In a nutshell, it provides peace of mind and an ongoing insurance against any future claims on your assets for both of you. It also makes any financial agreement you have reached legally binding, so you both have to do what you have agreed and it makes your agreement irrevocable, so neither of you can change your mind in future.
But by not having a consent order in place when they divorced, it left the option open for Wendy to make the claim for £8 million of his winnings.īut a clean-break consent order does not just protect you if you win the lottery. It is understood that Mr Page initially offered £1 million which was declined. Mr Page also agreed to pay £2,000 per month in child maintenance. In the end they reached an out-of-court settlement for £2 million. This was declined and, as they had no financial consent order, his former wife, Wendy, applied to the court for £8 million. He offered to put aside £2 million into a trust fund for her. Mr Page had a 13-year old daughter with his ex-wife and was paying child maintenance for her. He immediately married his new partner and the couple donated to local charities and they even gave their former home to their cleaner. Some ten years later, Nigel won £54 million on a Euro millions lucky dip. Nigel Page and his ex-wife divorced and both moved on with their lives. The Ultimate Guide to a Financial SettlementĬase Study 1 – The Euro Millions Lottery Winner.The Ultimate Guide to Financial Disclosure.
The Ultimate Guide to a Financial Consent Order.The Ultimate Guide to Child Arrangements.The Ultimate Guide to Completing a C100 Form.