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Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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My sister is getting a divorce. Her estranged husband has

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My sister is getting a divorce. Her estranged husband has suddenly said that he has been made redundant. He is getting 12 months pay and bonus. This equates to around £0.5M of earnings (he is MD of a leasing company). He has advised that the company may take him on again in approximately 12 months time.My sister is concerned that he has persuaded his company to deliberately make him redundant so conveniently he will ultimately somehow pay less in a divorce settlement that is likely to take place over the next year. He also collects classic cars. He has a number of Ferraris. He has also advised that a Ferrari Daytona has dropped in value by £200K. In respect of the first issue - does this change anything? What could he be up? In respect of the second - how would this be verified.My sister is in her early 50s. He was unfaithful to her. They have been married for 20 years in which time she has not worked. This is because he did not want her to and bring up their two children. My sister feels that she is entitled to half of their assets as she orchestrated a few property developments which made money; plus looked after the children while he pursued his career. She also feels that she is entitled to half of his pension payments. The total assets are around £6M. The pension pot is around £1M. Is she right?
Hi, thank yoi for yoir question. Yes, she is roght that as part of the divorce the court will consider all of their assets and the court's starting point is a 50-50 split of all matrimonial assets. Given the long marriage this will include everything, except inheritance initially. Thr court will consider the following criteria when reaching a decision regarding the finances:1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;3. The standard of living enjoyed by the family before the breakdown of the marriage;4. The age of each party to the marriage and the duration of the marriage;5. Any physical or mental disability of either of the parties to the marriage;6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring. In relation to his job and income, the court can assess the reasons he lost his job and make a decision based on his earning capacity and prospects for future employment. If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating. I will not be credited for answering your question without a positive rating. Thank you
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