It has recently been reported across the media a case which most people may find astonishing to read and accept: http://m.bbc.co.uk/news/uk-england-gloucestershire-31832392
This is a case where an ex-wife could look to receive a financial pay out after she has been divorced from her ex-husband for 20 years. Her ex-husband is currently worth £107 million due to setting up a company called Ecotricity.
A lot of people may be shocked to learn that the ex-wife can have the opportunity to claim against her ex-husband’s wealth when they have been divorced for 20 years. This will be down to the fact that they would not have entered in to a legally binding order preventing either of them from seeking any financial claims from the other in the future at the time they filed for the divorce.
This order is known in legal terms as a “consent order” which deals with the terms of any financial settlement including, property, pensions, income and any other capital assets. The most important clause in such an order however is the “clean break” clause. These clauses ensure that neither party can make any future claims both in life and on death against the other’s finances.
If you require further advice in relation to divorce, finances and consent orders then please contact the office and ask to book an appointment with our Family Law team on 01606 48777.