New divorce legislation, known as ‘no-fault divorce‘ came into force in the UK on 6th April 2022 with the aim of reducing animosity in the divorce proceedings and reducing the need for one or both parties to apportion blame for the split; couples can now simply state that the marriage has ‘broken down irretrievably’.
This change has allowed couples who wanted to separate without placing blame to end the relationship more easily and has prompted an increase in couples choosing the DIY divorce route, i.e., proceeding without legal advice or representation. However, new data implies that formerly married couples going it alone may not be aware that they were also tied to one another financially, and this does not change following a divorce.
The most recent MOJ Family Court Statistics – published on 29th June 2023 – show that while there were 28,865 divorce applications and 27,465 final orders made between January to March 2023 under the new legislation, only 11,432 financial remedy applications were made within the same period.
A financial remedy order – also known as a final order – is a document used to detail how the marital finances, e.g., any property, regular payments, pensions etc., will be split. Without a financial order, any informal agreement between spouses is not legally binding, even if you both believe to have split amicably. Should one or other party decide to bring a financial claim, even decades later, without a financial order in place, there are very few grounds to contest it.
The cost-of-living crisis and other economic factors have made DIY divorce an attractive avenue for splitting couples, but the financial difficulties that might arise from ‘doing it yourself’ may cost you more in the long run. An experienced family law solicitor can talk you through the divorce process step-by-step to ensure that you are fully aware of what considerations you need to make for your immediate and distant future concerning finances, assets, and dependents.
With our experience and expertise, the Sweeney Miller Family Law team, led by Partner Rebecca Cresswell, aim to achieve the best outcome in your circumstances, ensuring you have provision for the future or protecting what you have built up over the years.
To speak to a member of the team about your situation, get in touch for a free 30-minute consultation by emailing enquiries@sweeneymiller.co.uk or calling 0345 900 5401.
