{"id":6155,"date":"2017-06-18T11:14:07","date_gmt":"2017-06-18T11:14:07","guid":{"rendered":"https:\/\/dominiclevent.com\/blog\/?p=6155"},"modified":"2019-04-17T17:17:13","modified_gmt":"2019-04-17T17:17:13","slug":"is-london-the-best-place-to-get-divorced-the-london-economic","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/is-london-the-best-place-to-get-divorced-the-london-economic\/","title":{"rendered":"Is London the best place to get divorced? &#8211; The London Economic"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">&#13;<br \/>\n                <\/aside>\n<p><!-- Share buttons by mashshare.net - Version: 3.4.2--><\/p>\n<p>Over the past decade, London has become renowned worldwide as the best place to divorce for the less wealthy spouse.<\/p>\n<p>Dubbed the \u201cdivorce capital\u201d of the world, there have been many cases going through London\u2019s courts involving large settlements, some consisting of hundreds of millions of pounds.<\/p>\n<p>The latest divorce case involving large sums of money, <a href=\"http:\/\/www.telegraph.co.uk\/news\/2017\/05\/11\/judge-orders-city-trader-pay-ex-wife453m-biggest-uk-divorce\/\">reportedly Britain\u2019s biggest divorce<\/a>, has done nothing to dent London\u2019s reputation. Quite the opposite, in fact. This judgement has positively reinforced London\u2019s status as the \u201cdivorce capital\u201d.<\/p>\n<p>In this case, a judge at London\u2019s High Court awarded nearly half (just over 41%) of \u00a31 billion of marital assets, to the estranged wife of a City trader. Due to a court order, we don\u2019t know the couple\u2019s names.<\/p>\n<p>The wife reportedly argued that she should receive half of the couple\u2019s fortune because of her \u201cequal contributions to the welfare of the family\u201d. The husband claimed that he had made a special contribution to the wealth created in their marriage.<\/p>\n<p>Having met whilst studying in Moscow in the late 1980s, the couple married and had two children. They moved to London in 1993, although the husband was not a resident in the UK for tax purposes. The woman became a British citizen in the year 2000 and had been a homemaker throughout their marriage.<\/p>\n<p>The judge awarded the wife \u00a3453 million and said that the man had not made a special contribution to the marital assets. The wife\u2019s settlement included a \u00a3350,000 Aston Martin car and a modern art collection valued at over \u00a390 million.<\/p>\n<p>This is just one of the large payouts that has enabled London to build its reputation as the best place in the world to get divorced for a less wealthy spouse.<\/p>\n<p>A few years ago, financier <a href=\"http:\/\/www.telegraph.co.uk\/news\/uknews\/law-and-order\/11289857\/Sir-Chris-Hohn-ordered-to-hand-over-337m-in-one-of-Englands-biggest-divorce-cases.html\">Sir Chris Hohn was reportedly ordered<\/a> to give \u00a3337 million to his estranged American wife. Up until now, this was the largest reported divorce settlement. However, people can choose to hold their divorce settlements in private, through a process known as <a href=\"https:\/\/austinkemp.co.uk\/2016\/10\/03\/speed-divorce-process-arbitration\/\">arbitration<\/a>, so there may be bigger settlements that we do not know about.<\/p>\n<p>But why is London such a good place to get divorced? In essence, the starting point for a financial settlement upon divorce in English law is a 50\/50 split. Obviously, there are factors that will influence this but it tends to be the case that any of the money that is built up within a marriage, is likely to be roughly split in this way. It doesn\u2019t matter whether you are the homemaker or the breadwinner.<\/p>\n<p>This makes London a very attractive place to divorce, particularly for a spouse who has given up work to bring up children.<\/p>\n<p>However, it cannot be stressed enough as divorce is a complex matter regardless of the marital assets involved you need specialist legal advice to guide you through this potential mine field.\u00a0 <a href=\"https:\/\/austinkemp.co.uk\/contact\/canary-wharf-divorce-lawyers-and-family-law-solicitors\/\">Specialist divorce solicitor firms<\/a> based in Canary Wharf and other key London areas have seen a rise in the number of cases they are now instructed in dealing with complex financial asset arrangements.<\/p>\n<aside class=\"mashsb-container mashsb-main mashsb-stretched\">&#13;<br \/>\n                <\/aside>\n<p><!-- Share buttons by mashshare.net - Version: 3.4.2-->\t\t\t\t\t\t<\/div>\n<p><br \/>\n<br \/><a href=\"http:\/\/www.thelondoneconomic.com\/lifestyle\/london-best-place-get-divorced\/14\/06\/\">Source link <\/a><br \/>\n<a href=\"https:\/\/dominiclevent.com\/contact-us\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-300x100.png\" alt=\"\" width=\"600\" height=\"200\" class=\"aligncenter size-medium wp-image-14\" srcset=\"https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-300x100.png 300w, https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-150x50.png 150w, https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer.png 600w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#13; Over the past decade, London has become renowned worldwide as the best place to divorce for the less wealthy spouse. Dubbed the \u201cdivorce capital\u201d of the world, there have been many cases going through London\u2019s courts involving large settlements, some consisting of hundreds of millions of pounds. The latest divorce case involving large sums &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dominiclevent.com\/blog\/is-london-the-best-place-to-get-divorced-the-london-economic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Is London the best place to get divorced? &#8211; The London Economic&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-6155","post","type-post","status-publish","format-standard","hentry","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is London the best place to get divorced? - The London Economic - Dominic Levent Solicitors Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominiclevent.com\/blog\/is-london-the-best-place-to-get-divorced-the-london-economic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is London the best place to get divorced? - The London Economic - Dominic Levent Solicitors Blog\" \/>\n<meta property=\"og:description\" content=\"&#013; Over the past decade, London has become renowned worldwide as the best place to divorce for the less wealthy spouse. 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