Why is it Important to Get a Clean Break/Consent Order?
By: James Walsh

The consent order also ensures that there is peace of mind for the divorced couples irrespective of the fact that one of the divorced couple might marry again. Apart from that, it bars an ex-spouse from laying claim on the assets of the other, even in cases like a lottery win or inheritance by an ex-partner in the future.

It is important to note that financial matters are a separate issue to be dealt with when a husband or wife files a divorce petition in court. It is possible that the divorce process is initiated and completed without reference to financial matters. However, this has far-reaching implications for the parties concerned in the future. Steps should, therefore, be taken by the divorcing parties to ensure that property and assets are fairly apportioned between them by filing a separate application in the court. Financial application for sharing of the matrimonial property and assets of the divorcing parties is also called Ancillary Relief application. According to law, the following assets constitute matrimonial assets:

All savings and investments
The house or property owned by either or both parties
The value of the family business
The occupational pension funds of both parties

The family court settles financial matters on filing financial application to it. It is vested with wide powers to make a fair settlement in financial matters on divorce. However, both the parties have to make a full disclosure about their assets and income at the time of filing the financial application.

A consent order will also take into account pension received by one or both parties. As mentioned above, this, too, is one of the important matrimonial assets. However, if only one of the parties receives pension, the other spouse has a claim over it and this will impact the net pension receivable of the party receiving the pension.

While seeking ancillary relief within the divorce proceedings, each partner should furnish the details of joint bank accounts to the court; otherwise one of them might fraudulently withdraw the funds from the joint account forging the signature of the other party. If details of joint bank accounts were not furnished the Order for ancillary relief would not be favourable to one of the parties, necessitating an appeal against the Order even if it was made by consent.

The consent order is, therefore, a sort of safeguard for both of the partners, so that after the divorce process is over, none of the partners can go back to court seeking more money or assets from the other partner. It also ensures that any agreement reached between the partners during divorce proceedings is enforceable and that no further claims can be made.

Article Source: http://www.ArticleJoe.com

James Walsh is a freelance writer and copy editor. If you have recently become divorced a www.clean-break.co.uk“>Clean Break Agreement is essential to prevent your former spouse from making a claim to your future assets, for more information see www.clean-break.co.uk

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