What is a consent order?
A consent order is a financial contract between a divorcing couple, that organises and finalises the allocation and division of assets after divorce. The order includes different things depending on your particular circumstances:
- Liquid assets: anything, either owned by one party or jointly between both parties, that can be sold for cash.
- Pensions can be shared too, if they are included in the order.
- Maintenance: there are two types of maintenance – child maintenance and spousal maintenance. The former is paid to the parent who has custody of the child or children for most nights of the year, while the latter is paid to an ex-spouse by the highest earner of the two, to compensate for salary disparity.
- Property and assets:
Consent Orders are legally binding. When obtaining one, it must be drafted by a solicitor, signed by you and your ex-spouse after financial disclosure, and reviewed and approved by a judge at a family court.