Matrimonial Asset or Not?

A Husband who was the victim of sexual assault as a child has been ordered by the Court to pay £100,000 of his compensation to his Wife.

Andrew Kerslake was subjected to the abuse as a child and subsequently received £175,000 in compensation. His Wife of 19 years argued that the sum was a marital asset and should therefore be divided so as to meet both parties needs. Last week, the Court found in her favour.

Attempts to ring-fence assets following separation are not uncommon and for example, often arise where one party receives an inheritance during the course of the marriage.  The Court has the ability to utilise any sums so as to make what it deems to be a fair settlement and therefore careful consideration must be given to any assets which one party deems non-matrimonial to determine whether they can be exempt.

If you would like further advice about marital assets, contact our Family Solicitor Andrew Foulds to book a preliminary appointment at one of our offices.

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