Divorce can be an emotionally difficult time but it’s also a period where crucial financial decisions must be made. One of the most important legal steps in this process is securing a financial order. If you’re getting divorced or thinking about it, understanding what a financial order is, and why you might need one is essential.

In this blog, we’ll take you through everything you need to know about financial orders in divorce: what they are, why they matter, and how to get one.

What is a financial order?

A financial order is a legally binding document issued by a court that sets out how the financial assets and responsibilities between divorcing spouses will be divided. It provides clarity and legal certainty, helping both parties move on with confidence.

Common examples of what a financial order can cover include:

• Property (most commonly the family home)
• Savings and investments
• Pension sharing
• Spousal maintenance (ongoing financial support)
• Debts

Child maintenance payments are a little different. They can be covered in a financial order but can also be handled separately through the Child Maintenance Service

Why is a financial order important?

Many couples assume that getting a divorce automatically severs all financial ties. That’s not the case. Without a financial order, either party may be able to make financial claims years, or even decades after the divorce is finalised. This can cause significant financial problems, especially if either party has remarried or received an inheritance post separation.

Benefits of having a financial order:

• Legal protection from future claims and peace of mind
• Clarity and certainty on who gets what
• Avoids misunderstandings or disputes later
• Enforces any agreed settlement

Even if you reach an amicable agreement, without a court order, it is not legally binding and therefore not legally enforceable either.

Types of financial orders

The type of financial order that you apply for depends on the situation you and your ex-spouse find yourselves in.

Consent order - If both parties agree on the financial settlement, you can apply for a consent order. This records the agreement reached and makes it legally binding.

This order has to be accompanied by a statement of information setting out the financial situation of the parties and how the proposed consent order is going to affect that. A judge will review the documents and approve the order if they deem the settlement reached is a fair one.

Contested financial order – If you cannot reach an agreement, either party can apply for a financial order and a judge will decide how the assets should be divided. This will involve three main hearings and full financial disclosure from both parties.

How to apply for a financial order

The process for applying for a financial order varies depending on whether you and your spouse agree on the division of assets or not.

If you’ve reached an agreement (consent order):

• A consent order and statement of information is drafted
• This is submitted to the court with a small fee
• A judge will review and, if fair, approve the order without a hearing

If you don’t agree (contested order):

• Apply to court
• Engage in financial disclosure
• Attend a First Appointment hearing to discuss financial disclosure
• If no agreement is reached, you’ll attend further hearings
• The judge will make a final decision based on fairness and the needs of both parties, especially where children are involved.

Why do you need a solicitor?

While it’s not legally required to instruct a solicitor to represent you, working with a solicitor is highly recommended. We can help ensure the order is fair, comprehensive, and legally sound.

Mistakes in a financial order can be costly and difficult to undo later. Our professional guidance ensures your future is properly protected.

Conclusion

Securing a financial order is a crucial step in the divorce process. Without one, your financial future remains uncertain and you leave yourself open to claims from your ex-spouse many years after your marriage has ended.

Whether you need a clean break or ongoing support arrangements, obtaining legal advice early can help you reach a fair, secure outcome.

At Switalskis, our experienced family law team can guide you through every stage of the divorce and financial settlement process. Whether you need our help securing a consent order, negotiating a fair outcome or preparing for court proceedings, we’re here to help.

Contact us today to arrange a free half hour advice appointment and find out how we can assist you. Call 0800 138 0458, email help@switalskis.com or fill out the form below.