How are assets divided on divorce?
There is no automatic guarantee that assets will be shared equally after a divorce, but often, this is the most appropriate starting point. Section 25 of The Matrimonial Causes Act 1973 provides a statutory framework of the factors which are relevant to how matrimonial assets are divided up on divorce.
Consideration will be given as to whether it is possible to achieve a "clean break" financial settlement, which will prevent either party from making any further future financial claim against the other.
You can find more information about what factors are considered by the courts and how assets are divided on divorce here.
Divorce and Pension Advice
Pensions are often classed as marital assets that are open to claim on divorce.
It is important to receive accurate legal advice from an experienced solicitor in order to avoid losing out on your financial entitlement to a pension. Often, this may involve working closely with a pension actuary or independent financial adviser.
Find out more about Pension sharing on divorce.
Financial provision for unmarried couples
There is no such thing as a common law spouse. Unmarried couples do not have the same rights as married couples. However, financial provision and protection does exist for unmarried couples.
Read more about what steps you can take to claim financial provision for unmarried couples.
Financial Disclosure Process
When you are going through a divorce or judicial separation, you will usually be expected to provide information about your financial position – this is known as the financial disclosure process. This can be completed on a voluntary basis or within court proceedings.
Where there are disputes concerning finances, you will be required to be completely honest throughout the financial disclosure process.
Read more about what documents you might need to submit throughout the financial disclosure process.
What is the Financial Remedy Court Procedure?
Financial remedy aims to resolve the financial issues arising out of any divorce or judicial separation. Section 25 of The Matrimonial Causes Act 1973 provides a statutory framework of the factors which are relevant to how matrimonial assets are divided up on divorce and this will be considered by the court.
Read our step by step guide on the Financial Relief Court Procedure.
Other financial provision services
Our experienced team of family law solicitors can provide a wealth of knowledge and expertise in a range of issues. We will tailor our approach to meet your bespoke needs and provide legal advice throughout your divorce or separation. Other financial provision services we can also advise on include: