Y v Z. Schedule 1

Y v Z. Schedule 1

The court determined that the children’s financial provision must reflect their needs and welfare, not the carer’s aspirations or the parental standard of living, and ordered a $5m housing fund, £600,000 lump sum for capital needs, car provision, $250,000 pa per child maintenance, school fees, Arabic tuition, life insurance, and a £250,000 legal fees deposit, with security and further horse provision adjourned.

Parties
Applicant: Y; Respondent: Z
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Schedule 1 Children Act Proceedings / Final Judgment
Outcome
Financial provision orders for the benefit of the children granted; applications for security and further horse provision adjourned with liberty to restore.
Legal Topics
Financial Provision for Children, Schedule 1 Children Act 1989, Child Maintenance, Property Settlement, Carer's Allowance, Security for Maintenance, Life Insurance, Standard of Living Assessment
Family Law Child Law Financial Provision for Children Schedule 1 Children Act 1989 Child Maintenance Property Settlement Carer's Allowance Security for Maintenance +2 more

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Parties

Y

Applicant

Z

Respondent

Procedural Posture

Schedule 1 Children Act Proceedings / Final Judgment

Legal Issues

  1. 1 Determination of appropriate financial provision for children under Schedule 1 Children Act 1989
  2. 2 Assessment of housing, capital, and income needs for children and primary carer
  3. 3 Application of 'millionaire's defence' and disclosure requirements

Ratio Decidendi

The court determined that the children’s financial provision must reflect their needs and welfare, not the carer’s aspirations or the parental standard of living, and ordered a $5m housing fund, £600,000 lump sum for capital needs, car provision, $250,000 pa per child maintenance, school fees, Arabic tuition, life insurance, and a £250,000 legal fees deposit, with security and further horse provision adjourned.

Court Disposition

Financial provision orders for the benefit of the children granted; applications for security and further horse provision adjourned with liberty to restore.

Orders

  • $5m housing fund for property in USA with lease arrangement for applicant and children
  • £600,000 lump sum for capital needs (furnishing, moving, security system, debts, horse for applicant, initial horses for children)