Many separated couples don’t realise that getting divorced does not draw a line under future financial claims.
A divorce legally ends a marriage, but it does not end your financial commitments to each other even after decree absolute has been granted.
Some couples reach agreement between themselves about what should happen regarding property and finances, however, if that agreement is not formalised this does leave the door open to future financial claims as circumstances change.
There is no time limit for making a claim, so it could be many years later that an ex reflects on the financial settlement that was agreed and feels that they were short-changed.
Equally, some people see their ex go on to be successful and accumulate greater wealth following the divorce, leading to them believing that they should have received a larger share in their settlement.
If you want absolute certainty, it is advisable to formalise financial arrangements, ideally at the time of your divorce by way of a Consent Order, which is usually obtained before you apply for decree absolute.
Even if you have already divorced, it is still possible to put your financial affairs on a formal footing with your ex, save in limited circumstances.
You will need to apply to the courts to get a financial order. The courts will consider whether the order is fair for both parties. If you and your ex can reach an amicable agreement on finances, you won’t need to physically go to court.
If you are worried about your ex making future financial claims against you, speak to an expert family solicitor who will be able to advise you on the best way forward.