I have completed my divorce online. We have agreed the division of the matrimonial assets between us – is there anything else I need to do?
Currently the matrimonial finances are dealt with as a separate application to the court from the divorce petition.
Even if the divorce proceedings have been finalised, the claims you will have against each in respect of the matrimonial finances will remain open until a court order is made dealing with them.
If you divide all the matrimonial assets and there is no court order in place dismissing your financial claims against each other, your ex could still bring a financial claim against you many years in the future.
A matrimonial financial court order will set out the division of the assets and then dismiss any future claims you and your ex could have against each other in respect of your marriage.
If you are both in agreement, then this order can be by consent. The court will not automatically approve agreements if the judge has concerns as to whether it is fair, and you may need to explain the rationale behind the agreement.
Financial disclosure enables both parties to understand exactly what is in the matrimonial ‘pot’ and just because assets are held in one party’s name does not automatically exclude them from being part of the assets to be divided.
Though it may not seem necessary to have an order in place, circumstances change.
By not having an order setting out the division of the matrimonial assets and dismissing financial claims, it could leave you open to court proceedings being brought against you to settle the matrimonial finances in the future.
Agreements not ordered by the court can be unpicked so could be reconsidered if financial proceedings are issued.
For more information on divorce and matrimonial finances or to find out how we can help you, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.