A consent order is a legally binding document used in divorce proceedings in England and Wales to formalise a financial agreement between separating spouses. It sets out how assets, property, pensions and finances will be divided.
While many couples reach informal agreements, a consent order ensures that the agreement is legally enforceable and provides long term certainty.
Why a Consent Order Is Important
Without a consent order, financial ties between spouses can remain open even after divorce. This means that one party could potentially make a financial claim against the other in the future.
A consent order protects both parties by:
- Making the agreement legally binding
- Preventing future financial claims
- Providing clarity on asset division
- Offering certainty and finality
Even where both parties are on good terms, formalising the agreement is strongly recommended.
What Can Be Included in a Consent Order
A consent order can cover a wide range of financial matters, including:
- Division of property or sale of the family home
- Distribution of savings and investments
- Pension sharing arrangements
- Spousal maintenance payments
- Responsibility for debts
The agreement must be fair and reasonable, and it will be reviewed by a judge before approval.
The Legal Process
To obtain a consent order, both parties must agree on the financial terms. A solicitor will then draft the document and submit it to the court along with a financial statement.
The court will review the agreement to ensure it is fair. If approved, the consent order becomes legally binding.
Importantly, a consent order can only be approved once divorce proceedings have reached a certain stage.
Risks of Not Having a Consent Order
Failing to obtain a consent order can lead to future disputes and financial uncertainty. One party may bring a claim years after the divorce, particularly if circumstances change.
This can result in unexpected financial exposure and legal costs.
Conclusion
A consent order is a crucial step in finalising financial arrangements following divorce in England and Wales. It provides protection, certainty and peace of mind for both parties.
Even where agreement has been reached, formalising it through the court is essential.
Call to Action
If you are going through a divorce and want to ensure your financial arrangements are secure, Penerley can help. Our experienced family law team will guide you through the process and protect your interests. Contact us today for expert advice.
