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The aim of a consent order is to detail how your joint assets are to be divided and will cover money, property, investments, pensions and savings. What should be included within a consent order? Therefore, the best time to apply for a financial consent order in most cases is at the point in which the court grant you a conditional order as your agreement will become legally binding upon completion of your divorce. Whilst it’s possible to obtain a consent order after the decree absolute has been granted, it may affect your entitlement to certain assets, such as pensions you may also be liable for tax on any assets you receive.
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In most cases, the financial agreement becomes legally binding on both parties once the judge grants the final order (‘decree absolute’), giving both parties a ‘clean break’. An application cannot be made prior to this point.Ĭurrently, within the divorce procedure, there is a 6-week ‘cooling off’ period, which is designed to allow couples to negotiate and settle any outstanding money, children, and asset divisions or settlements. Couples Divorcing Whilst Living TogetherĪ divorcing couple can apply to the court to approve a financial order at the conditional order (‘decree nisi’) stage of divorce proceedings.Writing Your Own Cohabitation Agreement.
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