Family case study

1. Civil Partnership where assets are involved

Mr T had been in a civil partnership for just over a year when he separated from his partner, Mr N.

He had built up a number of assets before he had met Mr N, in particular a property portfolio which he started investing in with an inheritance he had received from a wealthy aunt many years ago.  The couple had acquired a property together with modest equity.  Mr T was worried that he may have to sell all his property portfolio to finance the settlement to Mr N on dissolution of the civil partnership.

Gorvins advised him in relation to a settlement and were able to negotiate a settlement on the basis that that he retained the majority of the capital available to the couple, so did not have to sell his portfolio.  The joint property was transferred to Mr N and there was a clean break between the parties.  The settlement was drawn up in a consent order by the court to ensure it was binding and the civil partnership was dissolved

2. An amicable agreement without incurring substantial costs

Mr and Mrs L were both in their thirties and had been married for 2 years although they had been living together for 8 years before that.

They were both on similar incomes and had broadly contributed equally to the assets they had acquired, namely a house and some shares and savings.

Mr L discovered that Mrs L had had an affair with another man. He instructed Gorvins to commence divorce proceedings against Mrs L and secure a financial settlement.

Although he was naturally upset that the marriage had broken down he wanted to try and reach an amicable agreement quickly and without incurring substantial legal costs, so that he could move on with his life.

We were able to reach an agreement on the basis Mr L bought out Mrs L’s interest in the house which was then transferred to his sole name and the remainder of the assets were divided between them so that they both came out with 50% of the matrimonial assets overall.

This was secured as a court order on a clean break basis so that neither of them would have any further claims against the other.

3. A divorce involving business interests

Mrs X was separating from her husband after 25 years of marriage. Her husband was a successful business man with a number of business interests and a substantial pension provision.

Mrs X had not worked during much of the marriage as she had devoted her energies to bringing up the children, and had only returned to employment in the last few years when the children had grown up. She worked part time on a much lower income than Mr X and had only very modest pension provision.  She was very anxious about her financial security for the future. We were able to obtain full details of Mr X’s financial position in order to then advise Mrs X in relation to an appropriate financial settlement.

Following negotiations with Mr X’s solicitors we were able to secure a financial settlement within divorce proceedings which provided Mrs X with sufficient funds to purchase a mortgage free property, provide her with ongoing maintenance to support herself and gave her a share of Mr X’s pension to provide her with an income on retirement.

Because we were able to reach an agreement following negotiations with Mr X’s solicitors; Mrs X did not need to attend court at any time. The divorce proceedings, and the approval of the financial order were dealt with by the court without the need for any court hearings.

4. Separation, finances, property and pensions

Mr and Mrs J had separated 3 years ago but had not formalised any arrangements in relation to their separation. Mr J had gone to live in rented accommodation and Mrs J remained in the matrimonial home with the couple’s 3 children.

Mr J had been paying a regular monthly amount to Mrs J since they separated to meet the outgoings etc on the house and for the children. He instructed Gorvins as he said he now wanted to formalize things. He was not sure whether what he was paying to Mrs J was more than he needed to. He also wanted to now finalise the arrangements so that both he and Mrs J could separate their finances and each could plan for their futures. He was not sure what he would be entitled to if they divorced, he wanted to make sure the children’s needs were met and also wanted to move out of his cramped accommodation to somewhere more suitable for the children to stay with him.

Both Mr and Mrs J were in professions, he in teaching and she in health and both had good occupational pensions. They had amassed some savings, although each also had some debts. We were able to advise him as to the appropriate amount of money to pay to Mrs J on an interim basis whilst an overall agreement was reached.

The parties divorced on the grounds they had been separated for 2 years and following negotiations a financial settlement was reached whereby the house was sold, the parties debts were paid off and the savings and proceeds from the house divided in such a way to enable Mr J to purchase his own property so he could move out of his rented accommodation. Both parties retained their own pensions. Mr J continued to pay child support for the children and we were able to advise on the appropriate amount taking into account the fact that the children would be staying overnight on a regular basis with Mr J after he moved out of the rented accommodation.