Posts Tagged ‘divorce’

Dotcom tycoon ordered to hand over £7m divorce pay-out by Appeal Court judge | Mail Online

By Daily Mail Reporter
A Polo-playing dot com tycoon was today ordered by an Appeal Court judge to hand over half his £14milion fortune to his ex-wife.

Robert Jennings, whose healthcare information website, Mediconsult.com, made him rich, applied to the Appeal Court to slash the £7million divorce payout claiming it left him facing millions of pounds of debt.

But Lord Justice Thorpe said there was no reason why the court should be ‘burdened’ with his complaints.
The Jennings’s stately Saddlewood Manor home is on the market for £4.5million

The Jennings’s stately Saddlewood Manor home is on the market for £4.5million

When High Court judge Mr Justice Charles awarded the cash to Sarah Jennings in March, he slammed her husband’s ‘flagrant, persistent and consistent’ failure to fully disclose the extent of his wealth and ordered that the assets to be divided between the couple were worth nearly £14million.

He split that sum down the middle, ordering Mr Jennings to pay his ex-wife £7million by September 1 this year. He was also told he must pay her over £200,000 ayear in maintenance until the money was handed over.

The Gloucestershire mansion, Saddlewood Manor in Leigherton, Tetbury, is currently being marketed by Mrs Jennings for £4.5million and she can keep whatever she gets from the sale, after the mortgage is paid off, as a down-payment on the £7million her ex-husband owes her.

Philip Moor QC, for Mr Jennings, told the Appeal Court the couple had enjoyed a millionaire lifestyle of polo ponies, dressage horses, a private plane, expensive school fees for their three sons, along with other ‘extravagant expenditure’.

They had, he said, burned their way through about US$10 million in ten years.

At the time the marriage was breaking down in 2007, the QC said, ”he worst recession for decades hit hard’ and wiped out much of the value of the couple’s shares and properties, including luxury homes in Spain and Canada.

He said the couple had been living ’significantly beyond their means’ and all that was left of their assets was now worth only around £4.3million, including the equity in Saddlewood Manor – a far cry from the £14million assessed by the judge.

He told the Appeal Court Mr Justice Charles had ‘erred’ in not rejecting Mrs Jennings’ case that her ex-husband had approximately £9.5million in ‘undisclosed’ assets.

Lord Justice Thorpe, sitting with Lord Justice Elias, said of the £7million lump sum: ‘Of course it’s a stiff order’ – but went on to refuse Mr Jennings permission to appeal against it.

Describing it as what would generally be regarded as a ‘big money’ case’, he said the judge had found ‘flagrant, persistent and consistent’ failures on Mr Jennings’ part to comply with his duty of full and frank disclosure.

Arguments that the falling value of Saddlewood Manor – once valued at £4.9million – is having an unfair effect on Mr Jennings ‘did not even begin’ to justify a full Appeal Court hearing, he said.

For a free consultation on any family law issue, please contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC at (865) 566-0125.

Boris Berezovsky in ‘£100m’ divorce battle – Telegraph

Boris Berezovsky, the Russian oligarch, will divorce his second wife Galina today in what could be the costliest marriage split in British legal history.

The exiled businessman, who will not contest the case at the High Court, is reportedly expected to pay his second wife anything up to £100 million, which would be more than double the previous record of £48m.

Mr Berezovsky and his wife have been married for 18 years, though they have been separated for the last 16. Mrs Berezovsky lives in London with the couple’s two teenage children, while he lives in Surrey with his girlfriend of 15 years, Yelena Gorbunova, with whom he has another two children.

Mrs Berezovsky, who hired the law firm Mishcon de Reya to negotiate a divorce settlement, is reported to have been seeking a quarter of her husband’s fortune, which was once estimated at £1 billion but is now thought to be far less.

The couple met in 1981 when Mr Berezovsky, 64, was a professor of mathematics in Moscow earning £60 a month. He later set himself up in business as a car dealer, founding the first Mercedes dealership in the old Soviet Union, then became one of the original Russian oligarchs when President Boris Yeltsin sold off state assets to favoured supporters for a fraction of their value.

He married Galina after divorcing his first wife, Nina, with whom he has two further children, but his second marriage hit trouble after only three years and the couple separated.

Mrs Berezovsky, 51, is reported to have filed for divorce after becoming irritated at reports describing Miss Gorbunova as the oligarch’s “wife”.

Mr Berezovsky was sentenced to six years imprisonment in his absence in Moscow after being found guilty of fraud, having been granted political asylum in 2003 when Russia applied to have him extradited. He has since accused the Russian prime minister Vladimir Putin of being behind a plot to assassinate him.

Lord Bell, Mr Berezovsky’s spokesman, has confirmed in the past that the businessman was “negotiating a divorce settlement” and intended to marry Miss Gorbunova once the divorce was finalised.

