Wills & Trusts Law Reports | Summer 2023 #191Mr Karnail Singh (the testator) died on 21 August 2021. The claimant was his wife. They had been married since 1955 and had seven children (one of whom was deceased). All of the children were adults. The claimant had played a full role in the marriage both as wife and working in the family business without receiving a stake in it or a salary. The claimant was financially dependent on the testator who met all family outgoings. The testator’s estate was estimated to be worth about £1.9m, the entirety of the family wealth having been built up during the marriage.
The claimant was 83 ...
Jessica Smith looks at a case in which the court’s approach to the projected performance of a company was key in determining the outcome The valuation of the husband’s interest in the company was the most contested issue and much turned on whether the valuation should be uplifted in anticipation of potential ‘super-receipts’ by the …
Continue reading "Business assets: What the future holds"
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Katie McCann highlights some of the issues that can arise in high-net-worth financial cases Before deciding on the most appropriate forum for a high-net-worth client, it is best practice to obtain advice from a specialist lawyer in the other potential jurisdictions so as to determine where the client would do ‘best’ in any financial proceedings. …
Continue reading "In practice: Out of the ordinary"
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Paul Linsell looks at how family law has developed and asks whether the introduction of no-fault divorce might prove to be a tipping point for further change When we look back in 30 to 50 years from now, we will look upon DDSA 2020 and the changes it has brought and not just find it …
Continue reading "In practice: A whole new world?"
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Nahanni Simcox considers no-fault divorce and whether the reforms might increase the attractiveness of England and Wales as a divorce jurisdiction It is imperative that parties with cross-jurisdictional assets and interests carefully consider the jurisdiction in which they issue divorce or dissolution proceedings. Following the introduction of ‘no-fault’ divorce on 6 April 2022, it will …
Continue reading "Divorce: Opening the floodgates?"
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Wills & Trusts Law Reports | Spring 2022 #186The claimant and the deceased were married in 2012. In 2014, the deceased petitioned for divorce and also executed a will by which he bequeathed his entire estate to his children, the defendants, leaving express wishes that the claimant should not benefit from his estate. However, he and the claimant were then reconciled and the petition withdrawn. In 2018, the deceased again petitioned for divorce, and in February 2019 he and the claimant separated with the claimant leaving the deceased’s property in Edgar Road, London, but the deceased died on 30 September 2019 before any decree. The f...
Amy Berry provides practical points on seeking to extend time under s4 of the Inheritance (Provision for Family and Dependants) Act 1975 It is of fundamental import to remember that the divorce fiction, to which the pre-acquired/non-matrimonial asset issue relates, is only one aspect of the s3 criteria that the court must weigh when considering …
Continue reading "The 1975 Act: Applying the principles"
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Barbara Reeves reflects White v White, 21 years after this seminal judgment, and the development of the law since Financial outcomes for women on divorce tend to be worse than for men across the board and compensation might have been an ideal way to seek to remedy this position, but unfortunately, so far, it appears …
Continue reading "Financial remedies: A misspent youth?"
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David Wilkinson looks at a decision of Mostyn J as to the approach to short marriages and the assertion that whether a marriage has produced children or not is immaterial as to the division of assets Mostyn J’s judgment is notable for its legal rather than zoological analysis of the ‘white leopard’, representing the rare …
Continue reading "Financial provision: Short but sweet"
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Rebecca Viola summarises the approach taken to trust assets introduced into a marriage and the factors that will be taken into account by the court as to the nature of such assets Property or assets owned by a party which derive from a source outside the marriage will not per se be excluded from the …
Continue reading "Non-matrimonial assets: To mingle or not to mingle?"
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