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The starting point when considering finances on divorce is an equal division of capital and marital assets. However, there are a number of reasons which can displace this starting point.
These are known as the ‘section 25 factors’ found in section 25 of the Matrimonial Causes Act.
One of the most common reasons to depart from equality is any minor children of the marriage; as the court will always give first consideration to the needs of any child involved. It follows that the parent with whom the child will live may need a larger share of the capital in order to sufficiently rehouse.
However the court will consider ‘all the circumstances of the case’ when making their decision and each case will have different arguments as to why a departure from equality should be made. If equality is departed from, the court will conduct an assessment whether this departure is fair and justified.
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If you have any further questions regarding divorce proceedings, please do not hesitate to contact our expert Family Lawyers. We have offices based in Wolverhampton and Cradley Heath and serve clients across the West Midlands and Black Country including Stourbridge, Wolverhampton and Birmingham. If you complete our online enquiry form, a member of our team will contact you for an initial discussion.
Alternatively contact Mark Vandaele, Head of Family Law, on 01902 796930 (mvandaele@georgegreen.co.uk)