It is not unusual in financial cases to discover that assets or interests of a third party are affected or threatened in some way.
For example, the mother who has sold her house and paid a lump sum to her daughter and son in law to develop an annex on their property. However, in the event that the daughter and son in law decide to divorce, at this point, the mother’s claims will be considered first and an amount will be earmarked for her from the matrimonial pot.
Alternatively, shareholders or partners may see their business capital threatened or at least open to scrutiny from a business associate’s spouse.
It is possible to limit the exposure of third parties at an early stage by taking some pre-emptive measures such as:
- Declarations of Trust
- Discretionary Trusts
- Shareholders’ Agreements
If it is already too late and proceedings are underway, steps can be taken to ensure that the rights of the third parties are not ignored. At JKC, we have experience in dealing with both individuals and business interests that have been threatened in matrimonial proceedings and succeed in preserving the third party’s interest.
For more information or to discuss any concerns you may have please call us on 01923 234 400