In what has been described as a ‘landmark decision’, judges at the Appeal Court in London have upheld a man’s appeal against the requirement to pay life-long maintenance to his ex-wife, reports the Daily Mail.
Kim and William Waggott separated in 2012 after 21 years of marriage, and had one child together. At a divorce hearing in 2014, Mrs Waggott was awarded around £10 million in cash and assets plus annual maintenance payments from her ex-husband of £175,000, which were to be payable for life.
She was not happy with this settlement and subsequently went back to court to try and get her annual payments increased by £23,000.
However, her husband lodged an appeal against the original decision, claiming that the court had been wrong to award his ex-wife life-long payments. He argued that this meant there was no financial motivation for her to ever return to work, whereas he would have to continue to work hard in a demanding job.
The Appeal Court judges have now found in Mr Waggott’s favour, ruling that the annual maintenance payments should only be paid for three more years so as to allow Mr Waggott to achieve a ‘clean break’ from his former wife.
Lord Justice Moylan said that if Mrs Waggott invested part of her settlement she should be able to live off the interest, and if this didn’t provide sufficient income she was capable of finding employment and earning additional income.
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