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Showing results for tags 'financial remedy order'.
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This is a tricky situation, here's the breakdown of how Child Maintenance Service (CMS) calculations interact with Financial Remedy Orders Generally, No - But There Are Exceptions 12-month Rule: A Financial Remedy Order typically includes a clause about child maintenance. However, after 12 months, either parent can approach the CMS to calculate child maintenance. If this happens, the CMS calculation overrides the amount in the order. Why this exists: It's a safeguard to ensure children's needs are met even if circumstances change significantly. When the CMS Can't Intervene "Top-Up" Orders: If the court order specifies a child maintenance amount higher than the CMS would calculate, the CMS cannot get involved. This is often done when complex financial situations exist. Specific Circumstances: There are rare cases where the court might make a child maintenance order that's specifically designed to be outside the CMS's jurisdiction. This is unusual and requires strong justification. What if the CMS is Asked to Calculate? Potential for Increase: If the paying parent's income has increased significantly since the Financial Remedy Order, the CMS might calculate a higher amount. Not Always Higher: It's also possible the CMS calculation could be lower than the agreed amount, depending on circumstances. Important Considerations Variation of Orders: If circumstances change significantly, it's possible to apply to the court to vary the original Financial Remedy Order. This is separate from the CMS process. Legal Advice is Crucial: If you're facing a situation where the CMS might be asked to calculate, or if you want to vary an existing order, get legal advice from a family law specialist. If your ex is trying to use the CMS to increase the child maintenance payments you should Check your Financial Remedy Order: Does it have a standard child maintenance clause, or is it a "top-up" order? Seek Legal Advice: A solicitor can advise you on whether the CMS can intervene and what your options are, including potentially varying the order. It's important to act quickly and understand your rights and obligations. Sources and related content https://www.kingstreetsolicitors.co.uk/understanding-financial-remedy-orders/ https://www.thedivorcesurgery.co.uk/child-maintenance-calculations-and-the-cms/#:~:text=Any such Order would only,CMS for an updated assessment. https://www.thefamilylawco.co.uk/blog/children/what-you-need-to-know-about-child-maintenance/#:~:text=Whatever sum the CMS stipulates,Q.
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A Financial Remedy Order (also known as a financial order or a consent order) is a legally binding agreement made by a court in England and Wales during divorce or dissolution of a civil partnership. It sets out how a couple's assets will be divided and any ongoing financial arrangements. It covers the following ... Division of assets Property (family home, other properties, sometimes inherited property) Savings and investments (bank accounts, ISAs, shares) Pensions (often a significant asset, may involve pension sharing) Other assets (cars, artwork, valuable items) Financial support Spousal maintenance (regular payments from one party to the other) Child maintenance (payments for the financial support of children) When is it necessary? When a couple can't agree on how to divide their finances during a divorce or separation. To formalize an agreement reached between the couple, making it legally binding. How is it obtained? If an agreement is reached, it can be submitted to the court for approval as a consent order. If no agreement is reached, the court will make a decision after a series of steps, including: Form E: Financial disclosure by both parties. First Appointment: Preliminary court hearing. Financial Dispute Resolution (FDR): Attempt to reach an agreement with a judge's help. Final Hearing: If no agreement at FDR, a judge makes a final decision. Key Features Legally binding: Both parties must comply with its terms. Finality: Aims to provide a clean break and prevent future financial claims. Flexibility: Can be varied in certain circumstances (e.g., significant change in financial situation). Benefits Ensures a fair division of assets and provides financial security. Avoids future disputes by clearly outlining financial arrangements. Provides a clean break, allowing both parties to move forward. Important: It's crucial to seek legal advice from a family law specialist to understand your rights and options regarding financial remedy orders. Sources & Related Content https://www.gov.uk/money-property-when-relationship-ends/get-court-to-decide https://osborneslaw.com/blog/financial-remedy-order/#:~:text=A Financial Remedy Order is,other assets after a separation. https://anthonygold.co.uk/latest/blog/financial-settlement-in-divorce-guide https://www.fjg.co.uk/financial-remedy-order-affect-welfare-benefits/#:~:text=It can include provisions for,spousal maintenance%2C and pension sharing. https://www.brabners.com/insights/brabners-personal/a-guide-to-financial-remedy-proceedings#:~:text=Financial remedy proceedings are a,dissolution of a civil partnership. https://resolution.org.uk/looking-for-help/splitting-up/your-process-options-for-divorce-and-dissolution/representing-yourself-in-court-as-a-litigant-in-person/financial-applications/ https://www.weightmans.com/insights/a-guide-to-financial-remedy-proceedings/ https://www.kingstreetsolicitors.co.uk/understanding-financial-remedy-orders/#:~:text=The order states how the,fair settlement to both parties. https://mensadviceline.org.uk/legal-information/the-court-process-for-obtaining-a-financial-order/#:~:text=The only people present will,a solicitor or a barrister.
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