Terry & Co Home

Welcome! Log In Create A New Profile

Advanced

Financial settlement 10 years later

Posted by JB 
JB
Financial settlement 10 years later
May 24, 2021 05:04PM
So my ex and I divorced 12 years ago. We never did the financial settlement, probably due to too much guilt on my part. I'm now with someone else and we are seriously looking at the future, buying a house and getting married. I don't want to have my ex coming out of the woodwork latter and chasing anything we build together or my pension so need to do something. My ex had just bought a house before we got together and I was not on the mortgage. I did get left a sum from when my grandfather died (7k) and this was put in a joint account and is still sat there. There were other savings accounts but I was the one who walked out and I wanted her to have money to raise our son who is now 17.
Essentially what I'd like is to say I'd like the 7k and don't care about any stake in the house or anything else and to severe financial ties completely meaning I can't chase anything later and she can't chase anything including my pension etc so there is a final line drawn. She is not amicable in any way to talking and everything becomes an argument about the past.
I'd like some advice on if A-can I get what I think as in no access to my pension etc, and B what would I need to do, C-whats the best way to go about this, and D what could she do to stop this. I'd see a solicitor and pay for it drawing up if it can be done. Any help would be greatly appreciated.
Re: Financial settlement 10 years later
May 24, 2021 07:17PM
Well, first I should tell you that if you were not the spouse that issued the divorce petition (ie your ex wife issued it) then once you remarry you will lose all right to ask the court to deal with the financial issues arising from the marriage. However, if your wife issued the petition (and assuming it was properly worded) she would retain the right to pursue you for, say, a pension share even after she remarried. This is because (probably) she commenced the claim with the divorce petition - ie before remarriage.

Second, I suggest you look at this page to understand just how long financial claims can last if they are not dealt with once for all.

[terry.uk]

Having said that, you still need to consider the situation carefully before making a formal claim. After all, your ex has done nothing in the last ten years. Making a formal claim could well stir up a hornets' nest. Whether it is worth doing that very much depends on the figures and an assessment of the risks.

As to your specific questions:-

A. That rather depends upon factors such as the length of the marriage, the value of your respective pensions and how much of that value was built up while you were together.
B. IF you decided to go ahead with this (and bear in mind the note of caution above) the first step would be to get a solicitor to write to your ex asking whether she would consent to an order in X, Y and Z terms to deal with the issues arising from the marriage once for all. If doing it voluntarily doesn't work you would need to make a court application (which will, incidentally, incur costs which will very likely exceed the value of the savings).
C. Trying the voluntary route first and you have a better chance of getting that to work if she can see she is getting something out of it.
D. If you end up having to make a court application there is nothing she can do to stop it.
Sorry, only registered users may post in this forum.

Click here to login