In this day and age everyone is keen to avoid unnecessary spending, and divorcing couples are no exception. There are hundreds of websites devoted to advising people whose marriage has ended on how to get a divorce. But what is often not mentioned is the importance of getting a court order which means that any agreement you have reached with your former spouse about money is final and binding.
When budgets are tight and people are struggling to stretch available funds to provide for two homes where before there was one, preventing future claims can be the last thing on someone's mind. Circumstances can change, however - sometimes in very surprising ways - and someone who thought their divorce was behind them could find that their ex-spouse has a legitimate claim against newly acquired wealth.
The classic windfall scenario is a lottery win and the story of Mr Nigel Page highlights what can happen in such cases. In February 2010 Mr Page scooped the UK's third largest lottery win of £56 million. Mr Page then married his partner and they moved to a £4 million dream home in the Cotswolds. Mr Page had been married before, and he offered £1 million from his winnings to his ex wife, Wendy. However, Wendy brought a claim against Mr Page's winnings even though their marriage had failed in 2001 and succeeded in obtaining an out of court settlement of £2 million plus and, it is understood, greatly increased child maintenance payments. If at the time of the divorce Mr Page had obtained a court order making a "clean break" from Wendy, she could not have brought her claim.
More common than a lottery win is inheriting money - something which is happening increasingly often in these days of widespread property ownership. Again, if there is no court order to prevent future claims, an ex spouse can ask for a share.
What this means is that an order preventing future financial claims is a must for all divorcing couples, no matter what their financial status may be now. In simple cases, such orders can be prepared at moderate cost by specialist family solicitors. This can give much needed peace of mind about the future at a time of stress and is an investment worth making.
Jackie Blackman
Family Law Team, Charlesworth Nicholl & Co
Contact Jackie on 01363 774706 or e-mail jb@charlesworthnicholl.co.uk