Business assets: Open or shut?

Rayden Solicitors | Family Law Journal | December 2018/January 2019 #182
Rachel Nicholl examines the courts’ approach to business assets and the different orders that may be made to deal with such assets ‘While the court must consider the value of all the assets in the case in order to properly exercise its discretion, given the expenses involved in instructing an expert, this is something that …

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P v P [2015] EWCA Civ 447

Wills & Trusts Law Reports | July/August 2015 #151

A husband and wife met in 1999 and married in 2003. They had one child together, of primary school age at the time of the proceedings. In 2005 the husband and wife moved into a farmhouse owned by the husband’s parents. In 2009 the husband’s parents settled the farmhouse on a discretionary trust for the benefit of their children and remoter descendants. Subject to the power to appoint the capital and income to the discretionary beneficiaries, the farmhouse was held on trust to pay the income to the husband for life, and it was declared that the making of any land comprised within the trus...

Family Businesses: The golden goose

Russell-Cooke LLP | Family Law Journal | June 2014 #137
Rebecca Stone reviews the case law relating to family businesses and the differing approaches taken by the courts to such assets ‘In F v F (clean break: balance of fairness) [2003] the judge accepted that where some of the assets are illiquid it may not be possible to achieve either the aim of equality or …

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BJ v MJ [2011] EWHC 2708 (Fam)

Wills & Trusts Law Reports | April 2012 #118

The husband (H) and the wife (W) were both 65, having married in 1980. There was one child of the marriage (C), aged 25. The former matrimonial home was Green Farm, a substantial property set in 72 acres in Kent. Trust assets fell to be divided following divorce.

In order to mitigate tax on the floatation of his company (ABC), two Jersey trusts were created by H in 1994 (No. 1 Trust and No. 2 Trust) and a company incorporated in the British Virgin Island called Giloch Investments Ltd (Giloch). No. 1 Trust was a discrertionary trust for a class of beneficiaries comprising H, W, C, ...