Divorcees who are considering remarrying should be aware of the potential financial risks of the ‘remarriage trap’.
Financial problems can arise where an individual unwittingly believes they have concluded their divorce but have not finalised the terms of the financial settlement with their former spouse.
When a divorcee re-marries, without first obtaining a Final Financial Order, they are at risk of falling into the remarriage trap and, as such, will not be able to apply for financial relief from their former spouse. This includes lump sum orders, property adjustment orders, periodical payment orders and pension attachment orders.
Stuart Daniel, Mander Hadley’s Family Department Head, who specialises in all aspects of family law including financial settlements, explained: “While a final divorce order ends a marriage, it does not automatically draw a line under potential financial claims at a later date.
“It is important that both parties ensure that all loose ends are tidied up by obtaining a Final Financial Order. The best time to do this is during the divorce proceedings, before the divorce is finalised. This provides certainty for both parties and avoids the risk of future disputes and the possibility of costly litigation further down the line.”
Financial Orders can be obtained by mutual agreement out of court, or where an agreement cannot be reached, it may be imposed on the parties by a judge.
If you have concerns about your exposure to financial issues post-divorce or need advice on arranging a financial settlement, it is important to seek specialist legal advice.
For help and advice, please get in touch with our expert Family Law team.
Head of Family Department
I qualified as a Solicitor in 2006, having undertaken a work experience placement at Mander Hadley while studying for my Law Degree at the University of Leicester.
Latest posts by Stuart Daniel (see all)