Here’s why “financial responsibility” and commitment of ex-partners does not always end at divorce.
Since No-Fault Divorce was introduced in the UK in April 2022, there has also been a shift with the number of divorce applications that are being dealt with online via the Gov.uk portal. This has made the process of getting a divorce much more accessible for both parties and has streamlined the process. Crew, if the circumstance of divorce applies to you, you may need to find out more about a Financial Consent Order.
DIY Divorce. What Happens?
Now that the divorce process is more accessible, a larger percentage of married couples are starting ‘DIY divorces’ where they manage the process themselves and do not instruct solicitors. Whilst this can be cost-effective, this has also led to some confusion in respect of the difference between getting divorced and dealing with financial matters following divorce.
Upon receipt of the Final Order of divorce, this brings your marriage to an end, but it does not bring about an end to the financial responsibilities, ties and claims that you each have against each other.
How would you end financial ties to each other?
The only way to end the financial responsibilities, ties and claims that you could each have against one another is by an Order from the Family Court that includes a Clean Break clause. This clause states that your financial claims against one another are brought to an end.
Divorce Proceedings Start. What To Do Next
It is therefore important that as part of the divorce process, or even after the divorce has been finalised, that you seek the advice of a solicitor in respect of dealing with your matrimonial finances.
It could be that there are a large amount of matrimonial assets that need to be dealt with and if that is the case then the CrewFO partner in question can guide you through negotiations and help you to reach a settlement with your separated spouse. They would then look to have a Financial Consent Order drawn up which deals with what will happen to the assets and also include a Clean Break Clause to end those financial ties and future claims.
Alternatively…
Alternatively, it may be the case that there are no assets left to be divided and you are just seeking to have a Clean Break which ends the financial ties and allows you to move forward with your life without the worry of an ex-spouse returning in the future and attempting to claim assets from you.
Whichever of the two scenarios apply, we can connect you to people who will assist you with this and help you to navigate through to receiving that Order from the Court.
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At Crew Family Office, we are here to help Superyacht crew navigate their finances and make the right decisions.
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