The starting point for dividing finances on divorce is 50:50 – but when is this not the case?
A high-profile divorce usually gets a good amount of media coverage and although the numbers involved are beyond that which we can even begin to dream about, the principles are still worth considering.
In the case of the London financier, Sir Chris Hohn, the High Court has ruled that his American wife, Jamie Cooper-Hohn, would receive 1/3 of the couple’s assets, not half.
Samantha Lee, Solicitor and divorce specialist says, “The couple were married for 17 years, which is a long marriage, and have four children together, three of whom are triplets. In a long marriage case like this, the starting point would be an equal division of the assets. So what made this case different?
The Judge ruled that the husband’s financial genius was the driving force behind the couple’s fortune. The wife has been awarded £337m of the couple’s £1bn fortune”
The couple set up the Children’s Investment Fund Foundation, known as CIFF, which works to transform the lives of poor and vulnerable children in developing countries and have reportedly given away about £1bn.
If you would like to discuss how the distribution of family assets could apply to your circumstances or would like to see how we can help you, contact our experienced team today – 023 92 492967.
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