The Supreme Court has ruled that Clive Standish, a former banker, does not have to split his wealth equally with his ex-wife, Anna, after their divorce. The court upheld a previous decision that most of the £80m in question was earned before the marriage, reducing Anna's share to £25m.
Clive Standish, 72, transferred investments worth £77.8m to his wife in 2017 as part of a tax planning scheme. The couple, who married in 2005 and have two children, separated in 2020. In 2022, a High Court judge awarded Clive £87m and Anna £45m from a total wealth of £132m, but the Court of Appeal later cut Anna's share to £25m, a decision now upheld by the Supreme Court.
The Supreme Court justices ruled that the 2017 assets were not 'matrimonialised' because the transfer was for tax saving and the benefit of the children, not the wife. Legal experts say the judgment provides clearer guidance on categorising assets upon divorce and may increase demand for prenuptial and postnuptial agreements.
Family lawyer Caroline Holley noted that the ruling, while involving the super-wealthy, is relevant to everyone. Chris Lloyd-Smith of Anthony Collins added that transparent financial planning is crucial, and regular reviews of agreements can help protect assets.
