Whilst it is too soon to know the full consequences of Britain’s decision to leave the European Union, the outcome of the referendum has inevitably resulted in a lot of uncertainty. At present, we do not anticipate any immediate change in family law as a result. However the decision has already had an impact in areas such as the financial and currency markets, which can be relevant in the context of family proceedings. For those considering or already proceeding with a separation, there are some issues to consider as a result of the Brexit vote.
For those who are currently in financial negotiations in the context of a separation, it is advisable to consider any offers which are already on the table. This is because the overall effect of these offers may change or have already changed as a result of the volatility in the financial markets, the reduced currency value or other effects of the referendum.
In some circumstances, the value of assets may change significantly due to the referendum decision. Matters to consider in particular are property valuations, shares and any assets held or valued in a different currency.
Finally, the law which determines where divorce and financial proceedings can take place in circumstances where either party has connections with more than one European country is derived from European law. This means that the extent to which it will continue to apply in the longer term is uncertain. We do not expect anything to change regarding this in the immediate future. However we would advise that if contemplating divorce/dissolution, where there are connections to another European country, that you should seek legal advice as to your position and whether it is necessary to issue proceedings to secure England as the jurisdiction in which this would take place.
How can we help?
Russell-Cooke has a specialist family team who can advise and represent you. Please contact us if you would like more information.