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Posted by Donna Hart on 2nd April 2019
I have my Decree Absolute and have resolved the finances directly with my spouse but do not have a sealed financial order from the court – are matters concluded between us?

The short answer is no.

You need to be aware that without a concluded sealed order from the court in relation to your finances, should you come into any money, property or assets due to inheritance, gifts, lottery wins, an increase in the economic climate or by your own success, the court or solicitors will consider the value of the asset at the date it comes before them rather than at the date of separation.

While you may believe that the assets have already been determined and separated, without an order your former spouse can come back with regard to finances in the future (unless they have remarried).

Additionally, if your spouse should die before financial matters have been resolved by a final order, you will no longer be their widow/widower and may lose your entitlement to benefit under the terms of their pension or any life policies that they may have.

You may also still be financially associated with your former spouse – so if your spouse has an adverse credit rating, it could affect your ability to obtain credit. If your spouse were to be made bankrupt, this could affect your financial situation, particularly if you still own assets jointly.

If you have proceeded with your divorce but do not have a concluded agreement in place regarding your finances, please contact us for a no obligation appointment to ascertain your position.



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