Resources S25(2)(a) Flashcards
What is S 25(2)(a) MCA
income, earning capacity, property and other financial resources, that each party has or is likely to have
What goes into the pot for division
everything goes into the pot and will be treated as being available to meet needs and compensation (White)
What did Miller say about the difference of matrimonial and non-matrimonial property
matrimonial property is a product of the parties common endeavour, while non-matrimonial property is not
What is the case where property is owned before and becomes the matrimonial property
it will be treated as the matrimonial property as considered central to the family life and the focus of both the parties money and effort
What happens with inherited property
at this stage inherited property which is non-matrimonial will be included to meet needs, compensation but may ultimately justify unequal division.
What happened in Y v Y
HC, husband inherited wealth in form of country estate. Total assets £27 M larley comprising the real estate. The husband disagreed with what the wife should get, in liquid assets offered £6 M, to offer more would be of sell the estate. The court held that was not fair to the wife, so husband would have to liquidize his property. The wife needed £9 M.
white v White
Farming business one of which bought together and one inherited by husband, but ran farms jointly over several decades. The HC decided the husband was ongoing farmer so counter- productive to sell the business. The wife was awarded 20% which could be funded without having to break up the business. Appealed and CA said that she should have more, and increased to £1 ½ million, HL said the CA was within the bounds of reasonable decision. This is the case where although no presumption of equality but use yardstick of equality to measure the fairness of the result. Fairness implies equal divisions. The statute simply has factors. So, close to a presumption, measure fairness by reference to equality. Wife ends up with 40%, but husband had inherited to explain why not 50:50. Miller v Miller, ‘white smashed a glass celling’,
P v P
approved in miller. Farming family. To sell the farm would be to ‘kill the goose that lay the golden egg’ departure from equality as counterproductive to sell the main assets of the family as that is how they generated income. So common sense has a role to play.
Can the court take into account future inheritance
yes, however, this expectation deemed to be uncertain to be taken into account?
In considering earning capacity/ future earning capacity what will the courts consider
consider the age, children, state of the job market, skills and appreciable track reccord
Leadbeater v Leadbeater
couple married 20 years, Wife had been a secretary before married. Question was, how could she be expected to earn if entered fully into the labour market. The court decided too old to retrain for modern technology therefore her earing capacity should have been limited. If younger the decision may have been different. Unsure if this would be followed.
SA v PA
She had not been working before marriage, not clear how much she was earning. No appreciable track record at the time she gave up work. Impossible to speculate where she would be now if she had made different decisions.
What is there a duty to do regarding what financial assets you have
a duty to make a full and frank disclosure of assets a failure to do so may result in an order bring set aside of amended if assets come to light at a later date: Sharland
When considered resources will anything be ring fenced
unlikely at this stage
the income must reflect the true financial position of the parties
Hardy v Hardy, earning £70 a week working for his father in a successful family business. But livied a lifestyle beyond that income. Court decided he was required to make a payment which reflected his true financial position not technical position of being a mere employee.
