Sorry I have not been blogging recently – I have been engulfed in all things baby!
The credit crunch has worsened many people’s financial situation and the possibility of returning to Court looms large. If you are seeking a variation of maintenance then a change in circumstances may indeed signal an appropriate time to make such an application.
If you are seeking to overturn a capital order then the courts are very reluctant to allow the change in the markets to be regarded as a sufficient intervening event. The certainty of litigation, the fact that assets can increase as well as fall, means that you take your chances. Would Mr Myerson have gone to Court requesting an overturn of his divorce settlement if his assets had doubled in value offering his wife millions more? No… but it still feels like rough justice.
Now may be a good time to get divorced financially if you are the spouse intent on retaining the house and you are the spouse with no bonus etc. Financial worries do put pressure on a marriage… today’s economy needs an inventive approach to the new economic landscape many people are now letting out the former matrimonial home for example.
Lots of people are also postponing their wedding!