Does the court look at cryptocurrencies in divorce proceedings?
Cryptocurrency is viewed as an asset in divorce and financial proceedings. At the financial disclosure stage of the divorce process, both parties have a duty to provide full and frank disclosure of their finances. Any cryptocurrencies should be identified at this stage.
Once identified, cryptocurrencies need to be valued. As with any other asset involved in a divorce settlement, such as a house or a business, there must be a figure placed on the cryptocurrency to assist the settlement negotiations.
Unfortunately, cryptocurrencies are inherently difficult to value as their price is highly volatile. As the price of cryptocurrencies can vary wildly within the course of a divorce, although a partner could have built up a substantial crypto fortune when filing for divorce, it may have diminished by the time of settlement and vice versa.
Experts can be instructed to ensure that the valuation used within the divorce settlement negotiations is fair and impartial. This is vital for both sides as an inaccurate valuation will lead to an unfair settlement.
Cryptocurrencies should not be dismissed within settlement negotiations and they are assets of which the Court has the power to transfer ownership in divorce.
Related FAQs
You can rotate staff on furlough or flexible furlough.
One option is to make it clear in the letter agreeing to being furloughed that there is an open ended right to rotate and to be able to take them off furlough and bring them back and put them back on.
So the employer reserves the ability to rotate by building into the agreement, but only exercises it if it is permissible.
Rotation is quite key for employers who need to make a temporary reduction to their overheads but want to retain the skills base to call back when work picks up. Having furloughed staff return on a part-time basis may reduce the need to rotate.
It also helps in the employer being able to show that they are treating the workforce as fairly as possible and everyone is taking a reduction. Get in touch if you need help preparing the documentation for furlough that will permit rotation or flexible furlough.
Read more about flexible furlough and how this can be used as part of the CJRS.
The golden thread requirements will be retrospective, so will apply to existing buildings as well as new build. This is part of the reason for the Building Safety Regulator’s ‘get to know your building’ guidance referred to in the talk, with the link in the Powerpoint presentation. While the details of the golden thread requirement are still to be confirmed, now is a good time to start to gather as much information as can be obtained about existing buildings as possible in preparation. The Government guidance anticipates that the Principal Accountable Person will be responsible for developing and coordinating the golden thread for existing buildings.
Parental alienation is where one parent adversely influences their child in a way that causes the child to develop hostile feelings towards the other parent for no valid reason.
Examples of behaviour that can lead to parental alienation can range from frowning or ignoring the child whenever the other parent is mentioned, to one parent bad mouthing the other parent. Behaviour that can cause parental alienation is in essence, anything that causes the child to perceive the other parent in a negative light, such as one parent encouraging the child to be disrespectful towards or behave badly towards the other parent, lying to the child to make the other parent appear in a negative light or not passing on telephone messages or gifts.
It should be noted that the court has absolute discretion to make any order it sees as necessary when considering the arrangements for children and therefore if the court determines that there has been parental alienation it can make an order to alter the amount of time that the child spends with each parent, or it can in exceptional cases make an order changing which parent the child lives with.
Individual contractors who are not operating via an intermediary (eg sole traders) do not need to be assessed under IR35. However, you will always have the risk with those individuals that there is no intermediary – therefore if their tax status is wrong, HMRC are very likely to consider that responsibility for this would fall on the hiring company in any event.
You may be concerned that a family member or friend did not understand what they were doing when they made their Will. The legal test for whether or not a testator had sufficient mental capacity to make a Will requires that:
- They understand the nature of the act of making a Will and its effect – in other words, that he or she understands that they are setting out how they wish for their estate to be distributed upon their death;
- The size of their estate;
- The individuals in respect of which they are morally bound to provide for and any consequences of not providing for these individuals; and
- That they are not suffering from any disorder of the mind which may effectively poison their feelings toward people who may otherwise expect to benefit from the estate.
The process of analysing whether or not a testator did lack the mental capacity to make a Will involves consideration of the evidence of the solicitor or Will maker involved in the preparation of the Will, the testator’s medical records and the witness evidence of other people who were involved in the testator’s life.