The UK Supreme Court is currently hearing the high-profile divorce case of Standish v Standish, which began on 30th April 2025 and continued into 1st May 2025.
The main issue in the case is the ability to distinguish between assets generated during the course of a marriage and not. These are referred to as ‘matrimonial assets’ and ‘non-matrimonial assets’.
The husband and wife who married in 2005 and initiated divorce proceedings in 2020, are disputing the classification of a £77 million transfer from husband to wife during their marriage. The source of the funds having been the husband’s pre-martial asset. The transfer is said to be part of an estate planning strategy for their children; however, this was not finalised into a trust, leading to significant legal debates.
Initially, the High Court deemed the transferred monies as matrimonial property, awarding wife £45 million. However, the Court of Appeal reduced this award to £25 million in May 2024, emphasising the importance of the source of monies. The Court of Appeal formed a clear view of those assets generated during the course of a marriage and not.
The wife was granted permission to appeal to the UK Supreme Court of which a decision is eagerly awaited as it may change the future of financial settlements and likely consequences for the important of pre-nuptial agreements.
While a pre-nuptial agreement is at the discretion of the Court, it may assist in avoiding costly litigation, and if proceedings are necessary then it is useful for the Court to have sight of the parties’ intentions in the event of separation.
We will of course be able to provide an update upon the decision of the Court being received on Standish but, as with any family matters, the key is to obtain legal advice as soon as possible, to ensure that the advice received is appropriate and timely.
If you’re looking for legal advice in relation to a divorce or financial settlement, please contact our experts at Farleys on 0845 287 0939, get in touch by email or us the online chat below.