The current record for a divorce settlement in a British court is the £48m awarded by the High Court to Beverley Charman, the former wife of the insurance millionaire John Charman, in 2006.

For a free consultation, contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC at (865) 566-0125.

Mortgage Options While Going Through a Divorce | Loans – Credit – Debt – LoanSafe.org

Homeowners who are going through a divorce have a lot of things that need to be taken care of before they separate. If both husband and wife are on a home mortgage together, than the home and loan issues need to be addressed right away. Even if in your divorce decree it says that the other spouse is to take care of the home and mortgage payments, it is crucial that you realize that this will not remove your liability from the obligation. When you both agreed to the mortgage and signed the loan documents, you both agreed to be held responsible for the repayment of the loan.

To remove one spouses liability from the mortgage, the property will either need to be sold, transferred/deeded or the mortgage refinanced or assumed. One can always choose to keep themselves on the mortgage, but this is a risky position if the other spouse happens to default on the loan. In this article we will briefly help you understand your options during these hard times.

Quitclaim Deed or Interspousal Transfer Grant Deed:

A quitclaim deed is a document that transfers any interest in a property from one person to another another person. A quitclaim deed can be utilized to transfer a home from one spouse to another, but an interspousal transfer deed may be better for this type of situation. But please keep in mind that they both cannot release your mortgage debt obligations on the home. A quit claim deed may prevent an ex’s heirs from claiming his shares after his death which can be avoided through an interspousal transfer deed.

A interspousal transfer grant may be the best option in a divorce situation. This makes it simple to transfer property from one spouse to another and also to change community property into separate property. The process is similar to that of a quit claim deed. You will need to sign these together with a notary and you may want to get the assistance of an attorney to make sure it is filled out correctly.

In the case of a Interspousal transfer deed, you can add your spouse to the deed later by going to your county recorders office and adding them on title.

But please keep in mind, that once you all sign the deed, this does not get rid of your mortgage contract. You are still obligated to pay by law.

Sell the Property

Generally, one of the easiest and most effective ways to get both spouses name off the mortgage and to remove liability from the debt is to sell the home. You can use the sale to help pay off the existing mortgage, and any left over proceeds can be split between both parties. It may be a better option to attempt to sell the home before the divorce is complete to help avoid any future problems over the sale price. Additionally, this benefits both parties because neither will have to worry about the other spouse managing the monthly payments, maintaining the household, or paying property taxes and insurance.

One spouse refinances the home into their name only

Having one spouse refinance the mortgage into their name only is another very effective way to remove one’s liability from the mortgage. During this event, usually the spouse that wants to keep the property will pay off the other spouse’s equity share while refinancing the loan into solely their name. Many professionals suggest signing a quit claim deed to extinguish any rights the other party has to the home.

It is crucial that you make sure the home is only refinanced into one spouses name. This will ensure that the spouse who did not keep the home is safe in the event of a default or foreclosure on the property.

If you divorce is not yet complete and you have already decided who will be keeping the property, its a good idea to include in your divorce decree who will be refinancing the mortgage. This way you can prove that both parties have came to an agreement as to who will be taking over the home and mortgage payments.

One spouse assumes the mortgage

A divorce mortgage assumption is one option that is not brought up all that often. One main reason why is because not all mortgages are assumable, and even if they are, many mortgage lenders tend to be hesitant to do so. Therefore, your only way to find out is to call your lender and see is this option is open.

If the mortgage lender will allow one party to assume the loan, you will begin the process by completing an assumption agreement and a release of liability. The bank will also require your financial documentation to determine whether or not the mortgage can be handled based off one borrower’s income. If you do meet the requirements, you may also have to provide a copy of your divorce decree and quit claim deed. Generally, if the assumption is approved one spouse will receive a release from liability.

For some homeowners going through a divorce an assumption may be a good option (if your loan allows you to do so). While there may be a few fees that come along with this event, they are usually much less than the fees that will come with refinancing the mortgage.

Please contact your local Knoxville divorce attorney today for a free consultation at The McKellar Law Firm, PLLC at (865) 566-0125.

British Columbia eyes family law reforms – CTV News

VICTORIA — The B.C. government is proposing broad family law changes it hopes will discourage domestic violence while encouraging separated and divorced couples to settle disputes outside the courtroom.

After a four-year review of its Family Relations Act, the province released draft legislation Monday as part of a 180-page discussion paper.

It marks the latest effort to change how the province deals with legal disputes involving separating couples and domestic violence.

The proposed legislation — which would be called the Family Law Act — aims to discourage couples from seeing the courts as the first stop in resolving a dispute, instead calling for more options to resolve conflicts through co-operation and mediation.

The government hopes a less adversarial system will reduce the stress that comes with a divorce or separation, which is something the province’s attorney general notes is associated with an increased risk in domestic violence.

