Thousands of people are unaware that although they have been divorced for years their ex may still claim a share of their assets. If you have not had professional legal advice and did not properly formalise a financial agreement, the door may still be open for them to claim a share of your assets.
In a Supreme Court judgment last year, it was confirmed that there was no time limit on an ex-spouse making a financial claim. In that case, the couple had been divorced for 18 years. At the time neither of them had any assets, but over a decade after they separated his green energy business took off. Decades after they separated, he was a multi-millionaire and his ex-wife had made a claim.
You may not be expecting to become a hugely successful entrepreneur or a lottery winner, but the future is always uncertain. You may have an amicable relationship with your ex-spouse and be confident that they have no intention of making a claim now, but circumstances change. If you came into a lot of money, if they fell on hard times, or if you fell out over arrangements for the children, you may find a court application coming through your letterbox.
The only way to be certain that your ex-spouse will not make a claim in the future is to formalise your agreement in a document called a consent order. Only through a order can you achieve a true financial ‘clean break’ so that you can move on with your life without looking over your shoulder.
Jordans, specialise in family law. Our team of experienced family solicitors can give you the peace of mind by preparing a professional, binding agreement on your behalf. We pride ourselves on being approachable so you won’t get bogged down in legal technicalities. Our expertise comes at competitive rates, including fixed fees so you can be certain of the bill before you use us. Pick up the phone and call us on 01924 387110 to discuss how we can help you.