When it comes to the divorce financial settlement, the court will assess each side’s requiredments on a needs basis starting from a 50/50 split. What each side needs can be vastly different from what they want.
Two examples of when the court may weigh the division of assets in favour of one party include:
Example 1 – Future earnings. This point analyses whether one part sacrificed career progression for the marriage, for example, to look after any children. In this instance, the court will likely compensate for this sacrifice in the financial settlement as the party has less capacity to earn in the future.
Example 2 – Child custody. The parent who is awarded custody of any children will likely receive a higher financial share of assets to protect the children’s wellbeing.
Example 3 – Extreme domestic violence. As highlighted above, if there have been extreme domestic violence cases that caused a lasting injury to one party and, therefore, impacted that parties ability to earn in the future. In this instance, the court may weigh the assets in the victim’s favour to compensate for their future earning loss.
If you have questions regarding the division of the marital assets, please don’t hesitate to contact our solicitors on 020 3007 5500.