Divorce and finances in the UK

Two separate processes

It helps to keep two things apart. Ending your marriage is a court process that follows a fixed timetable and does not look at your finances. Sorting your finances is about who keeps what: the home, savings, pensions and debts. You can run them side by side, but one does not automatically decide the other.

• Ending your marriage: the divorce application, conditional order and final order
• Sorting your finances: an agreement between you, and usually a financial court order to make it binding
• CalmSplit's £159 fee covers the divorce itself, not a financial settlement

The usual order of events

• Divorce application issued by HMCTS
• Conditional order after 20 weeks, once the court is satisfied
• Financial agreement reached, and a consent order applied for where appropriate
• Final order at least 6 weeks and 1 day after the conditional order, ending the marriage

Why people mix the two up

The divorce application asks nothing about your money, so many people assume the final order settles everything. It does not. Unless a financial order is made, financial claims between you can remain open even years later. That is why most people who have anything to divide put their agreement into a consent order.

What to do first

• Start the divorce if you have both decided the marriage is over. It takes at least 26 weeks, so waiting only adds delay
• List what you have: property, mortgage, savings, pensions, debts and income
• Talk about what feels fair, and get advice if pensions, a business or complex property are involved
• Record any agreement properly rather than relying on a handshake

When to get advice

Consider independent legal or financial advice where there are pensions of real value, a business, complex property, significant debts, or where you are unsure whether what you have agreed is reasonable. CalmSplit can refer you to an independent solicitor. That does not change your £159 CalmSplit fee, and we do not take a fee for the referral.