is this right?

Hi Guys,

I divorced (finally) about a year ago. My ex spouse and

I had a business in both our names that failed about one year before we seperated. We had no children together but I raised my 3 steo children as my own. She had an affair and we parted. I moved out of the area and left 90% of the assets we had to her, although these in truth were relatively small. After a period of time and with the help of a new partner I have now started to make quite a succesful new business, my ex has heard about this and has come forward and asked for 25,000 as her settlement. Is this possible as she left me, she is remarried and has a baby with her new partner? she claims that she helped me establish the old business 9not entirely true) and though it failed as I am doing similar work she says she is entitled to money.... I am gobsmacked over this and feel that this is totally unjust. The 3 step children, 2 are of working adult age and the youngest is supported by her natural father, so how far does my obligation to my ex go?

Would really appreciate any input..thanks

Andy

If you have a Decree Absolute then she can have no claim on any assets acquired subsequently.
See a solicitor and get them to send her a letter

Unfortunately it's not that simple. In the Matrimonial Causes Act 1973 there are rules that say (i) that no financial provision may be made after divorce and (ii) you cannot make an application for a financial/property settlement after you have remarried, but the court may still grant leave to apply. Also any settlement has to reflect the needs of dependent 'children of the family' under 18, including step-children..

However, case law Rossi v Rossi determines that assets acquired or created by one party after (or during a period of) separation might qualify as non-matrimonial property if it could be said that the property in question was acquired or created by a party by virtue of his personal industry and not by use of an asset created during the marriage.

What trade/business is it related to? Is there any element of intellectual property involved where the ex-wife could claim copyright, ownership of designs ( protect the visual appearance or eye appeal of products), patents or trade marks ?

Did you get a business financial expert to value the business and its prospective future development/profits in agreeing the settlement with your ex-wife ?

If so, did she agree their projection or get a counter expert to dispute ?

Businesses, as are assets in general, are normally valued as of the date of trial. If the business in your case is your own personal services, then it could have been valued earlier as of separation date; after that, the efforts of you-spouse were separate property.

A 'Clean Break order' would have tied up loose ends and ended, once and for all, the financial claims the ex-spouse may have against you. Once such an order is made the court will dismiss all financial claims that the ex-spouse may have for ever even after you die! However the clean break only operates between you and her. It is not possible for you to settle all claims for the future financial provision of children in this way.

I am not an expert and found this info googling so would recommend that you clearly need legal advice as Fiona's comments/knowledge appear to open up avenues of concern.

Worst case scenario, would recommend that any further settlement must be done as a clean break (business-wise) else she could come back periodically for more and more.

Thank you for your comments, just a little more information then:

I have worked in property before I met my ex. We set up a company involved in sourcing investment property, this business failed about a year before our seperation. I tried working as an independent property consultant and after our break I moved 130 miles to rehouse and get sorted out.

I then went into business with a client of mine who started a limited company, I was an employee, this was not my business. This business stuggled and this guy decided to call it a day. Myself and my new 'partner' would be spouse (ouch!) found a new niche market that I had not done before.

By this time my ex had moved in with her now husband,(moved in 2 months after our speration) she had 90% of the assets, we have no kids together and 2 of my step kids had reached end of education and were supporting themselves (I did support them as much as I could)

Although my business now is similar to that of before it in no way has anyhthing to do wuith any input from my ex. In fact I am still repaying debts from the previous business myself without recourse to my ex wife. I do not own any property and have only a few meaningful assests. My income is good aprox 4000 per month.

This has come about as a 'close the door after bolted horse' scenario

Thank you

Andy