When a couple are separating or divorcing a great deal of stress and concern will be created as a direct result of worrying about finances. Couples will have to consider what to do with their shared home and possessions, how mortgage or rent payments will be made, and how proceeds will be divided. If the couple have children there will be other additional factors to consider.

Resolving Issues

A divorcing couple can resolve a number of issues by applying to the courts for relevant orders. These can include a Property Adjustment Order, which determines each individual’s interest in their home, a Lump Sum Order, which awards a payment to either the man or woman, and Periodic Maintenance. If the couple have children the courts will regard the interests of the children as being of paramount importance.

Provided a couple’s split is amicable, it is possible to carry out a divorce without involving a solicitor or going to court, although professional assistance in some form is recommended.

Making A Clean Break

Maintenance is paid by one partner to the other, but not necessarily always by a man to the woman. When a couple divorces a financial Clean Break Order is generally obtained. The couple will have agreed to settle all financial details between them. Once this is done the court is able to dismiss any further financial claims by either party. What this means is that both partners can make any financial arrangements and agreements without worrying that their former partner will make some kind of claim against them.

Child Support And Maintenance

If a couple has children on divorcing one parent will become the parent with care, whilst the other becomes the non resident parent. Although the child will live with the custodial parent they may well maintain contact with the other parent, who often shares parenting under a private agreement. The non resident parent however, is also expected to contribute maintenance towards the costs of raising a child. The amount that is paid periodically may be privately agreed between the couple, but in many cases the amount is decided by the Child Support Agency (CSA)or Child Maintenance Service (CMS).

Any parent failing to pay maintenance will be forced to do so by the CSA/CMS. Payments can be enforced and taken directly from the parent’s wages.

Unmarried Couples

Couples who have not married but are separating may benefit from legal advice when they go their separate ways. Unmarried couples do not have the same legal rights as their married counterparts. For instance, an unmarried woman, who has children within the relationship, will not be entitled to claim maintenance for herself, but may still claim Child Support from the children’s father.

A Case For Court

When a couple are unable to reach an agreement over the division of property, possessions, child care and maintenance or any other matter they have the option of applying for a Court Order. Any application for a Consent Order must be accompanied by a detailed account of the matrimonial finances and assets.