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Treatment of Overseas Trusts

Family Finance

In the case of BJ v MJ (Financial Remedy: Overseas Trusts) the Family Division ruled on the variation of two overseas trusts created by the husband during the marriage.

The judge ruled that all the assets in this case amounted to matrimonial property – including those held in the overseas trusts.  Under the sharing principle it should therefore be shared equally between the husband and wife.  However, as the trusts were clearly set up to benefit the couples’ child and future generations it was ruled that the trusts were to be varied.  There would be a new settlement in which the wife would have a life interest in half the assets with the remainder going to their child.

If you would more information on divorce and finances please contact our Family Law Department for a free initial appointment on Eastbourne 01323 727321 or Hailsham 01323 841481.

Nicholas Dennis
Nicholas Dennis
Alexandra Funnell
Alexandra Funnell
Guy Brown
Guy Brown
Carolyn Richards
Carolyn Richards