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Deal with the finances at time of divorce

The importance of ensuring that financial arrangements are dealt with properly at the time of divorce has been highlighted   by the recent case of Wyatt and Vince in the news.

Ms Wyatt won a landmark ruling to proceed with a claim against her ex husband Mr Vince, despite the passage of 25 years since they divorced and 30 years since they separated.

The parties were married for two years.  Mr Vince went on to build up a multi million pound fortune after the divorce was finalised in 1992.

A Judge in The Supreme Court permitted Mrs Wyatt to go to court to attempt to claim £1.9m from her ex husband.  As no proper financial settlement was put in place at the time of divorce, Mr Vince’s assets had ultimately been left at risk – despite the passage of a long period of time.

In general litigation there are imposed time limits which restrict when a claim can be filed, but there is no such time limitation in family law.   Obtaining a consent order in full and final settlement at the time of divorce enables people to protect themselves from a similar situation.

This case clearly illustrates the importance of seeking professional legal advice at the time of divorce and is a strong lesson to everyone that unless financial matters are dealt with correctly at the point of divorce, a settlement claim could be filed at any time.

If you would like to speak to a member of our family team for advice on your financial situation relating to divorce, please call us on 0345 671 0276 to arrange a no obligation initial consultation.