Survey reveals divorcing couples more likely to hide assets
Entitled, 'For richer, for poorer', and with the sub-heading, 'What’s yours is mine, and what’s mine is out of sight', the 8th annual survey from Grant Thornton on matrimonial law reveals that forty-eight per cent of family lawyers believe that individuals are likely to conceal assets during divorce proceedings, whilst a further thirty-five per cent consider it a possibility.
The survey canvassed the top 101 of what are termed 'the UK's leading family lawyers' based on their client work in 2010.
Concealment of assets in divorce
Thirty per cent of respondents were concerned about the effect of the Court of Appeal judgment in Tchenguiz v Imerman, that clients would no longer be able to obtain fair settlements due to undisclosed assets, with sixty-one per cent believing the ruling will lead to more assets remaining undisclosed.
Reasons for divorce
Extra-marital affairs are no longer the most common reason for divorce. It has now been replaced by parties who say that they have grown apart or fallen out of love.
Divorce in a recession
Eighty-two per cent of the lawyers canvassed claimed that people were delaying divorce proceedings because of the recession, with a majority stating that the current low value of assets was the greatest reason for this delay.
Pre-nuptials more popular
Following the Supreme Court's decision in Radmacher v Granatino, fifty-nine per cent of those surveyed said they were experiencing greater demand for pre-nuptials.
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