We have today signed up to a property in Central London, literally 2 minutes from the family court (aka the Principal Registry on High Holborn); and when a makeover has taken place, Stowe Family Law will be opening its third office. In London!!! 

I have always dreamed of working in London. Starting off as I did from the most humble of beginnings, working in an office that was in fact a converted cobbler’s shop in a run down suburb of Leeds, little did I ever think one day it would become a reality! I could have exchanged contracts earlier in the week, but waited until today because today is my late Granny’s birthday. I’ve written before about how much I valued her friendship, her wisdom and unconditional love – and I wanted to honour her memory in this way. 

I was very moved by the compliment that I received this year from Chambers and Partners, in their guide to lawyers that “Marilyn Stowe has built the successful practice and wins excellent results for clients”. 

I actually owe it unreservedly to my team. 

It would not be possible to turn a dream into reality and open an office in London without their help; – we are a team of 19 solicitors plus our trainees, an in house forensic accountancy department and a proficient admin team who all together make up Stowe Family Law. The resources that we have, the experience, the knowledge, and the abilities – yes, I would say that, but believe me, if I wasn’t 100% certain we cut the mustard, I wouldn’t be heading into the lion’s den!

So I’m hoping we will bring some of our “Northern Charm” to the practice of family law in Central London, giving of our all and going the extra mile, in exactly the same way we do now for our clients from our offices in the north and north-west of England.

Have a great weekend and many thanks for all your support.

Marilyn 

Photo credit: andreweick

Speaking to most aspiring lawyers, I get the impression that they seem to think that in order to succeed in the legal profession nowadays you have to work in a big city firm – preferably in London. However, it seems to be those firms who are suffering most as a result of the economic climate. Many are struggling to keep their promises of a training contract to those they have offered them to; instead offering their prospective trainees compensation to begin their training contracts a year later.

I know firsthand the frustration and uncertainty this causes; my other half suffered that same fate. Smaller firms, on the other hand, have dealt with the crisis with more aplomb. They waste less money advertising. The process itself is more flexible without the various application forms, assessment days and interviews, which only provide a shallow glimpse of a person. Perhaps more importantly, they are keeping their promise that when an individual is offered a training contract, it will still be waiting for them when they turn up on their first day.

The process of finding a training contract is a long, drawn out process, dreaded by many. After a while, the rejection letters become hard to take, with some giving up completely. If anyone reading this is in that situation, I would say to you not to give up, but to continue plugging away. Spend time researching firms and if training contracts are not readily advertised, contact firms and make enquiries. If you are an individual who has their heart set on working for a big city firm but are struggling to progress through the application process, perhaps open your mind slightly and consider turning your attentions to the smaller firms.

In my opinion, gaining work experience placements with a smaller firm is one of the best ways of obtaining a training contract. The staff will make an effort to get to know you and you will be treated as a person rather than a number, as is often the case in the big firms. Work experience is an excellent way of making a good impression on the firm and gives them the advantage of seeing you in action in the working environment, rather than just basing their impression of you on a one-off interview.

You may have gathered that again I am speaking from personal experience. During my second year at university I contacted countless firms to offer my services to them in exchange for gaining some invaluable first-hand experience of how a law firm functions day-to-day. Stowe Family Law, which were at that time Grahame Stowe Bateson (Private Client) Family Law Unit, were the first to respond, offering me an interview for a two-week placement at which I was successful. You could say that this was where my career at Stowe Family Law started. I enjoyed the two weeks so much that the following year I returned to complete another two-week placement. During these four weeks I gained invaluable first-hand experience as to how a law firm functions. I was extremely impressed by the extensive caseload of Stowe Family Law and the dedication each member of staff showed to their work.

I was fortunate enough to be offered a training contract with Stowe Family Law and as promised, it was waiting for me on the commencement date. I am looking forward to what I hope will be a long and successful legal career.

In conclusion, a message to all who are searching for a training contract at the moment; do not let the current economic climate deter you from pursuing a legal career, keep contacting firms far and wide, and most importantly, do not be blinded by the bright lights of the big city. It is the smaller firms who are fulfilling their promises of training contracts to prospective trainees, and they are the firms who are more likely to offer you a position of permanent employment at the end of your training.

