Will I get a fair share on divorce?
When a marriage breaks down, it is highly emotional and stressful time for the two parties involved but also any children and their close relatives.
There is anger and mistrust in most cases which can take some time to subside.
It is often said “I just want my fair share” or “I only want to be fair”. However one person’s perception of what is fair might be completely different to another’s.
The law sets some guidelines and parameters by which lawyers and if necessary the Courts will determine how to divide the assets on a break-up. The starting point is that there should be an equal division of the assets which include property, cash, pensions, interests in business, life policies and investments, contents of homes and personal possess ions including jewellery .
However, from that starting point some people may decide that there are reasons why they should divert from that equal division.
In considering that question they need to look at what assets each party brought to the marriage and the length of the marriage. The longer the couple are married, the more their individual assets become merged and should be treated as joint.
People should always consider the needs of any children, the ages of the parties, the contributions that each have made not just in financial terms to the marriage. They need to consider the extent of the assets and the needs of the respective parties.
Conduct of either party is not taken into account except in the most extreme cases.
Once a schedule of all the assets has been compiled this principal is then applied to decide what a fair share is. Our Info-Burst takes you through what is considered when looking at financial matters.
This process can be pretty straight forward with minimal disruption to all concerned when handled correctly. Call us and let our matrimonial experts help you with any of your queries or concerns. – 01274 848 800