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You are here: Home >> News Section >> Financial/Property Orders made on foot of a Separation or Divorce |
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| News: Financial/Property Orders made on foot of a Separation or Divorce |
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| The following are the Orders that a Court might make on foot of a Judicial Separation or a Divorce: | | |  | Periodical Payment Orders |
| | A Periodical Payment Order usually requires that a payment be made by a husband for the support of a wife and/or dependent children on a weekly, fortnightly or monthly basis. An Order for Periodical Payments may be backdated to the date of the institution of the Proceedings. Most Periodical Payment Orders are unsecured. Where a Periodical Payment Order is secured, the required security may be Property, Capital Funds, Stocks, Shares or other Investments. |
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| Lump Sum Orders |
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| The Court may order either Spouse to make to the other a lump sum payment of such amount or amounts and at such time or times as is specified. A Court cannot make such an Order in favour of a Spouse who has remarried. The Court may order the payment of a lump sum by way of instalments. |
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| Property Adjustment Orders |
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| In making a Property Adjustment Order the Court may provide for one or more of the following: |
a) The transfer of specified property by one Spouse to the other Spouse, to any dependent child or to any specified person for the benefit of such child.
b) The settlement of such specified property for the benefit of the other Spouse and for the benefit of any dependent child.
c) The variation for the benefit of either Spouse and/or for the benefit of any dependent child of any anti nuptial or post nuptial settlement made by the Spouses, including any such settlement made by Will or Codicil.
d) The extinguishment or reduction of the interest of either of the Spouses under any such Settlement. A Property Adjustment Order can be made in respect of any property owned by a Spouse whether the property was purchased, inherited or otherwise acquired either before or after the marriage. A Property Adjustment cannot be made in favour of a Spouse who re-marries.
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| Orders For Exclusive Residence In Or For The Sale Of Family Home |
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| The Court can make Orders specifically relating to either the occupation or the sale of the family home. The Court can make an Order conferring on one Spouse either for life or for such other period as the Court may specify the right to occupy the family home to the exclusion of the other Spouse, or direct the sale of the family home subject to such conditions as the Court considers proper and provide for the disposal of the proceeds of the sale between the Spouses and any other person having an interest therein. The Court may order for example that a sale take place on condition that the house be not placed on the market for sale until a specified date or event for example until the completion by a child of a Junior or Leaving Certificate examination or until the child completes his full time education. |
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| Financial Compensation Orders |
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| A Financial Compensation Order requires a Spouse to do one or more of the following: |
a) To effect a Policy of Life Insurance for the benefit of the other Spouse or dependent child.
b) To assign the whole or a specified part of a Spouse’s interest in a Policy of Life Insurance effected by that Spouse or by both Spouses to the Applicant Spouse or to a specified person.
c) To make or to continue to make payments which one or both Spouses are required to make under the terms of a Life Assurance Policy.
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| Pension Adjustment Orders |
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The Court can make a Pension Adjustment Orders in relation to:
Retirement Benefit
Contingent Benefit
Either Spouse may apply for a Pension Adjustment Order for his or her benefit or for the benefit of a dependent child. In deciding whether to make a Pension Adjustment Order, the Court is required to have regard to the question of whether provision exists or can be made for the Spouses concerned or any dependent child by way of other Orders.
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| Succession Rights Extinguishment Orders. |
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The Court may make an Order extinguishing the share that either of the Spouses will otherwise be entitled to in the Estate of the other as a legal right or intestacy under the Succession Act of 1965 if the Court is satisfied that adequate and reasonable financial provision exists or can be made for the Spouse’s Succession Rights are in question. The Court has to be satisfied when they are making an Order extinguishing Inheritance Rights that proper provision is made for the Spouse concerned having regard to all the circumstances.
The main requirement before making any of these Orders is that the Court must be satisfied that “proper provision” is made in respect of both Spouses and dependent children.
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 For further information, please contact Marion Campbell Solicitors by calling (01) 475 9345, or by filling out an on-line enquiry form. |
