Recent Ruling upholds divorce court order providing that husband gives his ex-wife 40% of his shares on divorce.
In the recent case of B v B, a husband lost his appeal and is forced to transfer 40% of his shares to his ex-wife, in accordance with the terms of the divorce settlement.
In the original divorce settlement the man’s ex-wife was to receive 40% of her husband’s shares, the value of which was to be given to her by way of lump sum payments once the shares had matured.
The husband took issue with the terms of the order and instead he sought to pay her just a single lump sum of £25, 000 for the shares, with the payment being financed from the sale of the former matrimonial home, and an additional £175, 000 in relation to other share holdings. These holdings, along with the shares, would remain in the husband’s name. However, his wife took particular issue with his argument, stating that she would likely achieve a greater value when the shares matured.
The couple in question married 17 years ago, they separated in April 2012 and share three children, all of whom live with the wife, who is a “homemaker” and the shares which were held in dispute, were acquired by the husband via his employer after the parties separated.
Mr Justice Bodey who heard the appeal emphasised the importance of fairness in such cases stating that the value of the wife’s role in the whole marital partnership must be considered and reflected in the judgment, and that this should not prohibit assets being excluded from sharing because they were acquired following the date of separation.
I hear what you are saying and I sympathise; the above does not bear thinking about does it? However in many cases and with strategic planning at the outset of a divorce, many husbands achieve a fair divorce settlement outside of Court, with limited legal costs.
By planning ahead with strategic divorce lawyers and reaching an out of Court settlement with your soon to be ex-spouse, you are likely to retain a greater share of the matrimonial “pot” and will not run the risk of having to hand over assets you have acquired post separation and entirely by your own hard graft. However you need to take action and formalise your game plan without delay. If you don’t, then you are likely fall victim to the harsh reality of losing a lot more of your empire than you could have otherwise avoided.
Here at Pinder Reaux & Associates we have a team of strategic divorce lawyers who are experts in advising clients on all financial matters upon divorce. Please call us on 0208 252 7373 and one of our family lawyers will gladly discuss your matter and your objectives in further detail with you.
Senior Associate Solicitor