Divorce appeal rejected
Martin Loxley, family law specialist and Partner at national law firm Irwin Mitchell, comments on the decision today by appeal judges to reject John Charmans appeal to reduce his ex-wifes £48 million divorce settlement:
The decision by appeal judges today, in the UKs biggest ever divorce payout , which saw Mrs Charman keep her £48 million settlement, will certain raise eyebrows amongst the elite and wealthy in the UK.
This appeal decision ds not change the law, it ds however reinforce the principle that in long marriages, such as this, there must be a very good reason to detract from equal measure. In Mr Charman losing his appeal, the courts are saying in cases of lengthy marriages it would be wrong to discriminate between the money earner and the home maker.
Indeed, the courts no longer consider in a divorce what the wifes needs are, but instead what she is entitled to. If the wife receives more than she can ever spend, like in this instance of £48 million, then this is her return for being married to a successful husband.
As a result of this decision we are likely to see a significant increase in the demand for pre-nuptial agreements especially amongst the UKs wealthiest. Even though they are not yet legally binding in the UK, they are still a very useful tool for outlining who entered the marriage with what, and so in turn who should leave with what should there be a divorce.
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