G v G

G v G

The wife's trust interests are not marital assets but are a financial resource to be considered in the s.25 exercise. The husband should primarily fund relationship-generated needs, contributions, and disadvantages for a transitional period, after which the wife's earnings and trust interests should fund her independent lifestyle. Periodical payments are to be reduced over time to reflect her earning capacity, and housing needs are to be met from an equal division of liquid capital, with any excess to be funded by borrowing or trust assets.

Parties
Applicant: G; Respondent: G
Jurisdiction
England and Wales
Judgment Date
24 February 2012
Procedural Posture
Financial Remedy Application Under the Matrimonial Causes Act 1973 / Final Judgment
Outcome
Financial remedy granted; division of assets and periodical payments ordered.
Legal Topics
Financial Remedy, Trust Assets, Periodical Payments, Housing Needs, Division of Assets, Spousal Maintenance, Child Maintenance
Family Law Financial Remedy Trust Assets Periodical Payments Housing Needs Division of Assets Spousal Maintenance Child Maintenance

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Parties

G

Applicant

G

Respondent

Procedural Posture

Financial Remedy Application Under the Matrimonial Causes Act 1973 / Final Judgment

Legal Issues

  1. 1 How should the wife's trust interests and prospects be treated in the division of assets and periodical payments?
  2. 2 What is the appropriate quantification and duration of spousal periodical payments?
  3. 3 How should housing needs be funded post-divorce?

Ratio Decidendi

The wife's trust interests are not marital assets but are a financial resource to be considered in the s.25 exercise. The husband should primarily fund relationship-generated needs, contributions, and disadvantages for a transitional period, after which the wife's earnings and trust interests should fund her independent lifestyle. Periodical payments are to be reduced over time to reflect her earning capacity, and housing needs are to be met from an equal division of liquid capital, with any excess to be funded by borrowing or trust assets.

Court Disposition

Financial remedy granted; division of assets and periodical payments ordered.

Orders

  • Equal division of liquid capital assets; wife to repay £170,487 to husband secured by charge over new home at 2.5% interest, repayable two months after order.
  • Periodical payments to wife: £95,500 per annum, reducing to £75,500 after 2 years, £55,500 after 4 years, £35,000 after 6 years, with RPI increases after 6 years.