We can assist you with your financial arrangements following the end of your relationship. There are no hard and fast rules that determine the division of assets following the end of a relationship. Many jurisdictions ring-fence assets that pre-date a marriage or civil partnership and divide any property bought, earned or acquired during the marriage/partnership on a 50/50% basis. That is not the approach in the UK, meaning that in many cases the apportionment can be more beneficial to one or other of the parties. When the Court is asked to deal with financial matters, the starting point is that the parties have to disclose full details of their assets, property, money and income. First and foremost, consideration will be given to any childrens’ needs. After that the Court looks at what is fair in all the circumstances when it comes to needs of the parties. In practical terms this means considering:
- The age of the parties;
- Whether either has any health issues;
- How long was the marriage/civil partnership?
- What was each person earning? How much could they earn in the future?
- Who will look after the children?
- Should one party maintain the other? How long for?
Getting the right financial deal for you should not be left down to chance. If you require assistance with any aspect of resolving finances after the end of your relationship, please contact our family law solicitors today.