Matrimonial Finance Orders: A Guide

Divorce can be one of the most challenging experiences a person may face, and the financial implications add only another layer of complexity. 

For many, sorting out a financial settlement may seem daunting, so whether you're just starting your research or are already going through proceedings, this guide will walk you through the process of obtaining a matrimonial finance order. 

What is a matrimonial finance order? 

A matrimonial finance order is a legal tool that determines how assets and finances will be divided between spouses following a divorce. This includes everything from property and pensions to savings and debts, and is a crucial part of the divorce process, ensuring that both parties have clarity and certainty over their financial position moving forwards.  

The order can cover a wide range of matters, such as lump-sum payments, property adjustments, and regular maintenance payments. They’re important because they prevent future disputes and provide a structured approach to dividing assets.  

The primary aim of any financial settlement is to achieve fairness based on the contributions each partner made during the marriage. This does not necessarily mean an equal split, but rather an equitable one that considers factors such as income, future needs, and the welfare of any children involved.  

Without one, you risk an open-ended financial relationship with your ex-spouse, which can lead to complications down the line. The process of obtaining a matrimonial finance order involves negotiation and, often, the assistance of legal professionals who can guide you through the specifics of your situation. 

What does a matrimonial finance order look like? 

A matrimonial finance order is a formal document issued by the court. This document details all financial arrangements, including how properties and pension rights will be divided, and stipulates any ongoing financial obligations one spouse might have to the other, such as maintenance payments. 

Typically, the order will outline the responsibilities of each party, providing a clear framework that minimises the potential for future conflicts. It's important to have a legal expert, such as a family law barrister, review or draft this document to ensure that all aspects of the financial settlement are accurately represented and legally enforceable. A well-drafted order can protect your interests and prevent further issues. 

How do I get a matrimonial finance order? 

The process of obtaining a matrimonial finance order begins with full financial disclosure, where both parties must openly share their financial affairs. This transparency is crucial for reaching a fair settlement. Once disclosure is complete, negotiations can take place. A family law barrister or mediator can facilitate this.

If both parties reach an agreement, the terms are formalised in a draft consent order, which is then submitted to the court for approval. The court's role is to ensure the agreement is fair and reasonable. If an agreement cannot be reached, the case may go to court, where a judge will make the final decision. This process can be more time-consuming and costly, so reaching an amicable agreement outside of court is generally preferred. 

Important Considerations  

When agreeing a financial settlement, there are several things to keep in mind.  

First and foremost is understanding your rights and obligations under UK law, which aims to reach a fair distribution of assets. It's also vital to think about your current and future needs, including housing, living expenses, and any dependents you may have. 

Also consider the tax implications of your settlement, as these can significantly impact your financial position. Consulting with financial advisors or accountants can provide clarity and help optimise the division of assets.  

Finally, be mindful of the long-term impact on any children involved, ensuring their best interests remain a priority throughout the process. 

Do I need legal support for a financial order? 

Matrimonial finance can be complex, and having the support of an experienced legal professional can be invaluable. A direct access barrister can provide expert guidance whilst bypassing additional solicitor costs, and ensure that all legal requirements are sufficiently met. They can also facilitate negotiations, help draft the necessary documents, and represent you in court if needed.  

While legal support does incur extra costs, it can also prevent highly expensive mistakes.  

What documents will I need? 

Throughout the matrimonial finance process, several key documents are required. These include: 

• Financial disclosure forms (such as Form E, which details your assets, liabilities, and income) 

• Bank statements 

• Property valuations 

• Pension statements  

Having organised and accurate documentation allows for transparent negotiation, reduces misunderstandings, and ensures the court has all necessary information to approve your consent order.  

If you’re considering obtaining legal support for your matrimonial finance proceedings, our barristers may be able to help. Barrister Connect has a wide range of family law specialists, who all hold specific expertise in matrimonial finance, financial orders, and the associated legal proceedings. 

Find out more about our family law practitioners here, or get in touch with our team.