Fiona is 22 years old. She attended Leeds Girls’ High School before studying Law at Bangor University, obtaining a First Class degree. She studied her LPC at the College of Law, Chester, before joining Stowe Family Law for her training contract.

Now that Brian Myerson’s economic circumstances are transformed, he has tried, and failed, to overturn his original financial agreement.

Robin Charrot writes: Ingrid and Brian Myerson have recently hit the headlines. Brian Myerson is a fund manager who – needless to say – is going through tough times. His former wife Ingrid is a sculptor. Their divorce is at the head of a queue of cases and financial deals completed on the cusp of the world’s financial meltdown, when people like Mr Myerson were still seen as “masters of the universe”. His economic circumstances have since transformed and he wanted to unravel the original deal.

When the deal was agreed, Brian was doing quite well, having accrued assets in the region of £26m. The value of his shares in the company which he ran amounted to £15m. It is not reported what his annual income was, but I would wager that it was more than £1m a year.

Brian and Ingrid were married for 26 years. It was therefore a lengthy marriage, and Ingrid almost certainly had a claim to half of the assets. She may also have had a claim to a substantial part of Bryin’s annual income. I suspect that Ingrid sought financial security, and that Brian expected that his company would continue to make considerable amounts of money. Perhaps he did not like the prospect of having to pay out a significant percentage of his future income to Ingrid.

Capitalisation of maintenance

So this is what they did. Brian handed over to Ingrid the couple’s London home and a property in South Africa. He agreed to hand over a second property in South Africa (but hasn’t done so yet), and also agreed to pay her a lump sum of £9.5m cash, in instalments, over four years. He has already paid £7m of this, so £2.5m remains owing. Brian kept all of the shares in his company. In short, the wife received 47% of the assets and the husband kept 53% of the assets. As part of the deal, Ingrid also agreed to terminate her maintenance claims against Brian; this process is known as ‘capitalisation of maintenance‘.

This must have seemed like a pretty good deal for Brian Myerson at the time: he was left with the riskier assets but his wife kept fewer than 50% of the overall assets and he was poised to keep all of his future income.

What has happened since?

Well, the share price of Brian’s company (and remember, these shares were his only remaining assets, pretty much) has collapsed by 90%. This has left him worse off than his former wife. Furthermore, he still has to find £2.5m cash to give to her. Even if he sold all of his shares in the company, he would still have to borrow money to pay the last lump sum instalment that is due.

So, Brian first asked the courts to vary the payments which he is still due to make to Ingrid and the South African property transfer that he still has to do. That request is yet to be decided, and probably won’t be until July or August 2009. However, he then asked the courts to effectively cancel the original order and start again. If he had won with this, Ingrid would have had to pay money back to him, or even take some of the shares in his company

The Court of Appeal decided on Brian’s second request today, and rejected it. I have to say that that result was entirely predictable. Let me explain:

Overturning an original order due to a change in circumstances

The law generally says that capital deals cannot be changed at a later date due to a change in circumstances. There is only one exception to this rule, namely that if an unforeseen event occurs soon after the settlement, which dramatically alters the landscape of the deal and makes it unworkable, the deal can be changed. This applies to any aspect of a financial settlement, including capital that has already paid over. This kind of event is often referred to as a ‘Barder event‘ after the name of the case in which it first arose.

Brian was saying that the dramatic fall in the share price of his company was just such an event, so why did the Court of Appeal reject Brian’s request to overturn the original order for this reason?

Firstly, there is already 20 years’ worth of court decisions which say that if an asset was taken into account and correctly valued at the time of the original decision, any subsequent change in the value of the asset, however dramatic, will not be a good enough reason to overturn the original decision.

Secondly, the original decision was an agreement between Brian and Ingrid. It was not imposed on them by the court. Brian chose to take the risk of keeping his shares in the company. The court was not impressed with Brian effectively asking them to have another go at the agreement because the risk that he had accepted had in fact turned bad.

Thirdly, the court felt that Brian was still in a position to turn his company’s fortunes around. He is certainly making statements to the press to that effect.

Finally, the court decided that the judge who deals with Brian’s first request, to vary the future payments (which will be dealt with by the court in late summer 2009) would be able to give Brian sufficient relief due to Brian’s change in circumstances, if the judge feels that it would be fair and reasonable for him to do so.

