Easing the transition

I've now read the full report of the case The Times referred to on it's front page last Saturday (see this post). The judgment makes interesting reading, and is certainly somewhat different to the 'spin' put on it by The Times, which suggested that the wife didn't do very well.

The marital assets at the time of the separation were some £27 million. It was agreed that these should be shared equally, but the wife also sought half of the £2.3 million bonus that the husband had 'earned' (if indeed one can 'earn' an extra £2.3 million in a year) since the separation, plus an additional £1.5 million "as compensation for her loss in the future of a share of the husband's income and her interest in his earning capacity". The wife failed in this, and this is what The Times picked up on. However, The Times failed to mention that, in addition to half of the £27 million, the judge awarded her a further £1.4 million, which he described as "an award that eases her transition to independent living". Quite why £13.5 million was not enough to ease that transition, he did not explain.

I'm sure I'll find the judgment most useful when advising my clients how to split the proceeds of sale of their three-bedroomed semis.

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