Working in finance can bring high rewards, but when it comes to divorce that can bring stress and complexity. You will want to ensure that your capital and income are protected, including future bonuses and unvested awards.
Generally speaking, the English court shares the wealth which was built up during the marriage. Property earned or acquired before then, or from sources such as inheritance, will be treated as non-matrimonial and used only so far as is necessary to meet your partners’ needs. You will need to demonstrate clearly when and how your assets were acquired. For those with a background in finance, the court will generally consider deferred options which relate to work during performed during the marriage as matrimonial property.
As a high earner, you may be required to pay ongoing maintenance to your spouse. This will depend on their income and their needs. You will want to focus on how much you will have to pay, and for how long. To do this you will need realistic assessments of you and your partners’ future income, including pressure points such as when approaching retirement.
Vardags for bankers
Vardags is a firm of specialists in high value divorces. The lawyers have significant experience in dealing with bankers and clients from the world of finance. With an in house forensic team which combines legal and financial knowledge, they are the best placed to advise you on your divorce.
Vardags understand the specific circumstances of high earning bankers, including the proper treatment of unvested options and the impact of bonuses on future earnings. With their in depth expertise and track record of working with successful finance professionals, they can advise you on how to protect your income and capital during your divorce.
Vardags team for bankers
As a senior director at Vardags, Simon McKirgan has worked on a large number of cases involving high earning individuals. He understands the specific issues which arise with clients who work in finance, including the effects that unvested shares, options and bonuses can have on structuring capital and maintenance awards.
Lois Rogers has experience in representing bankers and has written for Family Law Week on bonuses and family law, whilst Sophie Cantillon also has extensive experience representing financial professionals.