales I'm stuck on.

I.e. is it possible to have a consent order legally approved AFTER the house has already been remortgaged and ex already paid off?

I have already got a solicitor who has been wonderful so far, but I am being charged for every phone call and email so yes, if there's any family law solicitors out there who can give me an idea, I'd appreciate it. I'm not holding anyone to account for anything said on here.

Yes, you can get a consent order after the house has been remortgaged and your ex paid off. Normally the consent order would come into force at the same time as the decree absolute. So you can remortgage now, sort out the finances and then get a consent order including a clean break clause to come into force at the same time as your divorce is finalised. It is also possible to delay getting consent order until after the divorce has been finalised.

@Mamofboys18 Prh is a family law solicitor. 😂😂😂

You realise you are explaining to someone who works in that field don't you 🤦‍♀️

I am a family law solicitor but I'm reluctant to contribute to this thread as you've been rudely dismissive of the good advice you have received. Also your questions don't make much sense.

Dh and I are not divorced but have a financial agreement signed by 2 solicitors. It isn't legally binding but shows it's been reviewed. We split our assets in the same way you are describing