Are you worried about your spouse losing their shirt during Cheltenham Gold Cup week?

28/02/2014

There is no harm in a small flutter on the horses provided the family finances are looking good. However, when money is tight it may be tempting to believe that a win on a horse will relieve your financial worries but there is no such thing as a “sure thing”.  A committed gambler can easily get to the point where they put the family’s home and future security at risk. 

If you are considering separating you may be concerned about the depletion of the family’s assets by your partner, particularly if they are spending money recklessly or gambling.  When the Court considers how the marital assets should be divided the starting point will always be an equal division; however various factors will be taken into account which can shift the division in one or other party’s favour. If one party has a problem with gambling, depending on the severity of the debt and the extent of the depletion of the assets the Court could be persuaded to consider that party’s conduct justifies it in making an unequal division of the marital assets. 

Unfortunately once the asset has been lost it is too late to protect it therefore if everything is going to be put on the 2.30 at Cheltenham you need to consider taking steps before the money is paid to the bookie. We can provide invaluable advice and assistance on the legal steps that you can take to avoid further debts being incurred or at least minimise the damage which may have already been done to the family finances.

We have family departments in our Beaconsfield, Gerrards Cross, Oxford and Cheltenham offices should you wish to discuss the above or require further information.

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