How are debts owed to family members dealt with in divorce proceedings?
The first question for the court to determine is whether the debts are legitimate, and this is a...
A successful business man has settled his ex-wife’s financial claims by agreeing to pay her £300,000 despite her not making a claim for over 20 years following their Divorce. (Read more here)
Whilst the pay-out has been classed as “modest” by the High Court Judge who approved the payment, it does highlight the importance of obtaining a Final Order when going through a Divorce.
At the time of their Divorce there were no assets. The Husband built up a significant fortune following the marriage.
Nonetheless the fact he did not obtain a Final Order at the time of the Divorce left the door open for the ex-wife to launch a claim for financial provision many years later.
The Family Law experts at George Green advise clients on all aspects of relationship breakdown and specialise in drafting Final Orders.
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