BTO Family Law partner Lesley Gordon provides some clarity to the subject of family businesses and divorce.
The breakdown of a marriage or civil partnership can often bring with it some nasty surprises. This applies equally to your finances as it does to other aspects of your relationship.
St Andrews Day is today and whilst it has got us feeling somewhat patriotic, it has also got us thinking about the differences between Scotland and England & Wales. One such difference is the starkly contrasting legal systems that are at play, particularly when it comes to Family Law.
If you and your spouse are considering separating, you will no doubt be thinking about your future finances. This can cause a lot of anxiety particularly if you have been financially dependent on your partner over the course of your marriage and you may be concerned about how you will support yourself going forward.
I don’t want to mention the “C” word. However, the reality is that I have to. Coming into week 5 (I think?!) of lockdown the impact of the virus is becoming abundantly clear. The immediate implications including domestic abuse, surrogacy, compliance with court orders and maintenance orders have all been covered by my colleagues. My thoughts now turn to settlement of financial claims.
If you have ever received an inheritance or gift you will be well aware that these items can very often hold great sentimental value. However, not only can they hold a place in our hearts, these items can also hold significant economic value. [Read more…] about Inheritance, Gifts and Divorce – what you need to know
With the financial year end looming, finances and tax are hot topics on everyone’s mind at the moment. If you are separating, your divorce may be the last thing you think has year-end consequences, but if you are considering transferring assets between you then it is important that you seek professional advice before the year end on 5 April 2019.
Amazon founder Jeff Bezos and his wife Mackenzie recently announced that they were separating after 25 years of marriage. The couple are estimated to be the wealthiest in the world, with Jeff worth $137 billion according to the Bloomberg Billionaires Index.
Family Lawyer Lesley Gordon discusses no-fault divorce, comparing the English and Scottish divorce systems in light of the UK Government’s open consultation on Reforms of the Legal Requirements for divorce.
According to Legal and General’s recently published report in 2018 the Bank of Mum and Dad will help 316,000 loved ones buy a home, an increase of 17,700 from 2017. One in four transactions in the UK are dependent on the Bank of Mum and Dad.