Do not delay in resolving finances following separation/divorce

It is always beneficial for parties to resolve the finances following the breakdown of a marriage/civil partnership as soon as practicable.  The reason being that a significant delay in applying for the finances to be resolved following a separation can lead to a reduced award in the absence of other factors.  It is also possible that certain assets can be sold or their value changed which limits the extent of a financial claim.

There is case law to support that the longer the lapse of time, the more secure he or she should feel in the arrangement of financial affairs and the less should any such claim be encouraged or entertained.  While there is of course no rigid rule for an infinite variety of facts, generally speaking it would be difficult for a party to be allowed successfully to bring an ancillary relief claim initiated more than six years after the date of the petition for the divorce, unless there was very good reason for the delay.

It is for this reason we advise all our clients to enter into either a consent order which is a financial agreement reached between the parties and subsequently lodged with the Court for the Court’s approval, or alternatively if such an agreement cannot be reached between the parties, to consider issuing a formal Court application to have the finances resolved.  This provides some finality to the matter and gives both parties financial security, leaving them free to deal with their assets however they choose.

At Chadwick Lawrence we have an extremely skilled and experienced team of family lawyers who can provide you with advice and assistance on any area of family law.  To arrange a free initial half hour meeting at any of our offices please contact us on 0800 015 0340.