Verbal Agreement or Mistreatment?
I have heard so many people say that they are not troubled about the financial side of matters when divorcing, as they remain amicable with their ex and have come to a verbal agreement. This gives me the shivers. Although there are many lucky divorcing couples out there who do remain on good terms, I frequently see a breakdown in good relations when a new partner is added to the mix.
Verbally agreeing how to split matrimonial assets, may seem like a great idea at the time, but this is not a means of ensuring all potential financial claims are properly tied off.
You may have read in the news the reported case of a wife successfully bringing a financial claim against her ex-husband, a number of years after they had supposedly reached a verbal agreement. The parties had divorced in 2005 and yet she was still awarded a healthy portion of her ex husband’s assets. Although she did not receive 50%, which is the starting point in matrimonial finances cases, it was still no doubt a significant blow to the ex husband. The wife had essentially received a chunk of money which her ex husband had accumulated due to his own hard work and labours.
Mistreating the significance of ensuring financial matters are properly concluded, by way of a binding legal document, can lead to all sorts of problems, so please do seek advice as to how best to protect yourself not only now, but also in the future.