On the 24th of May the House of Lords gave rulings in two appeal cases concerning divorce assets. The rulings in the cases of Miller –v- Miller and McFarlane –v- McFarlane have turned the previous law on divorce settlements on its head, and have serious implications for anyone with even moderate assets who goes though a divorce.

Under the previous regime in the divorce courts, judges used to divide the assets in an ‘equitable’ way depending on several factors, including the length of the marriage. In ‘short marriage’ cases (up to two or three years) the courts generally only put the parties back into the position they were in before the marriage i.e. one party did not receive a share of the other’s wealth.

Also, when considering maintenance the courts had a duty to impose a clean-break in every suitable case, and in the few cases where they did award maintenance it was based on the other party’s ‘living expenses’, and often limited to just a few years.

No more. From now on the divorce courts will divide up the assets that were ‘accumulated during the marriage’ even in cases where the marriage might have only lasted a couple of years.

Not only that but a spouse who has given up a career to raise children and look after the family is likely to be compensated for what they have given up, and the wealth they would have had, by being awarded large maintenance payments for life.

If you feel that these rulings could affect you, our specialist divorce team at Woolley & Co. can advise on the implications for you, your business and your assets and can advise on possible protective measure such as pre-nuptial agreements. Call 01789 267377 to arrange a free initial half hour consultation.

Good employment policies will help – but if you are facing immediate problems call us now for advice on 01789 267377.

It is estimated that, in the UK, an identity theft happens every four minutes.

According to Which? magazine, 10% of people in the UK have been victims of identity theft and a further 15% know someone who has been a victim.

These ten tips for protecting yourself against identity theft should help:

1. Guard your National Insurance number. It is the key to your credit report and bank accounts and is the prime target of criminals.
2. Monitor your credit reports from rating agencies such as Experian and Equifax regularly. If an identity thief opens a credit card in your name you will find out before too much damage is done.
3. Shred all old bank and credit statements and “junk mail” credit card offers before throwing them in the bin.
4. Keep track of your billing cycles. A missing bill could mean that a thief has changed your address.
5. Keep your credit or debit card close when shopping or eating out. Watch how shop assistants or waiters handle your plastic so that they don’t have the chance to copy it.
6. Do not carry extra credit cards or other important identity documents except when you actually need them.
7. Copy both sides of your driving licence and credit cards, so that you have all the account numbers, expiry dates and telephone numbers if your wallet or purse should be stolen.
8. Examine all the charges on your credit card statements before paying them.
9. Cancel unused credit card accounts. The fewer you have, the less you have to keep track of.
10. Never give your credit card number or personal information over the phone unless you have initiated the call and trust that business.