Rebecca Stone reviews the case law relating to family businesses and the differing approaches taken by the courts to such assets ‘In F v F (clean break: balance of fairness) [2003] the judge accepted that where some of the assets are illiquid it may not be possible to achieve either the aim of equality or …
Continue reading "Family Businesses: The golden goose"
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Camilla Thornton outlines the courts’ approach to income such as bonuses and how this may be reflected in an order for periodical payments ‘The inherent uncertainty of bonus payments provides, in part, the reason why the setting of a cap is essential in order to avoid the unintentional unfairness which may arise as a consequence …
Continue reading "Financial Provision: Future proofing"
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In the first of a two-part analysis Sonny Patel looks at the approach to the quantum of spousal maintenance ‘The choices made by the parties as to the care of their children are an important factor in determining how that care should be provided and shared both by reference to day-to-day care and the funding …
Continue reading "Spousal Maintenance: Calculating need"
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Jane Booth analyses the factors the courts will take into account when considering non-matrimonial assets ‘When considering the division of assets, where the assets are neither matrimonial assets nor jointly generated by the parties, the duration of the marriage might be a significant factor in the determination of the distribution.’ The decision in G v …
Continue reading "Non-Matrimonial Assets: A question of inclusion"
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Sonny Patel sets out the courts’ approach to inherited assets and steps that can be taken to protect the interests of parties ‘The duration of the marriage, and the duration of the time the wealth had been enjoyed by the parties, will be relevant, so too their standard of living and the extent to which …
Continue reading "Inherited Assets: Defining assets"
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Wills & Trusts Law Reports | September 2013 #132Michael Prest (husband) and Yasmin Prest (wife) were married for 15 years and had four children before the wife petitioned for divorce in March 2008. During the marriage the matrimonial home was in England, though for most of the time the husband was found to be resident in Monaco and there was also a second home in Nevis. Petrodel Resources Ltd (PRL), which was incorporated in the Isle of Man, was the legal owner of the matrimonial home and five other residential properties in the United Kingdom. PRL was part of a group of companies, one of which was the legal owner of two more resident...
Prest shows that family judges must uphold company law when considering what constitutes the matrimonial pot, as James Copson discusses Where Family Division judges have fallen into error time and again has been their reliance on what Cumming-Bruce LJ referred to as ‘abundant authority’ in Nicholas that the veil can be lifted if there are …
Continue reading "Trusts And Divorce: Piercing the corporate veil"
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Eleanor Aguirre considers how needs will impact on inherited assets The former matrimonial home, even if brought into the marriage by one party, usually has a central place and should normally be treated as matrimonial property. The recent High Court judgment in Y v Y [2012] provides a useful reminder of the approach the courts …
Continue reading "Inherited Assets: Balancing point"
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Sam Hall sets out potential pitfalls and safeguards on how best to protect a personal injury award in divorce proceedings The children and the wife’s needs had priority and thus required a substantial share of the family assets, which included, but were not limited to, the husband’s pre-marital personal injury award. Whenever a client asks …
Continue reading "Personal Injury Awards: Competing interests"
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Tracey Dargan and Nathaniel Groarke summarise the courts’ approach to pre-acquired and inherited assets In N v F, Mostyn J stated that he would have excluded more of the husband’s pre-marital assets were it not for the fact that such assets were required to meet the wife’s needs. A number of recent reported cases have …
Continue reading "Financial Provision: Building fences"
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