Don’t Delay in Sorting Out Your Finances

By March 14, 2017June 13th, 2018Family Law

There have been two recent cases,Wyatt v Vince [2015] and Briers v Briers [2017], where the courts have had to consider financial claims long after the former spouses divorced.

In the most recent case of Briers, the parties married in 1984, separated in 2002 and were divorced in 2005.

Finances weren’t dealt with at that stage, and in 2013 – some 11 years after separation – the wife issued an application for a Financial Remedy Order.
The Court dealing with the case found that the wife was entitled to financial relief, but discounted her award to take into account the delay in bringing her application.

There are two things to learn here:

  1. If you don’t finalise your financial affairs as soon as possible after your divorce, you could end up living with many years of uncertainty, and then face a financial application long after you thought everything was “done and dusted”.
  2. Secondly, if you decide to put your finances “on hold” – beware – you could be penalised for doing so.

It’s not always easy getting your finances sorted following on from a separation or divorce. If you need help, contact Jill Cameron, at our Catterick office, for expert legal advice to make sure you don’t fall into either of the traps outlined above.