Relevant considerations include:
• The welfare of any children whilst they are still minors,
i.e. they have not yet reached the age of eighteen
• The actual income and earning capacity of each party
• The standard of living during the marriage
• The age of each party
• The length of the marriage
• Any physical or mental disability
• The financial needs, obligations and responsibilities which
each of the parties to the marriage has or is likely to have in the
foreseeable future
• Each party’s contribution to the marriage both financial and
by way of homemaking and child care
• The conduct of the parties (if relevant to financial
matters)
The case of White v White (2000) established the cross check of
equality when dealing with matrimonial assets. This was later
followed in the cases of Miller v Miller and McFarlane v McFarlane
(2006) which established the principal of sharing.
Will I get 50% of everything?
If your marriage has lasted for over 15 years and you and your
partner have made equal contributions to the marriage you will
probably each receive 50% of the total assets.
However, if you have young children and the future carer of the
children needs more than 50% to maintain their upbringing, the
court can often award a higher figure. Sometimes the other party’s
share of the assets is postponed until the children have finished
their education. The house can then be sold and the proceeds
divided.
Will I keep the family home?
You are very likely to be able to keep the family home if you
are the carer of any children (under 18). This is provided that the
mortgage or rent can be paid and there is sufficient money to meet
the other needs of the family. As mentioned above, once the
children finish their education, assets may then be sold and
split.
How do we sort out how much child maintenance is
paid?
The provisions for child maintenance have recently changed. The
emphasis now rests on you and your ex partner to reach an agreement
about the level of maintenance to be paid for the children.
Can I expect to receive any extra contribution from my
partner?
If your partner has available income to contribute to the
household over and above child maintenance, the court will often
make an order. The amount depends on what they can afford and
what you need. The order may last as long as until the first
one of you dies or until the children finish education. It may
instead last for a set time period, e.g. 3 years.
What happens to any pension policy?
In the year 2000 the law changed and it is now possible to share
any pensions. The court will make a pension sharing order where it
is necessary to equalise or share each party’s pensions.
What is meant by the term ‘a clean break’?
A clean break is a court order made regarding finances which
brings to an end any ongoing financial relationship between the
separated couple. It is final and cannot be reopened by
either party. Neither party will pay maintenance to the other. The
court will always try to achieve a clean break where possible. It
is beneficial for the both parties not to have continuing financial
links, allowing everyone to focus on the future. However, it is
less likely to be a relevant option in cases involving
children.