For many couples, dealing with the emotional upheaval that comes with separation is a challenging prospect. Making lasting decisions about the likes of shared property, businesses, and child maintenance adds complex practical questions into the mix. Crucially, the process doesn’t end when you finally make loose agreements together, as you’ll then need the courts to formalise them. The only effective way for divorcing couples to do this is with a consent order.
A formal consent order can replace the uncertainty of separation with a sense of calm and clarity. It might even help you to regard finances after separation not as an immovable obstacle, but more of a giant stride towards the start of your new life. For many people, whether this is achieved organically or via mediation, sitting down and talking openly often brings everything you’re so keen to resolve out into the open.
So what is a consent order in divorce? Here we’ll explain how they work, the timescales and processes, and the ways in which they can help to draw a line under what’s gone before and safeguard your financial best interests for whatever comes next.
What is a Consent Order in Divorce?
If you and your former spouse have made arrangements over finances, you’ll need to formalise them in a binding document that protects you from future financial claims. This agreement is known as a consent order. Although it usually covers the division of matrimonial assets, such as savings and properties, it might also include features like child maintenance payments.
Increasingly, spouses understand that it’s cheaper and less stressful to reach a divorce settlement without the court’s intervention. Although this is often a crucial development, it is more of a formative step than a full stop as, legally, you will still be seen as having financial ties until you have a formal court order which details how you’ve agreed to divide your possessions.
This is especially pertinent in high net worth separations, as valuable features such as business interests, investments, inheritance, and overseas properties could all be at risk. When both spouses have agreed to the terms of a consent order, it effectively ‘closes the book’ on this chapter. However, even if you feel you’re able to find an amicable solution about expensive assets, it’s still a good idea to get the opinion of a family solicitor, as they’ll be able to point out any potential pitfalls, recommend changes, and draft the legally-binding document on your behalf.
Getting a Consent Order: How Long Does it Take?
Although it varies from relationship to relationship, you can expect a consent order to take at least four weeks to be approved. In recent years, the online application process has speeded up the process — but it can sometimes take as long as ten weeks for it to be formalised. Once agreed, it remains in place indefinitely, unless an application is made to vary it.
Any couples who are unable to agree finances after separation will need to apply to the courts for a financial order. This usually takes considerably longer, often anywhere up to 12 months.
The Consent Order Process Explained
Anyone asking “what is a consent order in divorce” should first of all know how the process works. Once an agreement has been reached with your spouse, you will need to work with your solicitor to draft the order, and then submit it to the courts, along with any important supporting information about your current finances, so that the courts can understand how you reached the agreement, and can assess if it’s fair, before approving it.
Your solicitor is expected to submit the application on your behalf.
The process works as follows:
- Draft the Order: Once you have both agreed upon division of assets and child maintenance payments, your family lawyer will include this information in the drafted document.
- Gather Essential Information: Your next step is to complete a statement of information. In this, you will need to include information about your marriage, including the length of the relationship, a valuation of both spouses’ assets, any debts, children and dependents etc. This will form the basis of your eventual settlement, so seeking legal advice is important to ensure nothing is overlooked. The court needs to see this, to ensure that the agreement reached is fair to both parties.
- Complete and Submit the Application: Next, the documentation will need to be filed by your legal representative, along with any supporting information and a fee to the courts.
- Wait for Approval: Assuming the judge finds the contents to be reasonable, the consent order will be approved. In some circumstances, they might ask for clarification about certain elements, which could result in short delays, as you’ll need to respond to their requests for information. In some circumstances, the court will schedule your case for a short hearing to answer any queries, before approval.
Finally, it’s important to retain documentation for your own records, just in case this is required for reference at a later date.
What is a Clean Break Consent Order?
A clean break consent order is more common in separations with few shared assets. It severs financial ties between spouses, ensuring that neither can claim against the other in the future, thereby protecting any future windfalls. However, if you will have ongoing financial commitments, such as spousal maintenance payments, a clean break won’t be an option.
It’s therefore important to take a long-term view when considering clean break consent orders. Although you might not currently see the value in protecting your assets, it’s vital to realise that this approach will leave the window for claims open indefinitely. This means that your former spouse will have an ongoing link to your future assets and could, for example, make a claim against an inheritance if relations deteriorate in the years to come.
A clean break consent order will ensure that this isn’t an option, safeguarding your finances going forward.
Get the Guidance You Deserve with Lowry Legal
Now you understand what a consent order is in divorce, there’s no better time to draw a line under what’s gone before, and move forward with clarity and confidence. As difficult as your current situation may appear to be, communicating openly about finances can be the starting point for real progress. Ultimately, collaboration makes it easier to reach shared decisions that have lasting outcomes.
A member of the Legal 500, Lowry Legal knows that all relationships are unique. This understanding has helped to shape our service, which prioritises the welfare of each individual client above all else. We don’t have a one-size-fits all approach. Instead we listen, get to know what makes you tick and from that, we can begin to see what a positive outcome looks like from your perspective.
Our expertise in high net worth divorce means we thrive during more complex cases. Whether you’re an entrepreneur, investor, or public figure we can provide the guidance you need to make decisions that work for you. You’re never just a number, you’re the focal point of our attention at all times.
Secure your financial future with Lowry Legal and get in touch today.
