19 Apr Wife loses £175,000 spousal maintenance for life – recent Court of Appeal decision
Mrs Waggott appealed a judgment giving her a divorce settlement of £9.76 million plus spousal maintenance of £175,000 per annum for life, upon appeal she was seeking £190,000 per annum for life. Her appeal was in part based on the fact that she should share in her husband’s future earning potential and that she should not have to use the £9.76 million to live on. The Court of Appeal however has decided that Mrs Waggott was not entitled to share husband’s future earning potential and that she would be able to adjust and be financially independent, without undue hardship, by 1 March 2021. As a result Mrs Waggott will no longer receive £175,000 per annum for life, she will now only receive it until 1 March 2021, thereafter her spousal maintenance will end and her husband will no longer have an obligation to maintain her. The Court of Appeal felt the award provided her with time to become financially independent and that she could use some of the £9.76 million to generate an income to help with her financial support.
For advice on spousal maintenance or finances on divorce generally, please contact our Family Solicitor, Genette Gale on 01747 852377