Ever increasing court costs and lack of Legal Aid has meant many separating couples have simply sold up and walked away without any legally binding agreement or order.
In this week’s decision by the Supreme Court in Wyatt -v- Vince, the court have permitted an ex wife to proceed with a financial claim against her ex husband over 22 years after they divorced.
At the time of separation the couple had little or no financial assets. Since the separation the husband has established and grown a business purportedly worth in excess of £100 million.
Although the merits of the ex wife’s future claims are still subject to the scrutiny of the court, the case highlights how important it is upon divorce or separation to also finalise financial matters by way of a final court order dismissing all future claims.
Court orders can be made by agreement without protracted and expensive court proceedings, but as this case highlights they are essential in avoiding future costs of litigation.
If you need advice regarding financial matters upon separation or divorce, please do not hesitate to contact Shelley Chesworth in our Family team on 0161 475 7622.