Foreign Bank Accounts & Assets Abroad
Foreign bank accounts and assets abroad can present problems in divorce settlements and these problems have to be considered early on.
The first problem is how do you find out about them? The English Courts have extensive powers to order disclosure where there is information to suggest there is a basis to do so. Often this is ordered at the same time as a freezing order is made.
The second problem is often how you can enforce a transfer of a foreign asset? This is where early consideration pays off. Different rules apply depending on the types of assets. For example the transfer of land titles is subject to different rules than sharing a foreign pension.
A further frequent problem concerns whether the asset should be regarded as matrimonial property. That requires looking at the history of how the asset came in to existence.
Valuation of foreign assets can often be difficult. English law again is pretty efficient at ordering prompt accurate valuations, but sometimes locating the right experts to carry them out can be a challenge.
Henry Brookman has long experience of dealing with all these questions and would be pleased to help you if your case involves assets abroad.
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What our clients are saying:
‘GA’, Perth, Australia (October 2015)