Finance

The Ultimate Guide to a Financial Consent Order

The Ultimate Guide to a Financial Consent Order

A court-issued order is known as a financial consent order. It binds you both legally to the financial arrangement you have previously struck. What happens to your assets, pensions, and other property after a divorce may be outlined in this order. It can also explain how any recurring payments between you might be handled.

Is a consent order required?
It’s a popular misperception that the court handles your financial matters during the divorce process. It is rarely advised, but it is technically feasible to seek a divorce without agreeing on any financial terms.

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Therefore, even though they are not required, we advise getting one for every divorce, regardless of whether assets are being divided or not. This is so that they can safeguard your future earnings and provide you both with a clean break.

What is a consent order for a clean break?
A clean-break consent order will sever all financial links that may still exist between you. Even years after your divorce is finalized, either of you might file a claim against the other without such an order. Assume you were lucky enough to win the jackpot or build a successful company. Even many years after your divorce has been finalized, your ex-spouse may be able to claim your future money in the absence of a clean-break consent decree.

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