In a recent Court of Appeal case it was held that a husband who blew over £200,000 of the couple’s money each year on drink, drugs and call girls was not entitled to an equal share of the money from the marriage given his frivolous lifestyle.![Divorce Solicitors in Portsmouth]()
The couple in question were very wealthy with a £3.5 million flat in a prestigious London address; they also spent almost every weekend in Monte-Carlo. However, in 2009 the wife walked away from the lifestyle of luxury due to her husband’s use of drink, drugs and call-girls.
Divorce proceedings were issues in 2014 and the wife claimed that she should be entitled to over half of the couple’s £13.6 million fortune. However, the husband claimed that he had an addictive “illness” which led him to spend a large amount of money, and he claimed that he should not be punished for this. In 2014 a family Court judge awarded the wife £7.4 million (£1.2 million more than the husband) and this ruling was upheld in the Court of Appeal.
It was held that the wife would require the inflated amount to meet her needs of £170,000 a year, considering her previously expensive lifestyle. In addition it was felt that the wife had no hope of making a living having given up work a short while after meeting her husband. However, it was found that despite his addictions, the husband’s investments and business portfolio would ensure a sufficient income into the future.
Lady Justice Black said, “The assessment of a spouse’s needs includes a consideration of the way in which the parties led their lives whilst together. When approaching the wife’s budget, the judge was entitled to take account, as he did, of the parties’ high standard of living during the marriage.”
At the initial hearing, the family Court Judge had found that the conduct of the husband, including the fact that he had spent £200,000 a year on his vices since the breakdown of the marriage, justified a split from the usual rule where assets are split equally.
Lady Justice Black further said, “The judge explained why he considered it fair to the parties to depart from an equal division of assets. The first reason was that it was necessary in order to cater for the wife’s needs and would still leave the husband with sufficient to meet his needs. The second reason was the husband’s conduct, which the judge accepted had led to the reckless frittering away of family money.”
Samantha Lee, Managing Director and Family specialist at Swain & Co Solicitors says, “In many everyday cases there are simply not that many assets and often no compelling reason for a departure from an equal split of those assets. However, this case shows that in the big money cases, the conduct of the parties, including reckless spending of money, can sometimes be taken into account when deciding on the correct split for the assets.”
If you are going through a divorce and have queries about your finances please do not hesitate to contact us today on 02392 492 967.
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