Married couples in England and Wales have financial claims against each other in respect of income, capital and pension.

These financial claims do not automatically come to an end once the Decree Absolute has been granted and once the divorce is complete. As such these financial claims stay live unless a financial order formally dismissing them has been approved by the Court (or unless the party remarries). This may mean that one party can make a financial claim against the other some years after the divorce has finalised.

Whilst at the point of separation there may not be considerable assets between the parties, one party could, for example, go on to build up a successful business or even win the lottery. Without having had a financial order that dismissed their financial claims the other party may be successful in making a claim against their newly accumulated assets.

As such, at George Green LLP, our specialist Family Lawyers always advise clients of the risks involved in not having a financial order in place which reflects the agreement that the parties have reached and which deals with the dismissal of financial claims.

If you would like further advice in respect of the financial aspects that arise upon the breakdown of a marriage then please contact Mark Vandaele, the Head of Family Law on 01902 796930. Our offices are based in Wolverhampton and Cradley Heath and we serve clients across the Black Country and West Midlands area including but not limited to Penkridge, Wolverhampton and Stourbridge.

We are currently offering remote appointments due to the COVID19 outbreak