Category

financial

Equity vs equality – the sharing principle and fairness in short marriages

By | divorce, financial, News, the family courts | No Comments

This week we thought we’d look at the application of the ‘sharing principle’ following an interesting development in the law in the reported decision of Mr and Mrs Sharp. The case involves a couple in their mid-40s, worth around £6.9M. They did not have any children. The wealth was largely generated through substantial bonuses paid to the wife during the marriage. At the outset of their relationship the couple earned relatively similar amounts (c.£100k p.a.) and later, the wife received bonuses totalling c.£10.5M over the course of their 6 year marriage (including 18 months of pre-marital cohabitation). As is commonly…

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My spouse owns a business – what is it worth?

By | collaborative law, financial | No Comments

When looking at an overall division of finances on divorce, the first step is to understand what resources there are. One of the issues faced by separating couples is how and when a business owned by either of them comes into play.  We at CFLP are experts in assessing the importance of business interests on divorce. Working out how much a business is worth, if it is worth anything at all, can be especially challenging for those who are not involved in running the business. First and foremost, it is crucial to understand the nature of the business. Is it:…

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Maintenance matters

By | financial, Law news | No Comments

This week, we thought we’d focus on a difference of opinion on a matter of family law that has come to light between a couple of our elder statespeople in family law. On one side, we have Baroness Deech, a former barrister and crossbench peer in the House of Lords who led the second reading of her new Divorce (Financial Provision) Bill at the end of January this year, and on the other we have Lord Wilson of Culworth, a Justice of the Supreme Court and author of some of the most notable legal decisions in family law over the…

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Unfair prenups, creative solutions

By | Children, divorce, financial, Law news, News | No Comments

This week we’ve seen an interesting and complex case in our High Court where a judge has had to find a creative solution to rehousing appropriately two young children and their mother, in the face of factors prohibiting what the court would see as the usual fair division of assets on divorce. The case involves a Swedish couple, worth about £11m. The wealth is largely on the husband’s side: he was formerly a sportsman, the judgment tells us, before an accident in 2003 sadly ended his career. His substantial income now comes from active management of the money made before his…

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