How To Deal With Finances After Separation

Dealing with finances after divorce can be the most stressful process for many. This article will help you understand how to deal with your finances and how to assess your financial situation.

A financial consent order is always recommended as it outlines what you intend to do with your finances once seperated and puts it into a legally binding document.

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Overview

Your individual finances soon merge together once married, you share money, cars, loans and many other financial assets.

Whatever you have accumilated will have to be split occordingly unless you have a prenup. The courts look for a FAIR split, it’s important to know that this does not mean an equal spilt.

Here’s what needs to be thought about when seperating;

  • Property
  • Savings
  • Investments
  • Children
  • Maintenence
  • Cars
  • Other financial assets

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Easy Finances

There’s no such thing as an easy financial spilt however there are factors that can make it easier.

Your finances can be split easier if:

  • You both want to divorce and agree to the terms of your divorce.
  • You do not have any children or your children are no longer financially depended.
  • You both have a good understanding of how your finances will be spilt.
  • You can both discuss your situation amicably and come to a solution.
  • One of you doesn’t financially depend on the other.

For further information on finances, please call our divorce advisors on 01793 384 032 for free information or read more about finances after divorce..

Complicated Finances.

There are factors that can make splitting your finances more complicated.

Your finances can become more complicated if:

    • One of you is financially depended on the other.
    • You have children who are financially depended.
    • Your finances or assets are not jointly owned for example: Your house is only in one person’s name.
    • One of you does not agree to the divorce.
    • You are unable to talk amicably about your finances.

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What to do/What not to do

Divorce can be a very a stressful time and it can make reaching a fair settlement very difficult.

It’s really important to try and keep a clear head when discussing yor finances, this will stop you making quick and irrational decisions.

  • It can be difficult to communicate with your ex but its vital that you do. This can keep the cost of your divorce down and make it a lot less complex.
  • It’s important that you do not try and get revenge on one another by spending money that is not yet yours. This also includes getting into more debt as the consequences will effect both of you.
  • Divorce still means you are finaincially tied to one another unless you obtain a financial consent order. So it’s very important that you do not ignore letters, bills or other important documents because you think its irrelevent.

Seperation Agreement

A separation agreement is a legally binding contract for married couples, separated couple or civil partnerships who are not yet ready to divorce but are wanting the division of finances, assets and children finalised.

If you are ready to divorce or getting divorced then a seperation agreement isn’t for you. However, a Financial Consent order is exactly what you need.

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Financial Consent Order

Financial Consent order is a legally binding court order that outlines how a divorcing couple intend to divide any assets and finances they hold within their marriage.

A consent order is a voluntary agreement that a divorcing couple decide to enter. You do not have to have one however it’s highly advisable that you do. It’s the only legal way to protect your finances.

You will be tied to your ex for many years to come if you do not obtain a financial consent order. This means they are able to makes claims against your finances even after being divorced for many years.

Order Your Consent Order – £139

The short and unfortunate answer is no. For the courts to process your divorce application after 5 years your spouse will need to be given the opportunity to see the divorce petition.

If you have no address for your ex-partner, you will be expected to use other methods such as contacting friends and family. Quicke Divorce can help you understand the process and costs involved, so it’s best to get in touch with us on 01793 384 032.

If you are looking to use unreasonable behaviour as your ground for divorce, you must use the actions that you deem unreasonable that your spouse commits and cannot use your own behaviour.

You will be expected to give at least four or five examples of your spouse behaviour, which our staff will help draft for you to ensure your divorce can progress through the courts.

You first need to understand which of the available grounds you can use to file for divorce and then look into the complications of each one.

If you have been separated for two years and you and your spouse are amicable it makes sense to use 2 years separation with consent, but we understand that most cases aren’t this simple.

It’s therefore important that you get the best advice about which ground to choose before you start proceeedings, so call our team on 01793 384 032 for free adivce.

There are no hidden costs involved with any of our services. We clearly display the cost of our services including what you will be expected to pay by the court.

The court fees are your only additional cost and you may be exempt from paying these if you are on a low-income or receive certain benefits.

Obtaining a Divorce with Quicke Divorce

Providing that your case is uncontested, it should take between 16-20 months. However, because a divorce is a legal process complications can arise during the proceedings, which can affect the timescales given.

We encourage our clients to get quotes from local solicitors because we know that once they are quoted £1,000 + VAT for a simple divorce they will come back to us to handle their divorce for an affordable and fixed fee of £169 including VAT.

If you believe your divorce situation to be uncomplicated and your spouse is likely to agree, we can help you obtain a quick, easy and affordable divorce.

Managed Divorce Service – £169