Solicitor and Partner
Family Services Team
Bridge McFarland
Psychologists and researchers widely recognise divorce as one of the most challenging and emotionally demanding life events a person can experience. For many individuals, it is a deeply distressing process that involves a profound sense of loss, changes to identity and personal relationships, and significant social, familial, logistical and financial upheaval.
While the emotional impact of divorce is often the most immediate concern, it is equally important to consider the long-term financial and legal consequences. The decisions made during divorce proceedings can have a lasting effect on your financial security, estate planning and future wellbeing. Taking proactive steps at an early stage can help protect your interests and provide greater certainty as you move forward.
The financial aspects of a divorce can be particularly complex, especially where you and your former spouse are unable to agree on how matrimonial assets should be divided. It is a common misconception that the Final Order of Divorce severs all ties, but you will need a Financial Order to formally sever the financial ties between you and your former spouse. If you and your spouse can reach an agreement in terms of the division of assets a Solicitor can prepare the financial order for you reflecting that agreement. If you and your spouse are unable to agree the division of assets, in these circumstances, either party may apply to the court for a financial order, allowing the court to determine an appropriate settlement based on the specific circumstances of the case. However, court proceedings are generally more time-consuming, more expensive and often more stressful than reaching a negotiated settlement or resolving matters through alternative dispute resolution, such as mediation.
Protecting Your Financial Future
Once a financial settlement has been reached, it is important to ensure that your financial affairs are up to date and protected. The following steps can help safeguard your future after divorce:
- Clean Break Order: Where appropriate, you can safeguard your future following a divorce by obtaining a Clean Break Order, a type of financial order that formally severs financial ties between you and your former spouse. A family solicitor can advise whether a Clean Break Order is suitable in your case and ensure that the order includes provisions dismissing future financial and inheritance claims. This provides greater certainty for both parties and helps prevent your former spouse from making a claim against your estate at a later date.
- Review pensions and investments: Pension assets are often among the most valuable financial resources considered during divorce proceedings. If a Pension Sharing Order (PSO) has been made, it is essential to ensure that it is implemented correctly and within the required timescales. You should also review any remaining pension arrangements, investment portfolios and savings accounts to ensure they continue to reflect your financial objectives. Updating the nominated beneficiaries on your pension schemes is equally important, as these nominations may not automatically change following a divorce.
- Consider tax implications: Be mindful of the Capital Gains Tax (CGT) implications of transferring assets following a divorce. Seeking professional legal and financial advice can help you understand your tax position and ensure that you make full use of any available personal tax allowances and reliefs. Careful planning can minimise unnecessary tax liabilities and help preserve your financial position.
Update Your Will and Estate Planning
When you divorce, you should also review and update your Lasting Power of Attorney and prepare a new will. Under UK law, a divorce does not automatically revoke an existing will in its entirety; instead, it generally treats your former spouse as though they had predeceased you, which may have significant implications for the administration of your estate. As such, it is important that you do the following:
- Rewrite your will: Although a divorce generally treats a former spouse as having predeceased you for the purposes of an existing will, this can give rise to partial intestacy or other unintended consequences. To ensure your wishes are clearly reflected, it is advisable to prepare a new will that appoints your chosen beneficiaries, executors and, where applicable, guardians for your children.
- Review other legal directives: You should also review and update any legal and financial arrangements to ensure your former spouse is removed where appropriate. This includes revoking or amending any Lasting Power of Attorney (LPA) in which they are appointed, as well as updating the nominated beneficiaries of any life insurance policies to reflect your current wishes.
- Appoint trustees for children: If you have children under the age of 18, you should consider incorporating appropriate trust provisions and appointing legal guardians in your new will. This helps protect your children’s inheritance and ensures their financial interests are safeguarded until they reach adulthood.
Seek Professional Guidance
Divorce is rarely straightforward. Even where both parties remain amicable, legal, financial and practical issues can quickly become complex. Most divorces take between 6 and 7 months (around 26 weeks) to conclude, although more complicated matters involving finances or children may take considerably longer.
Seeking advice from an experienced family solicitor at an early stage can help you understand your legal rights, negotiate a fair financial settlement and avoid costly mistakes. Where appropriate, your solicitor can also work alongside financial advisers, tax specialists and estate planning professionals to ensure that every aspect of your post-divorce arrangements is properly considered.
With the right professional guidance, you can navigate the divorce process with greater confidence, protect your financial interests and establish a secure foundation for the future. Although divorce represents the end of one chapter, careful planning and informed legal advice can help ensure that the next begins on the strongest possible footing.
About Rachel Miskin
Rachel is a Solicitor and Partner at Bridge McFarland‘s Family Services team.
Rachel assists with a wide range of family matters including divorce and financial disputes following the breakdown of marriage or separating parties together with issues arising in relation to children. Rachel is a compassionate solicitor who deals with cases involving local authorities, providing advice and representation to parents.
Rachel is also proud to be heavily involved in the recruitment, development and supervision of Bridge McFarland‘s Trainee Solicitors.
Rachel is the Chair of Women in Business Hull for 2026.