How Are Assets Split In Divorce?
A Fair Settlement
The Court’s obligation is to impose a fair settlement upon the spouses in the event of a divorce.
It also needs to take into account, and in fact this is its primary obligation, the interests of the children when deciding who should have what from the divorce.
There are 8 primary factors to be taken into account as follows:
- The financial resources of each of the parties to the marriage.
- The financial needs, obligations and responsibilities of each of the parties to the marriage.
- The standard of living of the family before the breakdown of the marriage.
- The ages of the parties to the marriage and the duration of the marriage.
- Any physical or mental disability of either one of the parties to the marriage.
- The contributions which each of the parties has made or is likely to make to the welfare of the family.
- The conduct of each of the parties if that conduct is such that it would in the opinion of the court be wrong to disregard it.
- The value of each of the parties to the marriage of any benefit which by reason of the divorce, that party will lose the chance of acquiring e.g. a spouses pension.