Financial Order Needed?

Paul_T_23

I'm currently in the initial stages of a divorce and I’m seeking advice to help me move this forward.

To give some background, I applied for divorce in February 2023 and we are currently in the cooling off period until July when a conditional order can be applied for.

As part of this divorce my ex wife still lives in the house that we bought together with our three children. I live in a rented property & we have had this arrangement since April 2021 where I still contribute towards half the mortgage and I willingly pay child maintenance.

Our fixed term mortgage is due at the end of October and my ex wife and I are now in a position where we would like to put the house up for sale.

We had previously agreed a % split on the house sale verbally however this then changed and we have now come to an agreement on how the equity on the house will be split once the house is sold (60/40 in favour of my ex wife). We have also agreed via email on how we will separate Savings, Pension, Shares, Household Items, Our Car Finance, Loan and ongoing Child Maintenance and Child Care arrangements.

So we can move this forward on the basis of what's been agreed on email between both parties, I'm looking to establish if I need to draw up a mutually agreed legal document or can these terms be drawn up on the financial order?

I'm looking for advice on whether I should seek legal advice on getting a Financial Order arranged ahead of our conditional order date of July 15th or if another document can be drawn up and agreed by both parties to ensure that the agreement through our emails on separation of assets can be legally binding or put me at risk or further change as we process the house sale in the coming months.

I'd like to get some advice on how to proceed and move forward on the appropriate next steps and hoping I can get input around this situation.

Thanks

VyEu

very simply, go to a solicitor, get what you and wife agreed drawn up in a consent order and lodge it with the court. then what you have agreed with wife will be legally binding. 

TBagpuss

You can get it drawn up and signed as a consent order. You can't submit it to the court until you have your conditional order, but it would be an open agreement which makes it hard for either of you to change your mind as they'd then have to justify to a court why it was fair to allow them to renege. The order can say that the house will be marketed from (say) 1st September and can set out the % split and also include arrangements about who is responsible for what until it sells,

FarmGirl78

Make sure you get a clean break clause as part of the consent order. This stops your ex coming after any lottery wins or new business growth you might have in say 20 years time. As much as you might be amicable now you have no idea how things will change in the future. It's not worth not getting that clause added.