In this article, we will explain how the court works out how to divide a couple’s finances upon divorce, so that you can begin to get an idea of what a fair financial settlement may look like.
Before explaining how the court decides how to split a couple’s finances, it’s important to start the article by saying that it is highly advisable that you seek independent legal advice suited to your individual circumstances from a solicitor experienced in this area of law, such as Austin Kemp.
The answer to the question, ‘what am I entitled to if I divorce my husband?’, really depends on your circumstances.
There is no ‘one size fits all’ answer to the question, ‘what am I entitled to if I divorce my husband?’.
Generally, the court will equally share, between the two spouses, everything earned during the marriage.
However, this is only the starting point and the court may decide that this may not be appropriate in some circumstances, such as if one party made an overwhelming contribution.
When making its decision about the division of a couples’ assets, the court will take into account the needs of both parties.
The needs of any children will always be of the utmost importance.
The court will always try to ensure that the needs of both parties and the children are met. What the court will order will largely depend on your and your family’s circumstances.
If possible, a divorcing couple should try to reach an agreement about how their finances should be split, before involving the courts. This is because asking a court to decide how to divide finances upon divorce can be a lengthy and costly process. However, this will not always be possible (or advisable) and it’s important to have a solicitor who will work with you to achieve a fair financial settlement, at the same time as preparing to go to court, if necessary.
So, what am I entitled to if I divorce my husband? There is no simple answer, as it depends on a wide range of factors, including what assets you have, how much you both earn (and potential future earnings) and how long you have been married.
Book an appointment to speak to a solicitor to find out what you may be entitled to if you divorce your husband.
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