The High Court set financial terms in a judicial separation case involving an anonymised wife and husband, including monthly maintenance, pension adjustments and the division of proceeds from the sale of their family home.
The judgment was delivered by Mr Justice Henry Abbott on 24 May 2012. The court said a judicial separation order had already been made after approving the sale of the home, subject to further provision. The case concerned a marriage and three dependent children. The youngest child’s custody arrangements were to remain as previously ordered.
The home sold for €950,000. After the mortgage and sale costs, the wife received €500,000 and the husband received an estimated €340,000; the judgment said both had received those sums. The husband was ordered to pay €1,500 a month, comprising €400 for the youngest daughter and an amount for the wife calculated so that she would receive €1,100 a month net of tax and other deductions. He was also required to maintain health insurance for her.
The court ordered pension adjustments in the wife’s favour at 99% to 1% for specified pension plans. It also ordered the husband to assign his interest in any life assurance policies available to secure maintenance until age 65. If no such policy was available, the wife could apply for an alternative security order.
The judge declined the wife’s request for a shareholding in the husband’s family business or related assets. He described the business wealth as partly inherited and partly generated through a family business, and concluded that transferring shares could be impractical and destabilising. The court confined provision to accommodation, maintenance and pension considerations, while noting that the order was not a full and final settlement.
The judgment said neither party was barred from seeking a maintenance variation solely because the wife took employment or S. Ltd.’s profits increased for three years. It also left intact each party’s share in the other’s estate. The proceedings were adjourned to finalise pension adjustment orders and calculate the gross maintenance needed to produce the specified net payment to the wife. The court made no order as to costs.