Life admin and divorce

Divorce can be a stressful process and for many individuals, once it is over, they want to move on with their lives as quickly as possible. It is, however, important to ensure that before finalising the divorce that proper steps are taken to complete the “life admin” that arises from a divorce. 

I have set out below some examples of this life admin together with some useful tips on what anyone considering a divorce, or for those already involved in one should think about addressing.

The first task

The main priority is to ensure the financial aspects of the divorce have been dealt with. Simply obtaining a divorce does not sever a couple’s financial ties from one another. Married couples are under a duty to support one another and this duty does not automatically come to end on divorce. Only a Court Order can bring it to an end. 

It is necessary to ensure any financial agreement about how the assets of a marriage (e.g. a house, savings, investments etc) are to be divided is recorded in a Court Order. If an agreement is not possible, a Court can decide this for you. 

What is important to note is that without any Court Order dealing with the division of assets, it is possible for either party to a divorce to make a financial claim against the other – this is irrespective of whether the divorce has been finalised or not.

To really highlight the importance of this, imagine a scenario whereby a couple divorce. They agree between themselves how they will divide their assets but do not record this in any Court Order. 

A few weeks later, one of them wins £ 5 million in the lottery. Because there is no Court Order, the party who did not win can make a claim against the one that did for financial provision. 

In other words, they can ask for some of the winnings. If a Court Order had been in place, they would not be able to do so. Now imagine you are the party holding the winning ticket….

Whilst the above scenario may be a little far-fetched, it has happened and could happen again, even if it is to a lesser extent, individual's finances can change. It is therefore important to get that Court Order put in place.

Further life admin

When the finances are sorted (and that lottery ticket is all yours), think about some of these other life admin tasks as well:

1. Ensure your Decree Absolute or Final Order is kept by you, in a safe place. If you want to remarry in the future or you need to evidence of your marital status, that is the document you will be asked for.
2. Do you have a Will? If so, think about updating it, particularly if it names your ex-spouse. If you do not have a Will, you may want to put one in place. This may be particularly important if you have children but also, to ensure your estate is able to be left in accordance with your wishes.
3. Do you have a Death in Service policy? If the answer is yes, check who is the beneficiary of that policy and whether you wish to change who that is.
4. Do you want to change your name? Many individuals like to revert to their maiden name after a divorce. If you want to, speak to us about a Change of Name Deed. It is easy and can be put in place within just a few days.
5. If you have a new partner and are thinking of moving in with them and/or marrying them, ensure you protect your finances with a Cohabitation Agreement or a Nuptial Agreement. Speak to us about what your options are and what may be best for you.

Finally, and perhaps most important of all, do something that is just for you whether it is taking that holiday you have been dreaming of or buying yourself something nice.

If you have any questions about what you should be doing, either during or after your divorce, please get in touch for an initial free 15-minute consultation. I can be contacted on 01245 453846 or at [email protected].