Contact the Family Team
Exeter Office
Tel: 01392 210700 Email us
St Austell Office
Tel: 01726 74433 Email us
Truro Office
Tel: 01872 265100 Email us
The divorce rate in the UK is high, with between 40 and 50% of marriages now ending in divorce. Sadly, the farming community are not immune to this statistic.
One theme underpinning most farming divorces more than any other type of divorce, is the prominence given to wealth - very often land - that has passed down through the generations. This might have happened by way of a gift, inheritance or some other more complicated means, such as a discretionary trust. Such transfers may be sensible from a tax planning point of view, but from a divorce point of view can lead to some quite unintended consequences.
Take, for example, the husband who receives a piece of land from his father. If his wife begins divorce proceedings the Court will approach the case on the basis that the land should be taken into account. This would not necessarily mean that the wife looks to have the land transferred into her name, but it might result in the asset having to be borrowed against, or in a worse case scenario sold, to fund a higher settlement for her.
In this example, It is important from the husband's point of view that the Court is made aware of how the land was gifted by his family; the role it played in the farm and the hope on the family's part that it would be preserved for them in the future. These arguments can carry significant weight if put correctly. It is important that good legal advice is sought at the outset of any problems from a firm with expertise in dealing with farming divorces.
For further advice or assistance, contact the Stephens Scown family law team at family.exeter@stephens-scown.co.uk or on 01392 210700.
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