The introduction of no-fault divorce earlier this year has led to a significant increase in couples applying for a divorce without assistance and advice from family law professionals. Whilst this is generally considered to be a positive step forward, it is important that individuals are aware of the risks of proceeding with, and finalising their divorce without also considering their financial position.
The significant drop in financial applications recently probably flows from the mandatory twenty week reflection period imposed by the new legislation. This period follows the divorce application so the parties cannot progress to the conditional order stage of the divorce without a considerable wait. After the conditional order is made the court has the power to consider and make financial orders. The drop in financial applications may simply reflect the period divorce applications under the new law take to "catch up" to the conditional order stage.
However, this article serves as an important reminder that despite the relative ease of the new divorce application, it is vital to take early legal advice in relation to other aspects of your separation and most importantly, to address the financial position. If you don't, you could get a nasty surprise if your ex makes a financial claim against you at a later date.