Family lawyers argue that the high-profile Panama Papers leak has lifted public and judicial awareness about spouses who hide wealth offshore during divorce proceedings.
Though the revelation that individuals hide their money in overseas investments to shield it from divorce settlements was no big news to family lawyers, some believe that the press storm surrounding the Panama Papers may lead to a greater number of related claims being properly investigated during divorce proceedings.
‘Any publicity about the problem makes it more likely it will be investigated properly,’ says Nigel Shepherd, a partner at Mills & Reeve and incoming chair of family law group Resolution. ‘When a lawyer is trying to present evidence about this to a judge who is sceptical about the time and money it would take to search for the assets, this publicity will be useful.’
