27 Jul 2020
As we embark upon a gradual exit following lockdown, many are looking about their lives and activities with caution. For some, that may mean considering divorce. Partner Nicola Wilburn-Shaw has some advice.Read more
We are often sought out by the national media to provide expert commentary on the subject of divorce: today it was on the topic of the McPartlin financial settlement. Partner Fiona Wood explains:
"The most striking element of this story is the alleged agreement that Mr McPartlin will give ex-wife Lisa Armstrong £31 million in their divorce settlement, out of a pot that is reportedly thought to be £50 million
• The starting point in any financial settlement in divorce is a 50/50 division of the assets. However the judge must then consider if there are reasons to depart from equality.
• Reasons for departing from equality would be that one spouse brought significant assets into the marriage and/or acquired significant assets after separation. Ms Armstrong’s financial claims are therefore likely to be limited to the money amassed during the marriage, which includes any period that the couple cohabited prior to their marriage. Therefore if there is any deviation away from equality, it is more likely to be in Mr McPartlin’s favour than Ms Armstrong’s.
• The settlement will need to meet the couple’s needs, but in big money cases, where there are significant assets, this will not usually be a problem.
• The law does not favour the spouse who generated capital during a marriage when looking at how the assets should be divided.
• It is one of the myths around divorce that if one spouse has committed adultery, that spouse should be treated more harshly. The reasons for the breakdown of the marriage rarely have any impact on the financial settlement. The court will look at fairness and need.
• If, as is reported, the couple shared custody of their dog during their two years’ separation, then it is likely the judge will therefore be happy for that situation to continue."
You can read the story in full here
7 Jun 2020
The new "no-fault" legislation aims to overhaul divorce law and reduce family conflict, and comes following overwhelming pressure from senior judges, lawyers, politicians and members of the public amid calls for reform. Parallel changes would be made to the law governing the dissolution of a civil partnership. Managing Partner Amanda McAlister explains.Read more
5 Jun 2020
There is a lot of speculation in the media at present about the impact that lockdown is having on our economy. For those divorcing, the potential impact on the housing market is particularly difficult, given that the main asset owned by most couples is their house. Partner Fiona Wood examines the issues.Read more
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