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What family lawyers need to know about criminal law: Restraint and confiscation

Although outside the jurisdiction of the family court, restraint and confiscation orders make reasonably frequent appearances in these proceedings. This is perhaps unsurprising, as most of us would likely give some thought to the future if it came to light that our spouse was involved in significant financial or organised crime, which could result in confiscation of family assets. As such, it is not unusual for suspects faced with a criminal investigation or prosecution to also find themselves contemplating divorce. Given the possibility of these regimes butting heads as they compete for the family assets, it is helpful for family lawyers to have a grasp of restraint and confiscation orders, and their interaction with financial proceedings.

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The Review

Financial case digest: CB v KB [2019] EWFC 78 (Fam)

This case highlights a number of issues, including the approach to valuing/ capitalising income streams, the importance of the valuer’s market knowledge, and discounts to capitalised figures to reflect non-matrimonial source of income stream. It also shows the encouragement of amortisation and step down, and involved the phenomenon of “hot-tubbing” experts.

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The Review

Covid-19: set aside and Barder events

With so many people’s financial positions likely to change suddenly, what are the chances of setting aside or varying an order made in more stable times?

With the global economic markets in turmoil, valuations being undermined immediately, many businesses on the edge of an abyss, the housing market effectively frozen and widespread furlough leave and redundancies, there cannot be a more difficult time for financial remedy practitioners to advise clients on the merits (or not) of pursuing or settling financial claims.

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The Review

Deconstructing the marital pot

With the courts increasingly needing to establish historical values, robust accountancy approaches are required – but with active and passive growth, the springboard effect, and the general concept of fairness all in play, there is seldom one clear answer. 

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The Review

Blood out of a stone

A court-appointed receiver is a fairly draconian step, but is worth considering as one possible strategy for an unco-operative ex-spouse.

Sadly, it is not an uncommon scenario: following hotly contested divorce proceedings an order is made that requires one spouse to make financial payments over a period of months or years to the other.

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The Review

CGT and separation

Draft legislation has been released which will impact divorcing or separating couples who are disposing of their main residence and/or transferring ownership to their former spouse or civil partner.

In this article for The Review Alison Palmer examines how the new rules will in most cases result in additional capital gains tax (CGT) by reducing the reliefs available. Some practical examples illustrate how the timing of transactions can have a significant impact on the resulting tax liability. As always, timing and detail are all-important in maximising the relief available, so professional tax-planning advice can be exceptionally valuable in such cases.

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