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High Net Worth Divorces
Financial Provision Calculation
- The income and capital resources available (existing or reasonably foreseeable in the future)
- Financial needs, including:
- The ages of the parties and the period they have been married;
- The standard of living enjoyed by the parties; and
- Any disabilities.
- Further factors are:
- In exceptional circumstances, the conduct of a party;
- The contributions made by each party; and
- Any benefits a party will lose because of the divorce.
The starting point will be 50% - 50% split. This is appropriate where the assets provide sufficiently for the parties and children. In some circumstances, unequal division may be necessary, and the parties can argue as to why they consider that a greater share of the assets should be received by them. If possible, the Court will try to achieve a clean break, so the parties are not financially reliant on each other in the future. The types of Orders that can be applied for are:
- Maintenance Pending Suit: This order is an interim order for your ex-partner to make regular payments to you whilst the financial proceedings are on-going.
- Legal services Order: This order can be where the Court order your ex-partner to pay money towards your legal costs.
- Maintenance Payments: This order would require your partner to make regular payments for a fixed period or on an on-going basis.
- Lump Sum Payments: This order would grant a lump sum payment from your ex-partner which would be payable together or in installments.
- Property Adjustment Orders: This order can include orders to sell, transfer or settle in trust the property for you or your children’s benefit.
- Compensation for loss of Pension Rights/Orders – This order can include a sharing or attachment order for entitlements.
- Child Maintenance: This order can be for periodical payments for the maintenance of the child.
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