Neither is it uncommon for one or both parties to meet someone after a divorce financial settlement has been finalised by the courts and for one or both of them to question whether or not this may change the original divorce financial settlement.
What many people often do not realise is that, in some circumstances, this new relationship may have a bearing on their divorce financial settlement.
Whether your divorce financial settlement will be any different due to your new relationship, depends upon your individual circumstances, so it is highly recommended that you speak to a solicitor regarding your situation. However, in order to gain a better understanding of the financial impact a new relationship can sometimes have on a divorce settlement, it is worth taking a look at a few general issues.
If you are cohabiting with your new partner before your divorce financial settlement is finalised, this may be taken into account by a judge and your divorce financial settlement may be different to what it would have been, if you were not cohabiting with someone new.
This is because if asked to decide your divorce financial settlement, a judge will be looking at both yours and your spouse’s circumstances, as well as your needs.
Arguably, if you are living with a new partner, your needs may be less than if you were not in a relationship.
However, a Court of Appeal case in 2016 ruled that an ex-wife of a millionaire was able to keep her £3.5 million divorce settlement, even though she was cohabiting with her partner.
The judge said that financially, the “presence of her new partner in her life did not diminish her needs”.
In this ruling, the Court of Appeal seems to have clarified that a new partner should not necessarily result in a reduced divorce settlement.
Moving in with a partner after the divorce financial settlement has been finalised could result in your ex-spouse asking to reduce spousal maintenance – or even request to stop paying altogether. This is a highly complex area of law so it is important to seek legal advice.
If you get child maintenance from your ex-spouse, this is not usually affected by moving in with a new partner or marrying them.
The other parent will still have a financial responsibility towards their child.
If you decide to remarry after divorce, any maintenance payments will stop. As we mentioned above, this area of law can be highly complicated and often comes down to individual circumstances.
Whether you are already divorced and your divorce financial settlement has been finalised or whether you are still going through the process, if you are concerned, it can be helpful to seek legal advice as to the financial implications of cohabiting with a new partner.
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