A recent news article by the BBC News stated;
“Ryan Giggs to claim ‘special contribution’ in divorce cash fight
11 April 2017
Ryan and Stacey Giggs were married in 2007
Former Manchester United footballer Ryan Giggs will argue he made a “special contribution” to the creation of wealth during his marriage, a divorce court judge has been told.
Giggs, 43, is embroiled in a dispute over money after the breakdown of his marriage to wife Stacey.
Mr Justice Cobb, who is presiding over the High Court hearings, heard Giggs will call witnesses to back his claims.
Millionaires must show “an X factor” to avoid an even split in marital assets.
Jo Edwards, an expert in family court litigation, said wealthy people are required to prove they have made a special contribution to avoid the marital pot being split evenly in two.
Mr Justice Cobb said Mrs Giggs could call witnesses at the Family Division of London’s High Court to “reply” to the former Wales international’s argument for the lion’s share of their marital fortune.
No-one likely to be called as a witness was identified at a hearing earlier, when Mr Justice Cobb analysed preliminary issues in the case.
Giggs made a record 952 appearances for Manchester United, scoring 168 goals in a decorated career that saw him win 25 major honours including 13 Premier League titles and two Champions League winner’s medals.
The judge will probably be asked to decide how big a share of the marital asset kitty Mrs Giggs should get if agreement is not reached.
He said a trial was unlikely to take place for some time.”
Whilst not all separating couples are in the enviable position of having to divide many valuable assets, frequently one couple will have the financial wealth or have ‘earned’ the wealth during the marriage whilst the other remained at home as a ‘homemaker’ perhaps caring for the children.
The Courts can and indeed do make allowances for ‘special contributions’ during a marriage. The test is applied and decided on a case by case basis so there is no guarantee a particular individual’s contribution will be seen as special. The length and duration of the marriage is relevant, as is the financial history of the couple, for instance has the wealth been enjoyed between them, has there been what is known as ‘mingling’ as wealth and assets been seen by the couple as theirs to share during the happy times.
Dividing assets on divorce can be a complex task, it is essential that you seek expert legal advice from an experienced Family Lawyer. Chose your representation carefully, ensure that person has many years of experience with financial asset division. Without the benefit of experienced Family Lawyers you may not achieve a fair or reasonable settlement.
To speak to an experience Family Lawyer at Farleys Solicitors please call 0845 287 0939 or complete our online contact form and we will get in touch with you.
The original news article can be found here.
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