France, like many European countries, applies a doctrine of “property regimes” to marital property. If married in France, the couple will elect one of these regimes, which affects how they hold their property during the course of their marriage. The type of regime will be determinative of how property is divided upon divorce, as well as impacting upon issues of bankruptcy and inheritance.
The English court has a wide discretion to investigate assets and divide them between the couples. The French courts have no such discretion.
Capital will be divided along the rules of the marital property regime adopted by the parties at the time of their marriage. This is most likely to be separation de biens, in which all property is owned by the person who acquired or earned it, or communauté universelle in which property earned during the marriage is owned equally. There are some variations on these which affect pre-marital assets, but it is most likely that such property would be excluded.
In England, such an agreement will carry some weight when dividing the capital but may be disregarded or deviated from by the court.
The French courts also very rarely award ongoing spousal maintenance. Though they have the power to order a “compensatory payment” of capital to balance the difference between the parties’ earning power, this is a one-off payment and will not be designed to keep the financially weaker party at the same standard of living as that enjoyed during the marriage.
For these reasons, the media often reports London as the ‘divorce capital of the world’ following several significant financial settlements and in specific, settlements in in favour of the spouses who have chosen England and Wales to pursue their divorces in.
The English courts typically aim for equitable division of assets, considering factors such as each spouse’s financial contribution, needs and future earning potential as well as non-financial contributions. In comparison to other jurisdictions, the English courts emphasise equality in financial settlements and start from 50/50, treating the same the breadwinner and homemaker of the marriage.
As a HNW and UHNW French national, you may be able to apply for divorce in England and Wales depending on the habitual residence or domicile status of either you or your spouse. But be aware – if one spouse perceives either of the two jurisdictions as being advantageous, there may be a race to get there first to ensure that the divorce is heard in one jurisdiction as opposed to the other one.
If you have a connection with a different jurisdiction, whether it is France or elsewhere, you should first establish whether you can get divorced in those jurisdictions and, if so, what the financial outcome may be compared to England and Wales. This information should be obtained without delay so that you preserve the option to issue proceedings in a country that is most favourable to you. Contact Vardags for a free initial consultation with one of our expert divorce solicitors.
Vardags’ team of top divorce lawyers serving clients in France delivers a bespoke legal service to HNW and UHNW individuals, their families, and businesses.
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