Financial Claims: The Protection of a Financial Order

November 30, 2015 1:42 pm

The Supreme Court have reaffirmed the current legal position relating to financial claims against an ex partner.

Unless there is a Financial Order bringing all claims to an end, in theory, a person could make a claim in respect of their ex partners wealth. This is the situation even if the wealth was accrued some years later, after the divorce is finalised.

Lawyers have always been aware that this was the case, but many members of the public were not aware that this was the situation until the recent highly publicised case of Vince v Wyatt.

In the case of Vince v Wyatt, the parties led a frugal new age traveller lifestyle and at the time of the divorce they didn’t seen the protection of a clean break order. This meant that any claims for capital, pensions or income were still open.

In the years following separation, the Husband in this case built up a multi million pound ‘green’ energy business and was remarried with a child at the time of the application brought by the Wife. The Wife’s financial claim against the Husband was allowed to proceed, despite his fortune having been accrued post divorce and the parties having been separated for over 20 years. The court made clear that the Wife’s Application would have hurdles to overcome, but nevertheless her case was to be heard by the court and her claim assessed.

This case highlights the importance of obtaining a financial order within divorce proceedings, even where there are little or no assets. This will mean peace of mind and reassurance that no matter what the future holds, your ex partner cannot make a claim against you for any future asset accrued such as a business, pension, inheritance or another home.

Its not too late…

Even if you were divorced some years ago, providing that a financial order hasn’t already been made, you can apply to the court for an order to protect your assets or ensure that any future assets are protected.

We at Barnes Family Law offer a free initial consultation. Call us on 01274 861096 or email us to enquire about your free consultation.