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February 27, 2009

England’s Privy Council may have missed a trick in failing to rule that pre-nuptial agreements are binding. But for the first time, the courts have recognised that married couples should be entitled to fully regulate their own affairs

One day in early January is always dubbed D-day – the day when feuding couples are most likely to start divorce proceedings. In light of this, the Privy Council of England’s December 2008 ruling that the terms of pre-nuptial agreements are neither binding nor enforceable is not only timely, but could have ramifications for many family offices.

February 26, 2009

In an ideal world, the end of a marriage would lead to a clean financial break between a couple. The reality, however, is often far less straightforward. Despite the publicity divorce cases involving substantial assets receive, clean break cases are very much the exception.

In an ideal world, the end of a marriage would lead to a clean financial break between a couple. The reality, however, is often far less straightforward writes Sandra Davis, head of the Family Department at Mishcon de Reya.

For high net worth individuals, finality can be achieved either by reallocating capital to meet the receiving spouse's need for accommodation and income or, in longer marriages, by dividing the family's wealth to reflect the couple's contributions to the marriage.

October 23, 2008

Court papers have confirmed recent speculation that Sumner Redstone, head of family-owned holding company National Amusements, has filed for divorce from his wife.

Court papers have confirmed recent speculation that Sumner Redstone, head of family-owned holding company National Amusements, has filed for divorce from his wife.
 
The 85-year-old chairman of Viacom and CBS Corp has been married to Paula Fortunato Redstone, 46, for five and a half years. The couple, who have no children, filed for divorce in California last week.
 
Citing “irreconcilable differences,” the couple nevertheless said the marriage had ended “amicably” and they have agreed to settle out of court.
 

May 1, 2007

Running a family business can be tricky enough at the best of times, but things can get even worse in the aftermath of a painful divorce. Will the business suffer or become stronger? Tom Davidow explores the impact divorce can have and how to manage it

Running a family business can be tricky enough at the best of times, but things can get even worse in the aftermath of a painful divorce. Will the business suffer or become stronger? Tom Davidow explores the impact divorce can have and how to manage it.

Tom Davidow is founder and principal of Thomas D Davidow & Associates, based in Brookline, MA.

May 1, 2005

Divorce can throw everything out of kilter, especially if one partner insists on taking a chunk of the family business as part of a settlement. Andrew Drake outlines the issues, examines the implications and urges caution when considering a settlement

Andrew Drake is a partner at Penningtons Solicitors LLP. www.penningtons.co.uk

Divorce can throw everything out of kilter, especially if one partner insists on taking a chunk of the family business as part of a settlement. Andrew Drake outlines the issues, examines the implications and urges caution when considering a settlement

May 1, 2005

Divorce is not only a major personal trauma, it can also be amplified by the complexities and sensitivities surrounding settlements. Michael Drake suggests that although unpredictable, it is possible for the outcome to be satisfactory to all affected parties

Michael Drake is co-author of Divorce and the Family Business, published by Jordans

Divorce is not only a major personal trauma, it can also be amplified by the complexities and sensitivities surrounding settlements. Michael Drake suggests that although unpredictable, it is possible for the outcome to be satisfactory to all affected parties

January 1, 2005

Following US fashion, older generations of British family businesses are ushering successors to sign pre-nuptial agreements as part of the ownership transfer – even if the contracts aren’t legally binding in the UK. Melanie Stern reports

Melanie Stern is section editor of Families in Business magazine.

Following US fashion, older generations of British family businesses are ushering successors to sign pre-nuptial agreements as part of the ownership transfer – even if the contracts aren't legally binding in the UK. Melanie Stern reports

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