Can you cash in a 20 year old lottery ticket?
Apr 29, 2015
I’m sure you must have heard by now about the Dale Vine and Kathleen Wyatt divorce case. Dale Vince, a multi-millionaire, had stated that when his wife had asked for a financial settlement of £1.9 million, it was like “cashing in a very old lottery ticket”.
The couple had seperated 32 years ago and had initially reached a settlement 20 years ago. But unfortunately for Mr. Vince, he cannot prove that a settlement was ever made 20 years ago because it was so back in the past that even the court doesnt have the records of it (you should always keeps your records guys).
Mr. Vince, who is from Gloucestshire, has had to fork up money over the nearly 3 decades long divorce battle which has cost him half a million pounds!
And when his ex-wife had won the financial settlement in a Supreme Court bid, it’s going to cost him another £1.9 million.
How can she make such a huge claim for financial settlement? What does Dale do?
Well after the couple split in 1995, he had set up his own company called Ecotricity which is a company that focuses on green energy. That company is now worth an estimated £107 million.
The lesson here is that it’s never too late to claim your financial settlement and it is important to discharge claims properly at the time of your divorce. Read the full story here.
Meet The Author
The Divorce IFA is Phil O'Connor, a Resolution Accredited Independent Financial Adviser helping clients make better, more informed financial decisions on divorce.