WF v HF [2012] EWHC 438 (Fam) (05 March 2012)

WF v HF [2012] EWHC 438 (Fam) (05 March 2012)

The 2003 share agreement is not a maintenance agreement as defined by section 34(2) of the Matrimonial Causes Act 1973 and does not survive separation; it is to be rescinded in its entirety. The division of assets must reflect the exclusion of pre-marital value and passive growth of the husband's company, with the wife awarded a larger share of the matrimonial home proceeds to reflect her role as primary carer. Lifetime gifts to the husband's older children are not to be 'added back'. The wife's maintenance needs are set at £300,000 per annum, with a lump sum and property transfers to achieve a fair division approximating 45% of matrimonial assets to the wife.

Citation
[2012] EWHC 438 (Fam)
Parties
Petitioner: WF; Respondent: HF
Jurisdiction
England and Wales
Judgment Date
05 March 2012
Procedural Posture
Ancillary Relief (financial Remedy) Proceedings Following Divorce / Final Judgment After Trial
Outcome
Ancillary relief granted with variation and rescission of settlements; division of assets and maintenance ordered.
Legal Topics
Ancillary Relief, Variation of Post Nuptial Settlements, Valuation of Matrimonial Assets, Maintenance, Division of Property, Trusts in Divorce, Clean Break
Family Law Ancillary Relief Variation of Post Nuptial Settlements Valuation of Matrimonial Assets Maintenance Division of Property Trusts in Divorce Clean Break

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Parties

WF

Petitioner

HF

Respondent

Procedural Posture

Ancillary Relief (financial Remedy) Proceedings Following Divorce / Final Judgment After Trial

Legal Issues

  1. 1 Whether the 2003 share agreement is a maintenance agreement subject to variation under Matrimonial Causes Act 1973
  2. 2 Valuation and division of pre-marital and matrimonial assets, including company shares and trusts
  3. 3 Treatment of lifetime dispositions to husband's older children

Ratio Decidendi

The 2003 share agreement is not a maintenance agreement as defined by section 34(2) of the Matrimonial Causes Act 1973 and does not survive separation; it is to be rescinded in its entirety. The division of assets must reflect the exclusion of pre-marital value and passive growth of the husband's company, with the wife awarded a larger share of the matrimonial home proceeds to reflect her role as primary carer. Lifetime gifts to the husband's older children are not to be 'added back'. The wife's maintenance needs are set at £300,000 per annum, with a lump sum and property transfers to achieve a fair division approximating 45% of matrimonial assets to the wife.

Court Disposition

Ancillary relief granted with variation and rescission of settlements; division of assets and maintenance ordered.

Orders

  • The 1996 settlement to be varied: net proceeds of Peyton Place sale divided one-third to husband, two-thirds to wife, to be reinvested in separate properties.
  • No removal of trustees from the 1996 settlement.