The value of a family business or business interest is treated as an asset and therefore part of the matrimonial pot to be distributed when it comes to negotiating a financial settlement on divorce or...
PROPERTY AND AFFAIRS:Re JDS; KGS v JDS  EWHC 302 (COP),  COPLR 383
Sep 29, 2018, 18:17 PM
Meta Title :
Meta Keywords :
Canonical URL :
Trending Article :
Prioritise In Trending Articles :
Jul 9, 2012, 10:02 AM
Article ID :99417
(Court of Protection, Senior Judge Lush, 19 January 2012)
The man, who suffered from cerebral palsy due to birth complications, received a personal injury settlement from the local health authority of £2.09m. His professional deputy applied for permission to transfer a part of the sum into a trust in order to save substantial amounts of inheritance tax for the benefit of his parents following his death.
The court dismissed the application on the basis that it would not be in the best interests of the man. If the settlement were calculated correctly then upon the man’s death there would be no remainder of money as it would have been necessarily exhausted on his care needs during his lifetime. That was the purpose for which the compensation was intended.