When a couple enter a marriage, they are doing so with the understanding that if anything goes wrong, in the UK, the law of the land stands that everything should be split 50/50 down the middle. Pre-nuptial agreements can certainly help but the Court still must consider the split and division fair to both parties.
BUT, what about couples where one partner earns a considerable amount more than the other? Or one person earns all the wages and the other stays at home to raise the family? What about if the one who earns the dough earns such an incredible amount due to a special skill set they have whether it be mental or physical? Well… these people are relying on the fact that they are a ‘genius’, without them and them alone, their separating partner would not have lived the life they did and thus, it is them who should benefit from the wealthy pot of money they have acquired over the years.
April 2017, saw a former American financier attempt to reduce the £72 million payment he must make to his ex-wife based on his genius, in one of the largest divorce rulings made by the English courts in recent years. He lost. Mr Work, 49, stated that a larger chunk of his £140 million fortune should stay with him on the basis that it was his ‘special’ and ‘genius’ contribution which led to the couple amassing their fortune with an American private equity firm in Japan.
Not only did the original presiding Judge on this case in 2015 state that the word ‘genius’ should be left to the likes of “Leonardo da Vinci, Mozart, Einstein and others like them…” but the three appeal Judges confirmed that ‘hard work’ is simply not enough to argue that the money was not raised through “some exceptional and individual quality in the spouse concerned”. The Court went on to deliver that Mr Work was nothing more than a target of luck, ‘being at the right place at the right time’ when he amassed his fortune.
Despite such ruling however Ryan Giggs, former Manchester United and ex England football player is maintaining that he in fact is a genius and again without him, the couple would not have enjoyed the fortunes they did and thus his long suffering cuckquean wife should not be permitted to an equal share of his 40 million fortune. This month Mr Giggs’ lawyers confirmed that they would be calling an expert to prove his genius and that without such talent the couple would not have enjoyed the financial success that they did. It was argued to the High Court that this should therefore encourage the Court to overlook Mrs Giggs’ homebuilding and companionship being of equal importance to their financial development.
Mr Giggs will be relying on only a handful of successful men who could demonstrate to the Court that their prowess makes them the worthier candidate for the lion’s share of the marriages financial pot. The last successful divorcee being Mr ‘I designed the bin liner’ Cowan, who was awarded 62% of a £12 million pot. Mr Cowan was described as inventive and having an ‘entrepreneurial flair’ that was considered ‘truly exceptional’.
Of course, a wave of male ‘genius’’ have thereafter seeped out of the wood work, many being considered not only unexceptional but shockingly, not a genius. However, with it being no secret that England is a desirable country to seek one’s divorce due to the legal premise that homebuilding is of equal value to financial earnings nothing is slowing down the slew of men seeking the genius card, because quite simply, the pay-out is worth it.
Will Mr Giggs succeed with the argument? Only time will tell, but he best hope the Judge is a Man U fan!
SEARCH THE BLOG