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A recent landmark decision of the Supreme Court has caused consternation amongst some wealthy people who had thought that the financial implications following their divorce were well behind them. In this case an ex-wife has been able to proceed with a claim against her former husband even though it is more than 20 years since they divorced. At the time of the divorce neither party had any assets and were penniless travellers living a ‘new age lifestyle’ but the former husband has subsequently become extremely wealthy as a founder of energy supplier Ecotricity.
The Court has agreed that the former wife can proceed with a claim seeking a £2 million pay-out from her former husband even though he did not start up the business until 3 years after they were divorced from one another!
This case opens the way for potentially opportunistic claims to be made against wealthy ex-spouses by their former spouse several years after the marriage has broken down.
Here at Terry Jones Solicitors we always advise clients to obtain a clean break order, meaning that neither party can make a claim for future financial provision against the other even if they do not have any assets at the time of the divorce. This then means that if, for example, you win the Lottery in the future, you will not need to worry about a claim by your former spouse against your winnings provided that all claims for financial provision have been formally dismissed within the divorce proceedings.
If you are worried that you do not have a clean break order in place then please contact a member of the Family team here at Terry Jones who will be pleased to advise and assist you.
Need advice? Email us firstname.lastname@example.org