Since the introduction of the fault-free divorce law on 6th April 2022, the process of obtaining a divorce without legal representation has become increasingly accessible.
While this change has been largely welcomed, it has also led many individuals down a precarious path.
The simplicity of a DIY divorce can be deceptive, and without proper legal advice, the potential pitfalls are significant.
(Read Time: Approx. 4 minutes)
Topics Discussed:
- Common misconceptions and financial risks in DIY divorces
- The importance of a Consent Order for a clean financial break
The Illusion of Simplicity in a DIY Divorce
Misunderstandings About the Final Order
One of the most pervasive misconceptions in a DIY divorce is the belief that obtaining a Final Order (previously known as the Decree Absolute) is the final step in severing all ties with an ex-spouse.
Many assume that once this order is granted, all financial claims are nullified. Unfortunately, this is far from the truth. The Final Order only legally ends the marriage; it does not address financial matters.
The only way to achieve a legally binding financial “clean break” is by submitting a separate, signed Consent Order to the Court.
Without this crucial step, an ex-spouse retains the right to make financial claims against you in the future, even after the divorce is finalised.
Future Financial Claims: A Hidden Risk
The potential consequences of neglecting this step are profound. Imagine discovering years after your divorce that your ex-spouse, prompted by your newfound financial success decides to claim a share of your assets.
This can include all manners of things, such as inheritance, a lottery win, or even business growth.
The legal and financial stress of dealing with such claims can be overwhelming and expensive. This is why it is always advisable to enter into a Consent Order at the time of your divorce.
Overlooked Assets and Critical Timing
The Importance of Considering All Assets
In some DIY divorce cases, couples are aware of the need for a Consent Order but proceed without legal advice.
This can result in a binding agreement that may inadvertently exclude significant assets, such as pensions or business interests.
These less obvious assets can be some of the most valuable in a marriage, yet they are often overlooked in favour of more tangible assets like the family home.
Pensions, in particular, can be a substantial part of the marital assets.
Ignoring them can lead to a severely imbalanced financial settlement, especially for the spouse with a lower pension provision.
Similarly, business interests can be complex to assess and divide without professional guidance.
The stakes are high, and the costs of getting it wrong can be substantial.
Why Timing Matters
Timing is another critical aspect that is often misunderstood.
For instance, a divorce lawyer would typically advise against applying for a Final Order until financial matters have been resolved and a Consent Order is approved by the Court.
Prematurely finalising the divorce could leave financial matters unresolved, complicating any future claims.
Moreover, if a party remarries before addressing these financial issues, they could lose the right to make certain financial claims altogether.
Why Legal Advice Matters
The Uniqueness of Each Divorce
Every divorce is unique, with its own set of circumstances and challenges.
While the internet offers a wealth of information, it cannot provide tailored advice for every possible scenario.
This is where legal expertise becomes invaluable.
Consulting a solicitor early in the process, even if just for a single session, can help you navigate the complexities of divorce, ensuring that all assets are accounted for and that your financial future is protected.
Summary
While a DIY divorce may seem like the most cost-effective option initially, it is crucial to fully understand the legal and financial implications of your decisions.
Failing to do so can lead to significant regret down the line.
To ensure that your divorce is handled correctly and to safeguard your financial future, consider seeking professional legal advice.
It could save you from making costly mistakes that are far more expensive to rectify later on.
Avoid the pitfalls of a DIY divorce—consult with Solicitor Divorce today and ensure your financial and legal interests are fully protected.
Contact us today to discuss your case – call us at 01772 282768, fill in our contact form here, or message us on our 24/7 WhatsApp phone line.