maintenance

Supreme Court’s judgment on varying spousal maintenance.

The Supreme Court is expected to shortly deliver its judgment on the matter of Mills. The case relates to the proper approach to a party’s application to vary periodical payments (spousal maintenance) orders made under s.31(7) of the Matrimonial Causes Act 1973, after the grant of a decree of divorce. After the parties’ 2002 divorce, they settled the matrimonial finances …

agreement

Wife fails to increase settlement from pre-nuptial agreement

The Court of Appeal recently returned a decision on a wife’s appeal of a High Court judgment, providing her with in excess of £50m and business interests, following her 20 year marriage to successful businessman, Gerard Versteegh. The husband and wife, both in their 50s, were both born, brought up and educated in Sweden. The parties married in Sweden in …

needs

Guidance on financial needs from The Family Justice Council

The Family Justice Council (FJC) has published its second edition of “Guidance on Financial Needs on Divorce”, described by President James Munby as, “…an invaluable tool for the judiciary in relation to the making of orders to meet financial needs following divorce and the dissolution of civil partnerships.“ The guidance is intended to clarify the meaning of “financial needs” on …

pre-nuptial

Pre-nuptial agreement departed from on grounds of fairness

The High Court recently set out a judgment by Mrs Justice Roberts on the application of a pre-nuptial agreement, departed from by the court on the grounds of a fundamental flaw as to its fairness, when considering the future provision for the wife. some 18 months since financial remedy proceedings were issues, the court heard of the relationship of KA …

jailed

Ex-husband jailed for breaching court orders

John Hart, 83, has been jailed for 14 months for contempt of court in relation to his divorce settlement, having been ordered to hand over £3.5m of assets to his ex-wife, Karen Hart, in addition to his company shares. The shares, which amounted to a “substantial part of the wealth” involved in the June 2015 divorce settlement – were transferred to Mrs …

family home

Selling the family home during court proceedings

Mr Justice Cobb recently reviewed the law surrounding the thorny issue of the sale of the the family home during the course of ongoing financial remedy proceedings. Many separating couples find themselves in a quandary, as they consider the pro’s and con’s of such a sale within the context of such proceedings, as occurred in the case of WS v …

pension

Pension impact on divorce nears £4,000 a year

New research from Prudential shows that divorcees who plan to retire in 2018 can expect their yearly income to drop by £3,800 compared to those who have never divorced, highlighting the impact of marriage breakdown on pension saving. Prudential’s annual study, running over the last eleven years has tracked the finances, future plans and aspirations of those planning to retire …

bitcoin

Bitcoin and other cryptocurrencies complicating financial proceedings

Bitcoin and other cryptocurrencies are being reported as harbouring wealth for the purposes of minimising the matrimonial asset pot between parties in litigation. the courts are under pressure to provide guidance to parties in dispute in order to tackle problems surrounding the increasing number of individuals using digital currencies such as Bitcon, Etherium and Ripple and hiding such wealth on …

costs

Court shines a light on disproportionate divorce costs

Whilst reviewing the latest stage of a matrimonial finance dispute in the Family Division of the High Court, a judge has commented on the “scandalous waste of court time” applied to a case involving divorcing parties, Barbara Cooke and Michael Parker. The pair, operating a luxury bathrobe and towel business, are estimated to have spent some £2,000,000 on legal costs …

cost

Cost of divorce laid bare to separating couples

The start of a new year frequently coincides with parties initiating court proceedings for matters concerning divorce, finances and disputes regarding children. The media widely reports of “Divorce Day“, although such focus is a fallacy – the reality is that no client times divorce proceedings to coincide with an artificial construct such as this. Family law matters are rarely treated …