Upon divorce, financial matters need consideration to ensure that marital assets are divided fairly. How matters will be resolved will be dependant upon the facts and circumstances of each individual case.
When looking at financial matters, all circumstances of the case are considered, giving first consideration to the welfare of any children under the age of 18. In particular the court has regard to the following matters, known as s25 factors (s25 Matrimonial Causes Act): -
a) The income, earning capacity, property and other financial resources of the parties;
b) The financial needs, obligations and responsibilities of each party;
c) The standard of living enjoyed by the family before the breakdown of the marriage;
d) The ages of each spouse and the duration of the marriage;
e) Any physical or mental disabilities of each spouse;
f) The contributions which each spouse has made or is likely to make in the foreseeable future as to the welfare of the family;
g) The conduct of each spouse;
h) The value to each spouse of any benefits which one spouse because of the divorce would lose the chance of acquiring (most usually pension provision).
The aim is to achieve fairness. Often a key factor is the reasonable needs of you and your spouse and any dependant children.
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