The Importance of Dealing with Financial Matters in Divorce
01 December 2016
The risk of ex-spouses making a claim on your assets or income after you have divorced has once again been highlighted in the recent Court of Appeal case between Mr and Mrs Briers, which has been widely reported in national media.
Mrs Briers applied to the Court for a share of her ex-husband’s wealth 10 years after they divorced and was awarded £2.7 million. Mr Briers is appealing this decision. The Judges in the Court of Appeal are yet to make a decision, but the fact remains that after divorce financial claims between spouses remain open unless a Financial Order is made by the Court which provides for a clean break.
What many people do not realise is that this Financial Order is not automatically part of divorce proceedings.
This means that there is a significant risk in getting a divorce without legal advice, or using a service that only provides for what has become known as a “quickie divorce” and does not cover financial matters.
Many people who have divorced without proper legal advice will find that their ex-spouse still has an entitlement to their assets, income and pension many years after they are divorced, and they may not even be aware that is the case.
Applications to the Court to resolve financial claims are complex. A Financial Order needs to be carefully drafted by a specialist Family & Divorce Solicitor to ensure you are properly protected from future claims and you obtain a settlement that is fair.
At Co-op Legal Services our team of specialist Family & Divorce Solicitors can help you with both divorce and financial matters. If you have already got divorced and did not obtain a separate Financial Order we can advise you and ensure that this is rectified.