…a case which is currently being heard within the Court of Appeal raises this very question.
The parties in this case are Hossam Radwan and Hayat Alireza who were married for 14 years and have three children. Husband is a former Goldman Sachs banker and wife has been a home maker throughout the marriage.
In 2015, the High Court dealt with financial settlement and accepted that the husband should pay his wife a lump sum of £2million with the right to remain in the family home until the death of her father. This was on the basis that the Court accepted that the wife would inherit a considerable fortune upon the death of her father who is a member of Saudi Arabia’s oldest business dynasty and whose wealth far exceeds that of the husband.
The wife had argued that she should receive a greater share of the matrimonial assets as it is the responsibility of her husband not her family to provide for her financially. It is also the case that there can be no certainty as to when her inheritance will come to her, if at all. Her father’s death may be many years away.
The Court of Appeal is being asked to determine whether the High Court was right to consider the wife’s potential inheritance. Should the court decide that potential inheritance is a relevant consideration the implications could impact on the settlement of many separating couples even in cases where the parties are considerably less wealthy than Mr and Mrs Radwan.
Inherited assets are often a factor when couples divorce and already the impact of inheritance received during the marriage or after separation can raise complex legal arguments in subsequent divorce proceedings. If the Court of Appeal decide that potential as well as actual inheritance should be considered the position for many divorcing couple and their legal advisors will become more complex and uncertain.
If you would like any help or advice regarding family and relationship breakdowns then please contact Michelle Guest on 01926 356045 or email michelle.guest@alsterskelley.com