Lottery Winnings - What happens when you divorce
We all dream of winning the Lottery, butr would that dream turn
into a nightmare if you then got divorced? Would your spouse be
entitled to a share of your winnings?
The High Court recently had to consider this question when a man
brought financial proceedings against his former wife.
The wife and her friend played the Lottery as a syndicate and
had signed a syndicate agreement. They were lucky and won £500,000
each. The wife used £390,000 to buy a family home, the deed for
which was in her sole name.
The husband lived there for just four years before they
separated. What the Court had to decide was, should he receive
anything from his wife's winnings?
The real question the Court had to answer was to what extent the
winnings could be considered matrimonial property. The wife was
said to have converted her prize into matrimonial property when she
bought the house. However, it was her prize and her husband had
lived there only for a short period. He was entitled to something,
but not a half share.
The Court awarded the husband £85,000.
if you are divorcing and have money or property which has not
been created by the endeavours of you and your spouse during your
marriage, your spouse may not necessarily be entitled to a half
share, or even to anything at all.
How the matter is decided will depend on your circumstances.
Property you bring with you to the marriage, as well as gifts or
inheritances received, are all considered in this way.
If you would like to talk to a family lawyer specialising in
financial matters, Switalskis Family Law team can help. Call us on
0800 422 0243, or complete our Contact Form and we will call