When considering how assets should be split, there are various factors which need to be considered which will impact upon the decision. They include:
- Income, earning capacity, property and financial resources the parties has now and in the future;
- Financial needs, obligations and responsibilities either party has now and in the future;
- The standard of living enjoyed by the family;
- The ages of the parties and the length of the marriage;
- Any physical or mental disability of either party;
- The contributions each party has made to the family or is likely to make in the future;
- In exceptional cases, the conduct of either party;
- Any loss either party would suffer as a result of the divorce (usually pension provision);
- Any other relevant circumstances.
Professionals and clients alike need to be mindful of these factors when negotiating a settlement as they are something that a Judge would work through point by point if they were tasked with making the decision.
For anything further, one of our specialists would be delighted to meet you to talk through your options and answer any questions. Please contact us at any time.