In our previous article, we explored the differences between divorce in England and Italy. In this piece, we explore one crucial aspect of financial matters in divorce proceedings: the importance of achieving a clean break.
In England, financial matters must be settled separately from the divorce itself, whereas, in Italy, the divorce process typically concludes all financial matters simultaneously. This distinction is significant, as it underscores the importance of addressing financial issues thoroughly during the divorce process.
In England, even after a divorce is finalised and a decree absolute or final order is granted, unresolved financial matters can lead to future claims. Without a financial order, a former spouse retains the right to make a claim against you, regardless of how long ago the divorce was finalised. This emphasizes the need for a comprehensive approach to financial settlements.
It is advisable to resolve financial matters before the divorce is finalised. If financial issues are left unresolved, the final divorce order could complicate the division of assets. Even if financial resources are currently limited, future changes in circumstances—such as receiving an inheritance, career advancement, or winning the lottery—could lead to a claim against you if financial matters were not settled.
To avoid future claims and economic dependency, it is crucial to finalise financial matters alongside the divorce. A clean break order ensures that neither party can make future claims related to the marriage. This order provides closure and prevents any ongoing financial obligations or claims.
Financial matters can be resolved through an agreement between the parties, often facilitated by solicitors who draft a consent order reflecting the agreement. Once approved by the court, this order becomes enforceable. If an agreement cannot be reached, the court will intervene to divide the assets. Even in cases where financial means are limited or assets are already divided, a clean break order can and should be obtained to finalise financial matters.
Negotiating financial settlements can be complex, especially when significant assets are involved or there are international elements to the same. Legal professionals can provide guidance and help you navigate the process to achieve a fair resolution. If you have already initiated a divorce or finalised one without addressing financial matters, it is essential to seek legal advice to ensure all financial aspects are properly handled.
Understanding the differences in divorce proceedings between England and Italy highlights the importance of a clean break in financial settlements. Whether you are dealing with ongoing divorce proceedings or revisiting financial matters post-divorce, ensuring a clean break can protect you from future claims and provide financial stability.
For more information on how matrimonial assets are divided in England versus Italy, refer to our previous article on the subject.
If you have any questions or need assistance with your divorce and financial matters, please do not hesitate to contact us. Our team is here to provide the support and expertise you need to navigate this process effectively.
This article is for general information only and does not constitute legal or professional advice. Please note that the law may have changed since this article was published.
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