Financial matters
10.The parents have provided evidence of their combined financial resources. The mother is the higher earner. She works in the finance industry. She currently has a basic salary of around £260,000pa although annual bonuses have meant that her total remuneration has averaged c£340,000pa in recent years. In addition, she received a very large one-off bonus in 2019 but this means that she is now unlikely to receive any further significant bonuses for some years. Her employer has a US presence (although it does not have an office in Boston) and it has agreed that she can continue to perform the same role if she moves to the USA. Her evidence is that she will be able to work from home. Her witness statement indicated that her financial package would remain the same, although in oral evidence she suggested that it would increase. As I explain below, the issues surrounding relocation and these proceedings have meant that the mother is struggling to cope and has been on medical leave from work since March of this year.11.The father earns around £150,000pa. He works in the technology sector and his current job is based in London. The mother’s employer has indicated a willingness to assist the father in finding a role in the USA, but as the father observed in his evidence, his expertise is in a different sector and it is unclear what assistance it could in fact provide.12.The Mother has around £900,000 in savings. Of this some £350,000 is earmarked to meet a potential liability to the US government, leaving her with around £550,000 in available funds. The father has around £400,0000 net in assets, including a property which he purchased before his relationship with the mother began and which currently has equity of c£230,000. The matrimonial home was purchased jointly (although with unequal contributions). It is worth between £1.2 and £1.3M and has equity of around £340,000. The total assets available to both parties are therefore in the region of £1.3M.
- INTRODUCTION
- The parents and children
- Financial matters
- The wider family context
- The parties as witnesses
- The parents’ psychiatric health
- The parties’ wishes about relocation
- The CAFCASS Analysis
- VB and EB may experience less of an impact if they are not in contact with him daily
- LEGAL PRINCIPLES
- Re F
- Re C (Internal Relocation)
- Re C (Internal Relocation)
- Re C
- ANALYSIS
- The Mother’s proposal
- The father’s proposal
- The father’s position if relocation is permitted
- manage
- Conclusion
