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Does divorce alone end the financial ties?

A divorce on its own does not automatically sever your financial ties, it simply means you are no longer married. Unless a legally binding financial settlement is reached, there is no inherent conclusion to the financial connections. It is advisable to seek a formal financial agreement to ensure a clear separation of financial responsibilities and avoid potential future claims.

It is therefore highly advisable to seek a formal financial agreement. This is particularly important if your divorce is acrimonious but even if you have what is termed an ‘amicable’ divorce, having a legally binding settlement is prudent. The unforeseeable future may bring financial challenges, and if one ex-spouse encounters serious financial difficulties, there may be a temptation to seek additional financial support if the option remains open.

A legally binding financial order after divorce ensures a definitive separation of finances, allowing both parties to move forward with their independent lives. It is important to consult with a family solicitor to obtain legal advice. They can provide guidance on the particular procedures and requirements for concluding financial ties post divorce.

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