Judge sides with husband in dispute over matrimonial assets
In a real-life divorce case brought before the courts earlier this year, a firm of forensic accountants was asked to determine what percentage of the matrimonial assets were contributed over a 29-year marriage by the husband and the wife.
In this case, the husband claimed that he had made more of a contribution than the wife to the assets, which amounted to some £182 million. This was because he had set up a business in 1978, which had gone from “strength to strength” and was valued at £221 million. In his opinion, the value of the business at the time when he was still single should be excluded from the sharing principle. However, his wife, who moved in with him in 1986, disagreed and said that all the assets from both parties brought to the marriage should be pooled and split on a percentage basis.
In this case, the judge agreed with the husband and said that the 1986 value of the business should be separated from the total pot.
Author: Roger Isaacs, 27 November 2017