You can reach agreement direct with your spouse regarding the financial aspects of the divorce if you so wish. You should bear in mind however that no agreement is legally binding in these circumstances until it is recorded in a document called a Consent Order and approved by the court after the Decree Nisi in the divorce has been pronounced. 

You should also consider the risks of doing so if you do not have a full understanding of your spouse’s financial circumstances. Usually the parties to a divorce exchange financial disclosure which enables their respective solicitors to advise them on the range of possible outcomes. There are then subsequent negotiations which hopefully lead to settlement.  There is no question that agreeing matters direct is the cheapest option to resolve matters, but you need to be able trust your spouse that the information they are giving you is correct. 

Even if you do reach a settlement direct obtaining the approval of the court is not simply a rubber stamping exercise. The court can and does query settlements if they appear to be weighted heavily against one party. The court will also only approve settlement if the parties provide basic information in relation to their capital, income, liabilities and pensions.  Consent Orders can be set aside if it can be shown that one party lied in relation to this information in such a way that would have been material to the settlement.  

George Green’s Specialist Family and Divorce Lawyers give advice regularly on the financial aspects of divorce. If you wish to discuss your matter in a free initial telephone consultation call Jane Williams on 01384 340 528 (jwilliams@georgegreen.co.uk) at our Cradley Heath office.