Divorce – the real costs of cutting corners…

Divorce – the real costs of cutting corners…

Wyatt and Vince             

The Supreme Court has determined today that 23 years after their divorce was finalised by the decree Absolute, that Ms Wyatt should have her claim for a share of her ex-husband’s wealth reassessed.

In brief, the parties had met as penniless students and married in 1981, living a bohemian lifestyle for a number of years, before separating by agreement and finally divorcing in 1992.

After the divorce Mr Vince began his own business pioneering the development of wind turbines, and as a result of his ingenuity became a very wealthy man. Having not resolved the financial issues at the time of the separation, Mr Vince now faces the High Court revisiting what should be recognised as an appropriate financial settlement in favour of Ms Wyatt.

There will be polarised views on the rights / wrongs in the decision of the Supreme Court.

What it will certainly do is give sleepless nights to those who have separated in the past, and either didn’t obtain an Order from the Court dismissing future claims and who are now enjoying the fruits of their hard work and endeavour, wondering whether they too will face an unwelcome reminder of the past, and potentially give those who find themselves on hard times, a possible claim against their former spouse.

This decision will also reiterate to all separating couples that whilst they may not have many assets to share now, and may be tempted to try to save money in the short term, that the consequences of not dealing with financial matters properly, can be very expensive.

If you are concerned about a potential claim that might be made against you, or you think you might have a claim to  pursue, or are in the process of separating at the moment, contact the Family Team to arrange an appointment to discuss on 01743 248545.