Preventing the dissipation of assets in divorce

  Divorce can often stir up feelings of mistrust between former spouses, especially when it comes to considering the financial division of assets.  Sadly, it is all too common that one spouse will try and dissipate matrimonial assets, either prior to a separation or during divorce proceedings, in the hope of minimising the amount of money that they have to provide to their former spouse. What is dissipation in the contest of a divorce? Dissipation of assets in divorce means that one spouse has sold, transferred, or otherwise disposed of property that should be taken into account when considering the division of matrimonial assets to arrive at a fair financial settlement.  Some of the common ways in which a spouse may try to dissipate assets include: transferring assets at an undervalue or for no value…

I’ve had a Dementia diagnosis, what should I do?

Alzheimer’s Research UK estimates that 944,000 people are living with dementia in the UK, with one in six people aged 80 and over at risk of developing dementia. It’s therefore likely that we’ll be affected by dementia, either directly or via a family member at some point in our lifetime. A dementia diagnosis can be devastating for a family, and understandably it takes time to fully digest the implications it brings. However, there are a few things that should be considered as soon as possible by the person receiving the diagnosis: Your papers – ensure all of your financial papers are in order and that your family know where everything is. Lasting Powers of Attorney (LPAs) – you should put in place LPAs. LPAs are documents which allow you to give authority to people you…

Renters (Reform) Bill: what does it mean for residential landlords?

The long awaited Renters (Reform) Bill has now been published by the government and it aims to change the landscape of rental housing in England One of the principal parts of the Bill is to abolish section 21 ‘no fault evictions’. Currently, landlords can recover possession of their let property after the fixed term has ended without having to prove any ‘fault’ or beach by the tenant. Under the new proposals the existing grounds for possession under S8 of the Housing Act 1988 have been extended so that there are provisions to enable landlords to recover possession if the landlord wishes to sell or a member of their family wishes to move into the property. The Bill also aims to strengthen the ability for a landlord to evict anti-social tenants. Other key changes include: Ending…

Have you planned for later life?

Wills Without a Will, your assets will be distributed according to the ‘intestacy rules’ i.e. the law dictates where your estate goes to on your death. The result might be that your estate doesn’t go to the people you want it to. By making a Will, it enables you to decide what happens to your assets on your death and can also include: any funeral wishes you may have; any specific items you wish to pass on, such as jewellery; any gifts of money you wish to make to family, friends or charities; If you have children under the age of eighteen, who you would like to look after them in the event of your death. It is really important to discuss your requirements with a professional so that they can consider your…

Covenant not to erect additional buildings did not stop the demolition and replacement of a building

In the case of McDonagh v Reeve [2023], the Court decided that the demolition of a property and its replacement with a substantially bigger building was not a breach of covenant. The parties in the case were Mr and Mrs McDonagh who owned Rose Cottage in Poole. The neighbour of the adjoining property was Karen Reeve.  Ms Reeve’s property had benefit of a restrictive covenant which was binding on Rose Cottage and provided that 'no additional buildings whatsoever' should 'at any time be erected' on the land. Mr and Mrs McDonagh applied to the Court for a declaration that their proposed demolition of the current building on their land and its replacement by a substantially larger building, for which they had received planning consent, would not amount to a breach of that covenant. The court…

Registered and unregistered land, what is the difference?

There are two systems of recording ownership of land in England & Wales; registered & unregistered.  Whether your land is registered or unregistered can have a major impact, & not only when you come to sell. Holly Stevens, Director & Head of Residential Property at Ware & Kay in York, considers the implications.  Registered land, an overview The Land Registry keeps a register of all registered land, which is indexed on a map. This register contains information on approximately 24 million properties.  Within this overall register, the Land Registry allocates properties their own unique number & individual register.  Each individual register includes three sections: ‘proprietor register’ - contains ownership information; ‘property register’ - contains a description of the property, linked to a map; & ‘charges register’- contains details of any mortgages or charges affecting…

Risky business - why farmers should make a lasting power of attorney

Farming is a high-risk business with the agriculture, forestry and fishing sector topping the table for workplace injuries according to the most recent Health and Safety Executive figures. If you are the key person who makes decisions and holds the purse strings on your farm and you get injured or lose mental capacity, your farming business could grind to a halt: workers and suppliers could not be paid, bank accounts may become inaccessible, and loan or mortgage payments could fall into arrears. With this in mind, more and more farmers are making a lasting power of attorney to protect their business interests, to ensure their farm continues to flourish should they become incapacitated, as Laura Carter, Wills & Probate Solicitor and agricultural specialist at Pearsons & Ward Solicitors in Malton (part of Ware & Kay…

Just One More Thing….by Johanne Spittle, Director & Head of Litigation

I have been lucky to have been the President of the Yorkshire Law Society since last summer and this has given me a unique opportunity to meet with lawyers and other professionals and get an understanding of their businesses. It is all too easy to only hear the bad news and overlook all the good things that are happening around us; being able to engage with lawyers and other professionals in the region has opened my eyes to just how much positivity there is and how resourceful and creative we are!  Covid-19 certainly made it clear to even the smallest professional business that the successful businesses were those embracing technology and using it to achieve greater efficiency and a competitive advantage. You can now contact your trusted professional using an app or through a client…

'Like being on display in a zoo': what are the consequences of the Tate Modern court ruling?

The Fearn v Tate Gallery Supreme Court decision in February 2023 received considerable coverage in the press not least because of the high profile nature of the defendant. How much will this case impact on nuisance disputes between neighbours? The claim was brought by the owners of long leasehold flats in a development directly opposite the new extension of the Tate Modern. One of the features of the building was a viewing gallery which enabled visitors to see straight into flats with visitors frequently looking into the flats and taking photographs and, less frequently, using binoculars. The claimants applied to the court for an injunction requiring the Tate to prevent members of the public from observing their flats on the grounds of nuisance. They also claimed a breach of their rights under article 8 of…

Crypto assets and a divorce settlement

  According to a report by Forbes Magazine in September 2022 there are now more than 20,000 crypto currencies worth a collective $982 billion, and NFT artworks (non-fungible tokens) are changing hands for huge sums. One of the ways in which these assets differ from the other assets which are considered for sharing in a divorce settlement, is that they are much easier to hide. What are crypto assets? They are digital assets commonly known as crypto currencies.  ‘Crypto’ means hidden, referring to the secure digital way data is held on who owns the asset, and ‘currencies’ reflects that this is a type of digital money.  Some commonly known crypto assets include Bitcoin, Binance, Ethereum and Tether though there are thousands more, with new ones being added regularly. Crypto assets differ from traditional assets in that…