As the new year begins, family law teams across the UK are preparing for a significant spike in divorce enquiries – and Banner Jones say they’re already seeing the annual trend emerge
Dubbed ‘Divorce Day’, the first working Monday of January typically sees a surge in people taking the first steps to formally separate, often following a difficult Christmas. But while the no-fault divorce process, introduced in April 2022, has made the procedure more straightforward – and quicker to complete online – Banner Jones is warning that divorcing couples may be overlooking a crucial aspect: their finances.
According to Kelly Parks, Head of Family Law at Banner Jones, many people wrongly assume that once a divorce is finalised, all legal and financial ties are automatically severed.
“In fact, divorce and finances are two separate legal processes,” she explains. “Unless a Financial Remedy Order – often called a Consent Order – is put in place and approved by the court, ex-spouses remain financially linked. That means either party could make a financial claim in the future, even years after the marriage has legally ended.”
The firm reports an increasing number of cases in which one party believed their divorce was “done and dusted”, only to discover that informal financial agreements – even when amicably made – offer no legal protection. Without a Consent Order in place, former partners may still claim against pensions, property or other assets at a later stage.
“People change their minds,” says Kelly. “Hindsight, regret, or simply a change in personal circumstances can lead someone to revisit financial matters years down the line. If the claims haven’t been legally dismissed, they can – and often will – pursue them.”
The family law team at Banner Jones, which has offices across South Yorkshire, Derbyshire and Nottinghamshire, is advising anyone considering divorce this January to seek legal advice as early as possible – especially where financial arrangements or children are involved.
The firm also stresses that divorced individuals who have not yet finalised their financial matters should act swiftly to protect themselves from potential future claims.
In addition to financial arrangements, Kelly notes the importance of agreeing parenting arrangements calmly and constructively. “Where possible, we encourage separating parents to agree future arrangements for their children in a non-confrontational and amicable way,” she says. “If that’s not achievable, it’s important to seek advice early. Negotiation is always the starting point, but if court involvement becomes necessary, applications such as for a Child Arrangements Order can be made – and the court will always act in the best interests of the children.”
As the emotional and financial implications of separation continue to evolve in the era of no-fault divorce, Banner Jones is urging separating couples to take a comprehensive, legally robust approach – and not to let speed or cost-cutting result in long-term vulnerability.
Contact our team at info@bannerjones.co.uk
