Elizabeth Carson ponders the division of family assets in light of K v L
In the recent case of K v L [2011] EWCA Civ 550, [2011] All ER (D) 124 (May) Lord Justice Wilson, joined by Laws and Jacob LJJ, upheld a decision by Bodey J that restricted a husband’s entitlement, on divorce, to an award that met his needs, generously assessed, despite the fact that the wife’s assets greatly exceeded what either party would require.
Background
This decision follows the husband’s appeal against an order made by Bodey J, in the High Court, family division. That case is reported under the title K v L (Ancillary Relief: Inherited Wealth) [2010] EWHC 1234 (Fam), [2010] 2 FLR 1467.
Both parties were Israeli citizens. The court regarded them as having been married for 21 years, during which time they had three children, aged 9 to 16 at the time of this judgment. They moved from Israel to the UK in 1991. The marriage broke down in 2007.
At age 15 the wife inherited shares in her grandfather’s company, which was subsequently merged into