“There is nothing more emotional than the breakdown in a relationship, and you can amplify that statement when children are involved,” said Attorney General Mike de Jong.

“What you see is an attempt to provide a route to resolution that is less adversarial and less likely to invoke unpredictable emotional responses.”

Domestic violence is also at issue in how the law would settle custody battles.

The proposed legislation makes the best interests of the child the only consideration when it comes to settling parenting disputes, including asking children for their views.

Those best interests will now include a history of family violence, how children have been cared for in the past and whether there have been any civil or criminal proceedings relevant to their safety.

“It (domestic violence) goes from being a factor that was always given consideration to being explicitly set out statutorily in a case where there does need to be court intervention,” he said.

Domestic violence has been under a microscope in British Columbia since a horrific murder-suicide in Victoria in 2007, when Peter Lee killed his six-year-old son, his wife and her parents before finally killing himself.

There have been several reports since, including a coroner’s report and another from a government panel into domestic violence calling for changes, including fast-tracking domestic violence cases through the courts and ensuring better co-operating between police, the justice system and government departments.

The changes announced Monday also follow amendments last year to the rules governing civil and family cases designed to make it easier for ordinary citizens to access the courts.

Those included eliminating filing fees for parties that use mediation, limiting the exchange of documents that aren’t directly relevant to a case, and three days of free trial time.

Other proposed changes in the document released Monday include:

– Extending property rights for common-law couples who have lived together for two years or have children.

– Outlining how to determine a child’s legal parents when reproductive technologies are used.

– Removing adversarial language in the law by replacing terms such as custody and access to “guardianship” and “parenting time.”

The proposed changes will go to public consultation in the coming months prior to coming up in the legislature some time next year.

Please contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC at (865) 566-0125 for a free consultation.

Divorce ‘is contagious’ – Telegraph

The heated emotions aroused by one person’s divorce can be transferred like a virus, causing others to divorce, researchers found.

Not only can the risk of divorce spread from one couple to their friends or family, it can also affect relationships at least two degrees of separation away from the original couple splitting up, according to the findings of sociologists and psychologists from three North American universities.

The researchers have called it “divorce clustering” and found that a split up between immediate friends increases a person’s own chances of of getting divorced by 75 per cent.

The effect drops to 33 per cent if the divorce is between friends of a friend, referred to by the researchers as two degrees of separation, then disappears almost completely at three degrees of separation.

People with a divorced sibling are 22 per cent more likely to get divorced than people who do not.

The report added that people with children were less susceptible to being influenced toward divorce by other divorced couples.

When a divorced person confided in someone married, the married person gained knowledge about the benefits and drawbacks of divorce. In the study it appeared most people saw the benefits in divorce.

For a free divorce consultation, contact your local Knoxville Divorce Attorney at The McKellar Law Firm, PLLC, at (865) 566-0125.

9NEWS.com | Denver | Colorado’s Online News Leader | Magazine labels Cheyenne as ‘Splitsville, USA’

CHEYENNE, Wyo. – Out of the entire country, Cheyenne, Wyo. is most prone to divorce, according to a study conducted by Men’s Health magazine.
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“Apparently, there’s more than buffalo roaming in Cheyenne,” the article said.

The study took 100 cities and looked at the number of failed marriages, stringency of divorce laws, the percentage of the population that has split and the number of licensed marriage counselors in the area.

According to the study, Wyoming’s divorce laws are more lax than most, which could possibly explain the high divorce rate.

Stephen Melchior, a family law lawyer in Cheyenne, cannot explain Cheyenne’s abnormal numbers, but he does not think the state’s divorce laws are necessarily to blame.

“It’s very easy to get a divorce in the state of Wyoming as it is in every state,” he said.

Still, it does take less time to complete a divorce in Wyoming than several other states.

Reno and Las Vegas were both ranked in the top five. Denver ranked 34th.

If you have questions regarding marriage dissolution, please contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC (865) 566-0125.

FOXNews.com – Facebook to Blame for Divorce Boom

The dangers of social networking sites for the young are well documented, but increasing numbers of middle-aged users are also having their private lives thrown into turmoil by online activity.

Marriage counselors claim sites like Facebook
are contributing to separations and divorce as bored 40 and 50-somethings try to reconnect with childhood sweethearts. British divorce firm Divorce-Online said Facebook was cited in one-fifth of the divorce petitions it processed last year, The Sunday Mail reports.

If you have any questions or concerns regarding a family law issue, please contact your local Knoxville divorce attorney today at The McKellar Law Firm, PLLC, at (865) 566-0125 for a free consultation.

How Visa Predicts Divorce – The Daily Beast

By scrutinizing your purchases, credit companies try to figure out if your life is about to change—so they’ll know what to sell you.

If you ever doubted the power of the credit card companies, consider this: Visa, the world’s largest credit card network, can predict how likely you are to get a divorce. There’s no consumer-protection legislation for that.

