A divorce case in New Zealand is likely to change the way trusts are constructed, reports the New Zealand Herald.
Melanie Clayton claims she has rights to half of former partner Mark Claytons fortune. Mark has considerable saw-milling interests as well as other assets caught up in a number of companies and trusts.
He argues that the trust assets are not relationship property, and that Melanie is only entitled to the family home and $30,000.
Her valuer says that if her view is upheld, she could be due half the assets at an estimated value of over $28 million.
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The couple separated 10 years ago, following a 17 year marriage. They have already been through the Family Court, High Court and Court of appeal.
The Wellington based case will develop this week.
See the full story here.
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