The courts reserve the right to extend the period during which maintenance must be paid – or not, as the case may be.Maintenance obligations may end if the recipient begins living with someone new (cohabiting), and will, as mentioned, automatically end if they remarry.That is after all what is going to shape your and your children’s lives for however many years to come.Generally reaching the financial settlement stage comes as a relief to divorcing couples.Once they have done so, the settlement becomes a binding ‘financial order’.Financial settlements used to be called ‘ancillary relief’ because they were seen as ancillary to the main event, the petition for divorce. Surely it is the financial settlement that is the main event?It is often the first point in the drawn-out end of the marriage when the former partners can begin can begin to think about the future, putting the hurt and acrimony behind them.
This is where the courts set down the terms of the deal between you and your former partner in black and white.
If you have more than one child, car or property, a separate budget can be prepared for each if necessary.
This means that the separate costs can be identified far more easily and clearly displayed.
It makes no sense to exaggerate or underplay your budgets when filing our your Form E. Your future housing needs and income requirements are some of the most critical parts of your Form E, so investigate and do your homework before submitting this information to the court.
Your solicitors should be able to provide budgetary advice, but if not, our worksheet could be a useful starting point.