High net worth divorces often make the headlines, and soon we will hear even more about them. A new ruling made in relation to a high profile court case will allow more private details of a divorce to be reported.
The case is likely to be the wealthiest divorce case in UK history, between a hedge fund manager Christopher Hohn and his wife Jamie Cooper-Hohn. Their personal fortune is estimated to be worth at least £760m and the case has already attracted huge publicity as it is likely to conclude with the largest divorce award made by aUK Court.
Media reports on big money divorce are good at pushing peoples’ buttons by reporting cases normally as “money grabbing wife gets huge settlement” insinuating that a man has worked hard to build up his fortune whilst his wife has ‘swanned around’, making no financial contribution, with the aim to ‘fleece’ him during their divorce.
These stereotypes of ‘gold-digging’ wives and defeated husbands crop up regularly in the newspapers and are normally attached to big money divorce cases, which hide the reality of most male and female finances, post-divorce.
According to research by Professor Stephen Jenkins, of the London School of Economics, divorce boosts mens’ income by around a third while women lose more than a fifth of their income; a loss that continues for many years. This is the opposite of what we are led to believe from the media’s portrayal of high-profile cases.
Men tend to walk away from divorce with their earning potential unaffected, which is why they recover more quickly, economically. It takes women years to do the same (and many never do).
At Bray and Bray we are here to help you achieve the best settlement possible and always strive to exceed your expectations in the conduct of your case. The lawyers in our Family Law department are specialists in divorce and are dedicated to providing you with expert, professional and sympathetic advice.
If you require any advice about divorce and/or resolving the financial issues associated with divorce then do not hesitate to contact our specialist divorce solicitors. We have three main offices across Leicestershire. Feel free to pop in and talk to our solicitors at your local office.
Leicester 0116 254 8871
Hinckley 01455 639 900
Market Harborough 01858 467 181
Alternatively, visit our divorce information page.