Divorcees who are planning to retire this year can expect annual retirement incomes of up to 16 per cent, or £3,000, lower than those who have never divorced. Research carried out by Prudential also shows they are more likely to be in debt.
Prudential’s annual study has the past ten years tacked the finances, future plans and aspirations of people planning to retire in the year ahead. It shows that for those retiring in 2017 expected annual retirement income is £16,300 for those who have previously divorced compared with £19,400 for those who have never suffered a marriage break-up.
The Supreme Court of Cassation in Italy has delivered a landmark judgment, stating that parties who divorce and have independent means or the capacity to work should not expect to receive indefinite maintenance divorce payments on the basis that they were entitled to retain the same tenor of life as when married.
Divorce should not be seen as a ‘set-up for life’, Italy’s supreme court has said, in a landmark ruling that strips divorced spouses of the automatic right to hefty maintenance payments.
Award represents 41.5% of matrimonial assets
The East European former wife of an oil and gas trader, born in the Caucasus, has been awarded £453 million in financial remedy proceedings against her former husband. It is thought to be one of the largest divorce awards in the UK.
The couple in the case have not been named. The wife was represented and The husband was not represented, did not appear in person at any hearing but attended the final hearing by video-link from his yacht in the Caribbean.
A millionaire fruit farmer cannot use Brexit as a reason to keep more of the family fortune from his ex-wife, a judge has said.
Last year Paul Mansfield, 56, was ordered to hand over £12.2million of an estimated £30 million to his former wife. In law this was a long marriage – they had been married 26 years.
On Tuesday, in a hearing at the Court of Appeal, Mr Mansfield said he should be able to challenge the award to his ex-wife because it took no account of the impact that Brexit has on his fruit farming business.