What do I do about the matrimonial assets following separation?
Following the breakdown in a marriage you should address and resolve the financial matters. Many people do not realise that even after divorce proceedings are concluded, financial claims remain live and this means that either the ex-husband or the ex-wife can make further financial claims in the future. It is therefore always advisable to address all issues and reach a financial settlement following a separation. If there are divorce proceedings, the terms of the financial settlement should be detailed in a "Consent Order" which would be signed by both the husband and the wife and would be filed with the Court for approval and sealing within the divorce proceedings. Once approved and sealed by a Court, a Consent Order becomes a legally binding Order. If a couple simply wish to separate for the time being but not seek a divorce, a financial settlement should still be reached. Rather than a Consent Order, the financial settlement should be detailed in a "Deed of Separation" and both parties will sign that Deed.