At Stowe we know that every client we see is unique. No case is the same as another. As a result, we tailor our service and advice to every case we undertake.

The number of clients we have seen throughout the country enables us to identify what issues certain new clients are likely to have, whether we act for the wife or for the husband and whether the couple are married or not. The finances of those involved in professional sport, such as football, rugby, cricket or athletics, can be particularly challenging.

  • Careers are short. Even then, the most promising or the most successful sportsman can find his or her career suddenly cut short by injury.
  • Earnings can be high, very high in some cases.
  • Remuneration can be very complicated, made up of basic income, bonuses, sponsorships, signing on fees, transfer fees and so on.
  • Financial planning is by no means a regular feature. Pensions often do not figure even though retirement may occur in the early thirties and many have no real idea what the future will hold. For example, will they be able to continue in their chosen sport, in management or administration or an agent. Do they want to do so, do they have the skills that are required
  • Retirement can bring challenges of its own and there is a high level of bankruptcy and depression amongst professional sportsmen and women once their careers have come to an end. Someone earning £100,000 per week now may well be earning very little in five or ten years’ time.

These are just some examples which we as family lawyers have to factor into our advice.

Anything acquired during the marriage could potentially be shared between both parties. It is vital for athletes to know how much money and property they have and when they obtained them. We regularly work alongside financial advisors and accountants to ensure that a clear and accurate picture of the overall financial position is obtained, including details of any pending liabilities such as significant tax bills, and to ensure that a fair settlement is reached.

Against that background, what provision can be made for their future and that of their wives, partners and children? When relationships break down, where are they all going to live and what are they going to live on?

On top of all that, the press are often very keen on obtaining as much information as they can about the private lives of sportsmen and their families. Privacy and confidentiality are both vital and so is the need to move quickly and effectively to curb unwarranted press invasion into private lives.

 

On top of all that, the press are often very keen on obtaining as much information as they can about the private lives of sportsmen and their families. Privacy and confidentiality are both vital and so is the need to move quickly and effectively to curb unwarranted press invasion into private lives.

For those high net worth sports people planning to get married, we would strongly advise them to consider entering into a prenuptial agreement with their partner before they do so. The prenuptial agreement will set out what the financial arrangements will be in the event that the marriage should end in divorce. For those already married, it is possible to enter into a postnuptial agreement which again will set out how the assets will be divided on divorce.

At Stowe Family Law we have the ability, knowledge and experience to deal with all of these problems, quickly and effectively.