Member Article

Heed Tycoon's Divorce Lesson Says Taylor&Emmet

This week’s landmark decision in the Dale Vince divorce case serves as a warning to local couples about the importance of seeking a clean break order, claims Taylor&Emmet LLP.

Head of family law, Michaela Heathcote, said: “Clients believe being divorced in itself ends the risk of their ex-partner pursuing a financial claim. This is not the case.

“Dale Vince and Kathleen Wyatt’s court battle may be an extreme example, but it demonstrates clearly how investing a little extra in a clean break order can be money well spent. None of us knows what is around the corner and it could save the significant expense of a claim being made years later.”

The Supreme Court ruled on Wednesday that Ms Wyatt can pursue renewable energy millionaire, Mr Vince, for a financial settlement, despite their 11 year marriage ending in 1992 and his wealth being accumulated after their separation.

Michaela continued: “No doubt the delay in bringing a claim and the circumstances surrounding this case will be taken into account when deciding if Ms Wyatt should receive an award. But the significance of this week’s decision is that the court agreed she is at least entitled to pursue a claim.

“I often see clients who say they do not want or need a clean break order because they have no assets or they trust the other will not make a claim. The reality is, no one knows when their circumstances will change and a former partner may decide they want a share of a future lottery win or other good fortune, regardless of when it occurred.”

For a small additional cost, divorcing couples can obtain an order from the court confirming an overall financial settlement or clean break has been achieved and that neither partner can make further claims against the other. It is common in most cases involving the division of assets, but is sometimes disregarded by those with no significant savings or possessions.

For further information about Taylor&Emmet’s family law advice, contact (0114) 218 4000, visit www.tayloremmet.co.uk of follow the firm on Twitter @tayloremmet.

Issued: 13.03.2015

For further information please contact Nina Sorby at CORNER PR

Tel: 01246 433 451 Email: nina@corner-pr.co.uk Web: www.corner-pr.co.uk

This was posted in Bdaily's Members' News section by Nina Sorby .