Why would Visa care that your marriage is on the rocks? Yale Law School Professor Ian Ayres, who included the Visa example in his book Super Crunchers, says “credit card companies don’t really care about divorce in and of itself—they care whether you’re going to pay your card off.” And because people who are going through a divorce are more likely to miss payments, your domestic troubles are of great interest to a company that thrives on risk management. Exactly how the credit industry does it—through sophisticated data-mining techniques—is a closely guarded secret. (Visa did not return requests for comment.)

Contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC, at (865) 566-0125 for a free consultation.

The Associated Press: Wade asks for sole custody of his 2 sons

MIAMI — Dwyane Wade has asked a court to grant him sole custody of his two young sons, adding to an already venomous and drawn-out divorce proceeding between the Miami Heat guard and his estranged wife.

In addition, Wade has asked that his wife be ordered to undergo a psychological examination.

Documents obtained Wednesday by The Associated Press show Wade alleges his wife Siohvaughn cannot “be considered a fit and proper person” to raise their children. In more than 300 pages of filings, the All-Star says his wife exhibited threatening behavior, had extramarital affairs, uses abusive parenting methods and is unwilling to let the 2006 NBA finals MVP see his children.

The couple has two boys, ages 8 and 2.

“For more than two years, I have tried to make peace with Siohvaughn concerning our divorce and custody of our kids,” Wade said in a statement released to The AP. “I no longer believe that’s possible. Siohvaughn has consistently attempted to interrupt or prevent me from having visitation time with our boys.”

Siohvaughn Wade’s behavior “has made it evident that she is unstable, dishonest, unbalanced, unwilling to accept responsibility for her actions, not of good character, and therefore, unfit to be a custodial parent,” according to the petition.

If you have questions or need information regarding any family law matters, please contact your local Knoxville divorce attorney at The McKellar Law Firm, PLLC at (865) 566-0125.

Will Health Care Reform Finally Let Us Get That Divorce?

Bob and Jacki Marsh have been following the twists and turns of the health care reform debate closely. Like most Americans, they want to know: Will health care reform help us?

More specifically: Will health care reform help us finally get divorced?

The California couple separated in 2004, when Jacki moved to Utah to be with her son and granddaughter. But they stayed legally married because Jacki, who suffers from cardiomyopathy, is uninsurable on the private market. Since 1984, she’s relied on a series of pacemakers to keep her alive.

Without Bob’s insurance, Jacki believes she would have been unable to afford the replacement she needed in February 2009. “It would have been out of pocket, I wouldn’t have had the funds,” said Jacki, 55. “I would have died.”

Jacki will need help soon: In July, Bob turns 65 and will be eligible for Medicare, which won’t cover his estranged spouse. She said the cost of her heart medication alone will nearly double.

Jacki might benefit from one of the more immediate provisions of health care reform. In three months, the Department of Health and Human Services is required to set up an “interim high-risk pool” to cover people who are uninsurable due to preexisting conditions. It’s not clear how helpful this provision is going to be.

The state of Utah has had its own high-risk pool for years. Like the HRPs in many states, it comes with a six-month “exclusion period” during which Jacki’s heart condition would not be covered. But to qualify for health care reform’s high risk pool, Jacki has to be uninsured for six months. So that’s not much better. And would either program let her continue to travel to California to see the cardiologist who’s kept her alive for more than 20 years?
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In terms of premiums, it will be up to the health department whether the high-risk pool under the new law will be more generous than existing state pools, which typically charge premiums ranging from 125 percent to 200 percent of the “standard risk rate.” In 2010, out-of-pocket costs for an individual policyholder in the pool will be capped at $5,950; a family policy caps costs at $11,900.

The pool will have $5 billion to make up the difference between premiums and costs, and the Treasury Department has the authority to dish out more money if needed — but at the same time, the health secretary has the authority to stop taking applications to comply with the funding limitation.

Failing the pool, Jacki is looking toward 2014, when the insurance industry will be prohibited from discriminating against people with preexisting conditions. People in the individual market will be able to choose from subsidized policies via “exchanges.”

That’s right about when Jacki’s current pacemaker will need to be replaced. “I’m going to be right at the edge… My next pacemaker will be due at the time — in theory — that they can’t discriminate against people like me. Reality is I may not be able to afford my medications between now and then. I’m not going to bankrupt my family. If I can’t afford it, I just won’t take my medications.”

Bob and Jacki spoke amicably of each other in separate interviews with HuffPost. (”He’s a fine person in his own right and I am in my own right,” said Jacki. “The marriage ran its course and it’s over.”) But, grave health concerns aside, the insurance industry’s preexisting discrimination has left the estranged couple in a state of romantic limbo.

Please contact your local Knoxville divorce attorney today at The McKellar Law Firm, PLLC at (865) 566-0125.