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Financial Settlement on Divorce - Don't leave loose ends

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11 May 2015

Financial Settlement on Divorce - Don't leave loose ends

Many of you will have been intrigued recently with regards to Kathleen Wyatt seeking a divorce settlement from her ex-husband Dale Vince some 20 years after their divorce. Whichever side of the argument you sit with regards the rights and wrongs of the case, this is a case of not seeing things through and of leaving loose ends. All clients should receive advice about tying up loose ends in divorce cases and dealing with financial issues to their conclusion. Some clients find it financially difficult to pursue claims or to instruct Solicitors to prepare Clean Break settlements to prevent claims in the future, however, this case provides a classic example of what can go wrong if a full and final settlement is not achieved.

In many ways a full and final settlement can be seen as an insurance policy for the future, and on a fixed fee basis it is fairly inexpensive to bring finality and to ensure against any future claims; at which time you may find yourself in a completely different financial position to that when you were divorced. In this particular case the husband had become a millionaire businessman years after the couple parted.

Our advice to clients is clear: never leave these things to chance and tie up all of the loose ends.  Planning for the future is very important and when you instruct us to deal with your divorce we will assist you with all your future planning including advice on whether or not you should consider a Power of Attorney, make a Will and other related issues.  In offering the complete package we can insure you against the future so that you can be safe in the knowledge that you are protected against any future claims, problems or difficulties.

Delia, along with the rest of the Family Law Team has a wealth of experience dealing with all manner of Family issues.  No matter how complex, if you need assistance get in touch today.

 

Delia Crofts-Turnbull