Varying future lump sum instalments

So, how will Brian make out on his first request?

If a capital settlement is structured so that lump sums are payable by future instalments, those future instalments can be varied, suspended or even cancelled if circumstances change. This applies to lump sums that represent a split of the assets of the marriage, and to lump sums that represent the ‘capitalisation’ of spousal maintenance.

Brian may have more luck trying to reduce the future lump sum instalments that are due. Perhaps the court will be persuaded to give him more time to pay, or even to reduce or cancel that £2.5m lump sum. Such a decision will probably depend on his ability – or inability – to raise the money. I am sure that the court would have to look quite closely at his income and his prospects before making any final decision. I think he will have an uphill battle (remember, he took on the risk of keeping his shares) but he has a better chance than with overturning the original deal.

Whatever happens, the very high level of costs incurred by Brian and Ingrid Myerson are an expensive reminder that a divorcing couple should not agree to a financial settlement before its advantages and disadvantages have been carefully assessed.

Stowe Family Law is the UK’s largest specialist family law firm, with offices and divorce solicitors in London, Yorkshire and Cheshire.

With an outstanding national and international reputation, the firm provides a full range of private client family law services. Our divorce solicitors are praised by clients, the media and legal guides for their knowledge and expertise.

Marilyn Stowe and members of the Stowe Family Law team

Meet law student Abigail Black, who is working with us until the autumn. She has already secured a training contract with a major USA law firm based in London; from what I have seen, she will go far.

Abigail was telling me about some of the challenges faced by law students in search of good work placements, and I suggested that she write a “guest blog” about her experiences. We hope that her advice will be of use to other students.

Forget the endless university exams, the demanding coursework and the time-consuming dissertation; one of the biggest challenges facing law students today is working out where to go and what to do after graduation. Faced with an increasingly saturated and competitive legal marketplace, it is becoming more and more difficult for law graduates to make informed decisions about which type of law firm holds the key to that elusive career.

I must admit that until recently, “work experience” was a phrase that struck dread and dismay into my heart. I undertook my first placement after my GCSE exams. Two weeks later, I had established a firm friendship with the photocopier and could recite the tea and coffee preferences of every member of staff – but I had learned little else.

Fast forward a few years and, armed with a 2:1 law degree, I was excited but nervous when the opportunity for work experience at Stowe Family Law arose. My expectations were high – but I feared that, once again, I would find myself left none the wiser at the placement’s end. Fortunately, this hasn’t been the case.

What follows is my own personal guide to gaining the most out of legal work experience. Perhaps my “top tips” can enable other law students to enjoy the same types of opportunities that I have been able to.

1. Research, Be Selective and Do It!

A popular myth amongst law students is that by the time you graduate, you must know exactly what kind of solicitor you want to become. Wrong! However valuable those 9 am Contract Law lectures were, they don’t enable you to make informed career decisions. Your degree provides the academic foundations for a legal career; however, before you begin laying the bricks, it’s a good idea to draw up some plans.

This is where work experience comes in. There is no quick and easy substitute for first-hand experience, so it is imperative that you make the most of every opportunity available to you.

I am not suggesting that you should take out your Yellow Pages and pick a local solicitors’ firm at random. A selective approach, which involves thorough research, is essential.

Following Sir Paul McCartney’s high-profile divorce earlier this year, I decided that family law was an area that I would like to explore in further depth. I applied to Stowe Family Law, because it is a practice regarded amongst the national elite in this area. I researched the firm carefully and read an interview with Marilyn Stowe, who struck me as someone from whom I could learn a great deal. By exploring my options and applying to a firm with an excellent reputation in my chosen area, I could be confident that my work experience placement would be productive.

1. First Appearances Count

The importance of making a good first impression cannot be underestimated. Think long and hard about how you wish to present yourself and the impression that you intend to make upon the firm.

Law firms will not judge you on your fashion sense or your hairstyle, but remember that you are going to be representing that firm to clients. So dress smartly! This will help you to fit in. If you look the part, you will feel the part: it is much better to feel like a prospective trainee solicitor than just another “work experience student.”

Do your utmost to appear confident and enthusiastic. Although nerves are normal when you’re starting at a new place of work, remember that you’re there because you impressed the firm upon application. Now it’s time to show them what you can do!

