Divorced couples believe that, once the divorce is finalised, all ties financial or otherwise to each other are severed. However, a divorce brings only the marriage to an end. Either party to the marriage could, in future, make a financial claim.
Whether or not financial proceedings have been dismissed, a general rule of thumb is that all matrimonial assets be divided equally, unless there is good reason to depart from this principle.
The Euromillions Jackpot tonight is a record breaking £191m, a huge proportion of population will test their luck hoping to win this life-changing prize.
Were you to win £191m and your ex-spouse became aware of your outrageously good luck, he or she could look to share in your good fortune. We must advise that he or she might be successful if following your divorce proceedings, basic steps were not taken to put an end to those financial claims. Your ex-husband, ex-wife or ex-civil partner will seek the advice of his or her solicitor to demand a share of your prize. This could apply not only to lottery winnings, but inheritance, accumulated capital, property, or income from a successful business.
The Supreme Court ruled (7 years ago) in the case of Wyatt v Vince*, that his ex-wife was entitled to make a financial claim, notwithstanding the fact that the marriage had broken down some 31 years earlier, and 13 years before the husband accumulated his multimillion-pound status.
Lord Wilson in judgement stated that:
“consistently with the potentially life-long obligations which attend a marriage, there is no time-limit for seeking order for financial provision or property adjustment for the benefit of a spouse following divorce.”
Ultimately, the former wife received a lump sum payment of £300,000 from the former husband, in addition to a substantial contribution towards her legal costs.
Aristone Solicitors always advise our clients, be they husband or wife or civil partners, to discuss and negotiate a financial agreement before the divorce proceedings have concluded. As a rule of thumb, 90% of our clients reach an agreement and a Clean Break Consent Order (a document approved by the Court, detailing the agreement reached between the parties). Those who cannot reach agreement look to the Family Court to consider their positions, the Court making a final order.
You will require legal advice, support and guidance when your divorce and financial settlement negotiations commence. Aristone Solicitors are best placed to provide the detailed legal advice you will require. Instruct Aristone Solicitors and divorce without remorse.
*Wyatt (Appellant) v Vince (Respondent) [2015] UKSC 14
