Legal Financial Remedy Order

LEGAL FINANCIAL REMEDY ORDER

This Financial Remedy Order is made on this date: between Applicant Name: of Address: ("Applicant") and Respondent Name: of Address: ("Respondent"). Court Case Number: . Presiding Judge: .

RECITALS

WHEREAS the parties were married or in a civil partnership on and have separated on or about ;

WHEREAS both parties have filed full and frank financial disclosure and exchanged statements of assets, liabilities, income and expenditure in accordance with court directions and the court is satisfied that the parties have had a fair opportunity to inspect and verify financial documentation and to make submissions;

WHEREAS the court has considered the relevant statutory factors including the welfare of any child of the family, the parties' needs, and the conduct and contributions of the parties and deems it appropriate to make the orders set out below.

NOW THEREFORE the court ORDERS as follows:

1. DEFINITIONS

In this Order, unless the context otherwise requires: "Assets" means all property, real and personal, including bank accounts, investments, pensions and real estate beneficially owned by either party; "Lump Sum" means a single capital payment; "Pension Rights" means accrued scheme rights whether or not crystallised.

2. JURISDICTION

The court confirms it has jurisdiction to make the financial orders contained herein and that the orders are effective and enforceable within this jurisdiction. Any sums payable under this Order shall be payable to the payee named in this Order unless otherwise stated.

3. DISCLOSURE AND DOCUMENTATION

Each party shall promptly deliver to the other and file with the court any outstanding financial documents identified in the court directions, including but not limited to bank statements, pension valuations, tax returns and valuations of real property within days of the date of this Order. Failure to comply may result in contempt proceedings, costs or other sanctions.

4. INCOME AND MAINTENANCE

The Respondent shall pay to the Applicant spousal maintenance in the gross amount of per frequency: Weekly Monthly Other If "Other" selected, specify: Payments shall commence on and shall continue until the earliest of (a) further order of the court, (b) the death of either party, or (c) .

5. LUMP SUM AND PROPERTY TRANSFER

The Respondent shall pay a lump sum of to the Applicant by no later than . If payment is not made by the due date interest shall accrue at the rate of % per annum from the due date until payment.

The following real property shall be transferred or re-titled to the Applicant: Property Description: . Transfer is to be completed no later than . The Respondent shall execute all documents necessary to give effect to the transfer within 14 days of request.

6. PENSION ORDERS

The court orders a pension sharing / offsetting order in respect of the Respondent's pension scheme identified as: . The pension sharing percentage is %. The pension actuary or administrator shall provide any requisite valuation and documentation within days.

7. SECURITY AND CHARGING

To secure any unpaid lump sums or capital obligations under this Order, the court grants the Applicant a charge over the Respondent's interest in the property described above until debts are discharged in full. The charge may be registered against title and enforced in accordance with applicable law.

8. ENFORCEMENT

If any monetary obligation under this Order is not performed on the due date the payee may apply to the court for enforcement remedies, including but not limited to garnishee proceedings, charging orders, committal for contempt or appointment of a receiver. The court may also award interest, costs and such ancillary relief as it considers just.

9. TAX CONSEQUENCES

Each party shall be responsible for any tax consequences arising from payments or transfers made pursuant to this Order. Where the law requires withholding or reporting, the paying party shall comply and shall provide the payee with reasonable documentation of any tax deductions within 30 days.

10. COSTS

The parties shall bear their own legal costs of the application except as follows: The court reserves the right to make further provision for costs upon application and after consideration of conduct and proportionality.

11. NOTICES

Any notice required or permitted to be given under this Order shall be in writing and shall be delivered by hand or sent by certified mail to the addresses set out below or to any other address subsequently notified in writing:

12. VARIATION, WAIVER AND AMENDMENT

This Order may be varied by subsequent order of the court. No term of this Order may be waived except by a written agreement signed by both parties and approved by the court. Any agreement purporting to vary this Order without court approval is of no effect to the extent that court approval is required by law.

13. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Order shall be governed by and construed in accordance with the laws of the jurisdiction of the issuing court. This Order constitutes the entire financial remedy between the parties insofar as the court's financial jurisdiction extends and supersedes any prior oral or written agreements insofar as expressly stated. If any provision of this Order is held to be invalid or unenforceable this shall not affect the remainder of the Order, which shall continue in full force and effect.

14. SEVERABILITY OF OBLIGATIONS

Each monetary obligation under this Order is separate and severable. The invalidity of any part of one obligation shall not render the remainder of that obligation or any other obligation invalid.

15. MISCELLANEOUS

The parties undertake to execute any documents, including transfer deeds and pension forms, necessary to give full effect to this Order within 14 days of any reasonable request by the other party or as ordered by the court.

CERTIFICATION

The court certifies that the parties were given the opportunity to be heard, that the findings and orders set out above have been considered in accordance with applicable procedural rules, and that the court considers the orders just and equitable in all the circumstances.

Sign Now