what is a financial order in divorce uk

A financial order is a legal document that outlines the financial agreement between parties who are separating or divorcing. In the UK, when couples divorce or end a civil partnership, they need to agree on how to separate their finances, including deciding how to divide pensions, property, savings, and investments. If the couple agrees on how to divide their money and property, they can apply for a consent order to make it legally binding. A consent order is a document that makes the financial agreement legally binding and usually includes a clause that ends any future claims the parties may have. If the couple cannot agree on everything, they can ask a court to make a financial order. A financial order is a court order that describes how the assets will be split, including pensions, property, savings, and investments, and can also include arrangements for maintenance payments, including child maintenance. A financial order will describe how the assets will be divided and will only take effect after the couple gets their final order or decree absolute. It is important to note that a financial order severs the financial commitment between the parties, meaning neither person can make a claim in the future.