Wednesday, November 17, 2010

Want to set aside your divorce settlement?

A father and son are in Court arguing over whether the £5.1 million paid to the deceased mother upon divorce should be varied. In this tragic case as reported in The Independent the mother died months after the divorce case was finalised, with the father retaining the business assets. He is now being sued for potentially £3 million and claims that this is an intervening event, that his wife is now dead and does not need the money and that the claim relates to when they were joint owners ( He may well have indemnified her on that point as would be a normal precaution).

Life is unpredictable. The wife dying within months is potentially an intervening event. The damages claim is potentially an intervening event. The matter was brought to the Court's attention early. Is it fair to amend? The son says no. The father took on the risk and potential gains of the business.

Glad he's not my son.

The tragedy of this case is that the father and son are fighting over money. I can never imagine trying to get money from my father. I can never imagine my children trying to get money from me. Relationships like that are worth more than £5 million pounds.

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