Separating complex financial structures for High Net Worth individuals
Date when Video was Published: 06/10/2023
Script for the above Video
Separating complex financial and ownership structures in divorce for High Net Worth individuals
In family law proceedings, disagreements often arise as to whether the assets of a particular Trust are matrimonial and open for division between the parties, or alternatively, whether they are non-matrimonial and should be excluded from the “matrimonial pot”. There can also be disagreements about whether a particular Trust has been made with a proper purpose in mind, or alternatively, as a means of defeating the other spouses’ financial claims.
Frequently, the Court can be called upon to determine whether the assets of a particular Trust should be used to meet the needs of the parties, or to accomplish equality.
The Court has a duty to carefully consider all available assets and wealth of the parties to make orders that provide for a fair outcome in each case. Effectively, what this means is that when the Court is confronted with a dispute involving a Trust, they often look past the elaborate structures of a Trust and fail to survey the reality of the situation.
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This video content was created on 06/10/2023 to provide an overview of the legal position and the information was correct at the time this video was created. This video has been produced for purposes of generic information and marketing purposes only. While the information on this site is about legal issues, it is not intended as legal advice or as a substitute for the particularised advice of your own legal advisor. Please consult one of our lawyers to provide you with advice and assistance on any matters touched on this video. Viewing of this video does not create legally binding advice and does not create a retainer with Duncan Lewis Solicitors.
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