On my first day at Stowe Family Law, I arrived at the firm’s Harrogate office at 9 am prompt, wearing my smartest outfit. I was slightly nervous, but I took a deep breath and decided to go for it. I reasoned that there was nothing to lose – and absolutely everything to gain. The greeting I received was rather overwhelming. Within minutes I was sitting at my allocated desk, surrounded by the firm’s solicitors and getting stuck into real work. My first day whizzed by. Members of staff were friendly and made an effort to get to know me; they asked me why I wanted to be a solicitor, what my interests were and what my career aspirations were. I did my best to get to grips with how the office functioned.

I’m certain that the welcome I was given had much to do with the way I presented myself. I did my best to show that I was dedicated, professional and ready to learn.

1. Make Yourself Known and You Will Reap the Rewards

You are not there to sit like a shrinking violet behind a desk for two weeks, waiting shyly for someone to approach you and ask you to do something. You are there to learn, and the best way to do that is by getting involved.

By the end of my first week I was completing work for some of the firm’s senior solicitors and I was sitting in on client meetings with Mrs Stowe, taking attendance notes. These responsibilities gave me my first valuable insights into what I will eventually be doing as a trainee solicitor. The experiences served to strengthen my confidence in my approach to my career.

Be the one to offer to help, to contribute to discussions and to ask for work. If you feel that you are are gaining too little from your placement, say so. There is no point in wasting such a valuable opportunity. If nobody knows you are there, how will they be able to keep you in mind when those good opportunities arise? My own experience has taught me that if you are enthusiastic and keen to get stuck in, your colleagues will be more inclined to send good opportunities your way.

I am certain that it is because of this “can do” attitude that I have been able to derive the maximum possible benefits of my work experience placement at Stowe’s. One highlight was when I was asked to accompany two of the firm’s solicitors to London, to meet with a client and one of the country’s top family law barristers. This was a prestigious opportunity, for which I remain extremely grateful.

A second highlight was when I accompanied Mrs Stowe to Manchester, to view the firm’s new office in Hale. We discussed Stowe Family Law’s expansion plans and ambitions, and I gained some useful – and unexpected – insights into legal practice management.

1. Acting Skills Will Take You Far

As much as you’re there to learn about a legal career, you’re also there to get a good idea about the sort of work you would be doing as a prospective trainee solicitor at the firm. Of course, a trainee’s work is not always glamorous. There will probably be times when you must grit your teeth and help out with tasks such as filing, legal research and proofreading. This may not be the most riveting work in the world. However, even the most basic tasks play a vital part in the larger legal process. I encourage you to put those rusty acting skills into use: put on your most convincing smile, show enthusiasm and…happy photocopying!

I have been rather fortunate at Stowe Family Law, in that I have not been asked to complete many routine tasks. However, I think it is important to approach every task on the understanding that the legal profession operates on a “work your way up” basis. Another lesson I have learned is that a small “thank you” can go an awfully long way. Whenever I spent time doing the less exciting work I was always rewarded with a heartfelt “thank you” and that was more than enough to keep me motivated and make me feel appreciated.

1. Questions Will Give You Some Answers

My final piece of advice is to find out as much as you can while you are with the firm. Stopping just short of turning into a young Sherlock Holmes, make sure you ask lots of questions; the answers can only serve to help you in your career. Questions such as “Why did you choose this firm?” and “What do you enjoy about your work?” will give you an inside view of other’s career choices, and may help you to confirm your own thoughts and rationale.

However, you must also remember that you’re trying to impress this firm, so make sure that your questions are intelligent and considered. If you know relatively little about that particular area of law, demonstrate your eagerness to grow and your enthusiasm to learn.

During my first couple of days at Stowe Family Law, I was slightly hesitant to ask too many questions for the fear of becoming the “office pest”.  However, I soon discovered that my new colleagues were receptive to questions – in fact, they expected and encouraged them. I gained a lot by spending time with the firm’s current trainees. As they had recently been students themselves, they could relate to what I was hoping to gain from my placement. One memorable conversation was when I chatted to a trainee about my limited understanding of family law. Within half an hour she had delivered a pile of her old law school text books onto my desk, to help me gain a deeper understanding of the subject! I was overwhelmed by the amount of help and support I was offered from within the firm. By my second week there I had no hesitation in firing questions at any member of staff, including the firm’s principal.

