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Divorcing DINKYS may not have to share assets

Divorcing DINKYS may not have to share assets

Dual income couples with no children may no longer have to share assets when divorcing after a landmark ruling.

According to a report in FTAdviser's sister title the Financial Times, an energy trader has won an appeal in London to cut a divorce payment to her ex husband.

Julie Sharp had received millions of pounds in bonuses, and had been ordered by a High Court judge to pay her ex-husband, Robin, who worked in IT, £2.75m from their £5.45m in marital assets after their marriage ended.

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However, she appealed the decision, arguing that they did not pool their finances, and that the bulk of marital assets had been generated by her.

The Court of Appeal cut the award payable to Mr Sharp to £2m, £1m of property assets and £900,000 in cash.

Lord Justice McFarlane ruled that the couple's marriage had been relatively short and that the usual principle of sharing assets did not apply.

The couple, both in their early 40s, married in 2009 and Mrs Sharp filed a divorce petition in 2013.