Blog
Rayner my parade! The importance of specialist advice.
Jemma Brimblecombe
14 March 2017
Practical tips on varying spousal maintenance – does life mean life?
After several cases suggesting a sea of change and an end to "meal tickets for life", the recent case of Mills v Mills may have stemmed the tide. Maintenance orders for life can hold uncertainties for both the payer and the recipient. If you are the payer, what does maintenance for life really mean? If you are the recipient, could your maintenance be terminated or reduced in the future? Either party could be subject to a variation order in the future. Whilst we cannot dissect the decision in Mills v Mills without the judgment, in this blog we set out key practical points that anyone facing a variation application (whether the payer or the recipient) may find helpful to consider.
28 November 2016
Delay in making a decree absolute — an exception rather than the rule
In this blog, originally published by LexisNexis, Jane Keir examines the court’s judgment in Thakkar v Thakkar and the ‘special circumstances’ in this case that delayed the granting of a decree absolute.
24 August 2016
What happens to a divorce settlement if a spouse dies during or after divorce proceedings?
Going through a divorce can be both emotionally distressing and technically challenging at the best of times. However, in the event of one spouse dying during or shortly after divorce proceedings it can bring an added element of complication. Although this is thankfully a very rare occurrence, there are options to consider depending on the stage divorce proceedings have reached.
4 March 2016
Getting divorced - what the non-dom changes mean for you
In the 2015 Budget, George Osborne announced that, from 6 April 2017, certain new categories of non-UK-domiciled individuals will be deemed to be UK-domiciled for tax purposes. This will result in the loss of a significant tax planning opportunity for some couples who have non UK assets; are separating or contemplating divorce; and wish to make an offshore transfer between each other in a tax efficient fashion after the new rules take effect.
24 February 2016
Doughnut or double - bankers’ bonuses and spousal maintenance
Bonuses are a significant but unpredictable part of most bankers’ salaries. Under the current EU cap, bankers can receive bonuses equal to 100% of their basic salary and with shareholder approval bonuses of 200% can be awarded. However, a banker may receive no bonus at all. Emolument.com, a site that provides bonus statistics based on data submitted directly by professionals, predicted that 2016 would see more ‘doughnuts’ (zero bonuses) at one end of the spectrum and very large strategic pay outs at the other. And, according to a recent article in The Independent online referring to the lack of transparency in the making of bonus awards, a banker may have little insight into what they will receive until it is awarded.
Against this background of uncertainty, how can you work out your finances on separation or divorce if a large part of your income, or your spouse’s income, is a discretionary and difficult to predict bonus?
