The Importance of Managing Finances During Divorce: Insights from Mark Keenan

Divorce can be one of the most challenging experiences in life, and while online divorce services have made the process more accessible and affordable, many couples overlook a critical aspect: financial agreements.

Statistics from the UK family court system highlight a concerning trend—48% of online divorces fail to address financial matters properly. This oversight leaves many individuals vulnerable to future claims, even years after the divorce has been finalised. Mark Keenan, Managing Director of Divorce-Online, draws on his 25 years of experience in family law to underscore the importance of formalising financial agreements with a consent order.

Why Financial Agreements Are Essential

A divorce may officially end a marriage, but it doesn’t sever financial ties unless a legally binding financial agreement is in place. “A divorce isn’t truly final unless finances have been dealt with through a consent order, particularly a clean break,” explains Keenan. Without a consent order, either party could make financial claims against the other in the future, potentially leading to costly disputes or legal battles.

For example, property, pensions, savings, and even future earnings remain open to claims without proper documentation. A clean break consent order ensures that all financial matters are resolved, allowing both parties to move forward without fear of unexpected claims.

The Risks of Self-Filing at Gov.uk

While self-filing for divorce at gov.uk may seem like a cost-effective solution, it comes with significant risks. Many individuals using this route lack the legal knowledge required to navigate complex financial matters. As a result, crucial issues such as pension sharing, property division, and spousal maintenance are often overlooked or mishandled.

“We see it all too often,” says Keenan. “Couples who self-file often believe their divorce is finalised, only to discover years later that their ex-spouse can make a claim against their assets. This can happen even after one party has remarried or acquired new property.”

Failing to address financial matters thoroughly can lead to long-term financial difficulties, including unexpected claims that could jeopardise financial stability. Seeking professional advice early in the process is essential to avoid these pitfalls.

Mark Keenan: A Trusted Authority in Family Law

With over 25 years of experience in family law, Mark Keenan has helped thousands of couples navigate the complexities of divorce and financial settlements. As the founder and Managing Director of Divorce-Online, the UK’s original and highly trusted online divorce service, Keenan has been at the forefront of transforming how divorces are handled. His expertise has not only made divorce more accessible but has also ensured that clients receive professional guidance to secure their financial futures.

In 2017, Divorce-Online acquired a firm of family law solicitors, OLS Solicitors. This strategic acquisition enabled the company to expand its services, providing clients with a comprehensive 360-degree solution for all manner of family law matters. From divorce and financial agreements to child arrangements and spousal maintenance, clients now benefit from a seamless and fully integrated service.

Keenan’s approach combines technology with legal expertise to provide cost-effective solutions. Under his leadership, Divorce-Online has become synonymous with reliability, helping over 200,000 couples successfully finalise their divorces. His deep understanding of UK family law makes him a sought-after expert on issues ranging from clean break consent orders to pension sharing arrangements.

The Role of Consent Orders in Financial Security

A consent order is a legally binding document that outlines the financial agreement between divorcing parties. It can cover a range of financial matters, including:

• Division of Property: Ensuring a fair split of the marital home and other assets.
• Pension Sharing Orders: Guaranteeing that pension funds are divided equitably.
• Savings and Investments: Clarifying how joint savings or investments will be distributed.
• Spousal Maintenance: Establishing any ongoing financial support.

Without a consent order, both parties remain financially tied, leaving the door open for future disputes. This is particularly concerning in cases where significant assets are involved, or where one party anticipates an increase in their earnings or property value.

Avoiding Common Mistakes in Financial Settlements

Keenan advises couples to avoid common pitfalls, such as relying solely on verbal agreements or failing to consult a legal professional. “Verbal agreements might seem amicable at the time, but they carry no legal weight. Without a formal consent order, there’s nothing stopping your ex-partner from making a claim in the future,” he warns.

Another common mistake is choosing the cheapest or quickest route without considering the long-term implications. While online divorce services like those offered by Divorce-Online are affordable, they also provide access to expert advice, ensuring that clients don’t sacrifice quality for cost.

How Divorce-Online Can Help

Divorce-Online offers a comprehensive service that combines affordability with expertise. Their fixed-fee consent order service ensures that all financial matters are resolved legally and fairly. Unlike self-filing, Divorce-Online provides professional guidance to help clients avoid costly mistakes.

“Our mission has always been to make divorce straightforward and affordable while ensuring that clients receive the legal protection they need,” says Keenan. “With our fixed-fee consent order service starting at just £299, we provide an accessible solution for couples looking to secure their financial futures.”

The Bottom Line: Protect Your Future

Divorce is a significant life event, and ensuring a clean break is critical to moving forward without financial uncertainty. Mark Keenan’s 25 years of experience in family law serve as a testament to the importance of seeking professional advice and using trusted services like Divorce-Online.

By formalising financial agreements through a consent order, couples can avoid future disputes and gain peace of mind knowing their financial futures are secure. Don’t leave your financial wellbeing to chance—invest in expert guidance and take the first step toward a truly finalised divorce.