In retrospect, had I not seized the opportunity to ask, discuss and challenge the firm’s staff members about different issues, my work experience would not have been as valuable. I encourage all work experience students to get past that initial hesitance – and to fire out those questions!

Although I have been fortunate to gain a work placement with such a friendly firm, I believe that the principles I have outlined can be applied successfully across various sectors of the legal profession. My time at Stowe Family Law has been a refreshingly steep learning curve – despite my initial nerves – and I don’t doubt that my determination to get the most out of my placement will prove invaluable in the future.

Romance is for life, not just for Valentine’s Day

A reporter from a local newspaper called me to discuss top tips for Valentine’s Day. She wanted to know what a divorce lawyer would recommend to keep a marriage together.

I’ve seen some interesting clients recently, whose experiences enabled me to give an opinion.

The first was a lady in her late 40′s. She was complaining about the breakdown of her marriage which she attributed to her husband. He drinks too much, he is usually down at the pub, he pays her little attention, he always watches TV when he is in the house and they have no sex life. She added as an afterthought that the lack of a sex life was due to her- she is going through the menopause and finds that she has no interest in sex and most especially not with him. She can’t bear the thought of another 30+ years with her husband.

Then a new client experiencing a severe downturn in his business came to tell me how his wife of 20 years had suddenly “prettied herself up” – she started having regular hair and nail appointments, she was buying nice clothes and had lost weight. He knew she was having an affair, and as this clearly very proud man told me about all his problems, to which he could see no way out, he broke down unable to stop his tears.

Another client came to see me who had done more or less the opposite. He had made a lot of money in his business and his wife of 25 years was no longer attractive in any way to him. He claimed she took no interest in her appearance, she was overweight, she had no interesting conversation and she bored him rigid. He wanted out of his marriage because he couldn’t imagine spending the rest of his life with her.

Another client and I were in court last week. As I watched him, and then saw his wife surrounded by her lawyers, I couldn’t see how they had ever been a couple. They looked so completely different.

So with all these people going through crises in their life, to which I am a witness, what positive comments did I make to the reporter?

I started from the basis that at some stage all these couples must have been happy. They must have been in love, must have been sexually attracted to each other and must have enjoyed their relationship sufficiently to marry and have children together. Years later the thrills have gone and for one of them in each of these marriages, they considered the end had come. Yet their spouses did not. They were still anxious to remain together in their marriage.

But in the face of obvious reluctance by one spouse to save their marriage, is it still possible to do so?

I think it is, but I think it’s tough.

It’s too trite simply to say “Try harder” or “Keep your sense of humour” or “Respect each other”

What these individuals are experiencing is a feeling that their marriage has stalled because of its everyday sameness and they hate it. They are living every single day in the same routine with the same inability to get off the constantly turning treadmill and they have no wish to rekindle a flame that had once burned so brightly. Yet their partners all think differently and are prepared to continue their marriage.

That, for me, is the tragedy of marriage breakdown. It doesn’t often happen that both people agree the marriage has broken down and go their separate ways. Often it is happens only to one person and the other has no choice and with greatest possible sadness, but to accept that decision.

So I suggested to the reporter, a positive step for her readers is this;-

Put together a few mantras in your mind and keep repeating them to yourself over and over again.

Tell yourself first the grass is not greener on the other side. All my years of working in divorce suggest that within a few years the same patterns repeat themselves.

Tell yourself: There is a difference between doing right and wrong.

Tell yourself:  You are going to hold your head high and set your family a standard.

Tell yourself: Throwing away an investment of 10, 15 20 years or more, is madness.

Tell yourself: You can’t have everything you want.

Tell yourself: Life is about how you react to a challenge.

Tell yourself: accept what you have, and cherish it.

Tell yourself: value the good that is in your life already.

Not everyone is emotionally strong enough to take the pain for continuing gain. Not everyone is able to see that the ups and downs of the years spent with a spouse, an equal partner in the marriage is worth preserving at whatever cost. Not everyone is able to realise that sometimes what we have only becomes really valuable when we are about to lose it.

Happy Valentine’s Day.