Division of property

Catherine Taylorof Healys LLP on the breakdown of marriage

As my colleague Naz Ahmed is keeping busy answering questions on buying and selling properties I agreed to step in as author of Healys’ regular column.

My speciality is in Family Law and in particular I am involved in seeking resolution of disputes over the ownership of property and assets and how they should be distributed on the breakdown of marriage or civil partnership. This can often be a contentious and acrimonious issue between the parties.

“There is a means of limiting financial responsibility following a marriage breakdown”

There has been recent comment as to the extent an ex-wife can expect to receive a share of property and assets including any claim over her husband’s business property. It has raised issues as to the extent to which people attempt to hide their property and assets within companies and trusts. In some cases this is a means of limiting financial responsibility following a marriage or relationship breakdown to a wife or partner.

A recent Court of Appeal decision found that an oil baron’s company assets would not be included in the matrimonial pot and that the ex-wife had no claim over them. Some might consider it a good reason not to marry the founder of an energy company!

The decision is disappointing as it seems to go against an established decision following the case of White which provided that wives should expect to receive half the property and assets upon divorce following a long marriage.

It may well be the situation that each case has to be looked at on its own merits. However, uncertainty creates unnecessary expense, particularly when having to investigate and untangle a web of companies and trusts used to shelter a person’s wealth.

It may well be that judges exercise their discretion in these cases but they should ensure that any decision is fair and provides for proper distribution of property and assets. It will be interesting to see how this topic develops.

If you have any issues following the breakdown of your marriage and civil partnership, please feel free to contact me on telephone number 01273-669124 or email me at catherine.taylor@healys.com.
Ask your Conveyancing Solicitor and estate agent for further guidance.
Healys LLP, 8-9 Old Steine, Brighton BN1 1EJ.