Can your ex come back to haunt you? Yes, they can!
In my article back in March2015 I posed the question 'can your ex back to haunt you?' theanswer to that question is yes they can. In my article Idiscussed how a wife (Kathleen Wyatt) whose marriage had brokendown more than 30 years ago had won the right to seek a lump sumfrom her ex-husband (Dale Vince) who became a millionaire more thana decade after they separated.
Following the Supreme Court'sdecision in March 2015 Mrs Wyatt's financial application was listedfor a Financial Dispute Resolution Appointment (FDR) which tookplace in October 2015 however no settlement was reached. Anagreement has, however, now been reached between the parties somemonths later.
Mrs Wyatt will receive a lumpsum of £300,000 from Mr Vince in full and final settlement of herfinancial claim. How much Mrs Wyatt will actually receive isuncertain due to outstanding legal bills which have yet to bequantified.
The couple's divorce wasfinalised in 1992 and even though Mr Vince claimed a financialorder was made, there was no evidence of this. In the late1990's Mr Vince went on to become a green energy tycoon afterlaunching a company called Ecotricity, which is now a multi-millionpound company. Mr Vince argued that his ex spouse had lodgedher claim for financial provision in 2011 too late, but fiveSupreme Court justices unanimously ruled that her case shouldproceed.
Approving the terms of thesettlement, High Court Family Judge Mr. Justice Cobb, sitting inLondon, said: "I am perfectly satisfied that it is reasonable,and that the wife is entitled to receive a modest capital awardfollowing the breakdown of this marriage; the lump sum paymentagreed between the parties fairly represents, in my view, arealistic and balanced appraisal of the unusual circumstances ofthis case having particular regard to the factors set out insection 25(1) and (2) of the Matrimonial Causes Act1973."
We would suggest any divorceeswho don't have financial court orders in place review theirsituation and seek legal advice to protect any wealth acquiredafter their divorce. If you want a clean break with no comebacks, you need to act prudently at the time of the divorce andobtain a Court Order otherwise your ex spouse could come back tohaunt you many years down the line.
For advice on all financialmatters arising in divorce/separation please contact a member ofour Family Team on01482 337361.
This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.