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Scenario
Analysis - International Property
Couples often have assets in two or more countries. However divorce settlements often cannot be enforced outside the country where they are made. |
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International Property - Scenario Analysis Example #1
Mr & Mrs A had a home in England where she mostly lived. She and her husband owned a villa in Spain where he now lived. He had a pension income from his former U.K employer and about £500,000 with a bank in Jersey. Mrs A thought there was a trust involved. She relied on his maintaining her. He was about to receive perhaps up to £1,000,000 from a buy-out of his former U.K employer.
Our solution:
The short-term step was to apply to the court to freeze the payment from the buy-out. Then whatever happened beyond our control Mrs A was likely to be fairly well safeguarded. That probably would be enough to ensure that her husband would co-operate with the English Courts process of disclosure. It gave us time to fully locate the assets, and to advise on a sensible proposal to try to resolve the matter by agreement.
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