Ask The Legal Expert - Division of Assets in a Divorce
- AuthorJill Bulteel
My husband and I are considering a divorce. He was the main carer for our children when they were growing up, while I was the primary wage-earner, so I paid off our mortgage, over the years. We own our home jointly, but would I now be entitled to a larger split of our assets because of our different financial roles within the family? Our children are both grown up.
A divorce is always complex and if you have taken up non-traditional roles within your marriage, you might want to see those reflected in any settlement when you split.
However, the key driver when it comes to agreeing upon dividing up your assets should be future need – for both of you – rather than past roles and responsibilities. And, I cannot stress enough, that if you are able to agree upon the division of your assets together, then your divorce will be less punishing for all concerned.
An equal division of all of your assets (including pensions as well as property) is a sensible starting point. If you are struggling to reach an agreement you should take up mediation to help you through the process.
It is very important for anyone contemplating a divorce to seek the advice of a Family Law specialist. Even couples who want to keep things amicable can hit an unexpected impasse or two that threatens to sour things for the whole family. Steady legal guidance from an expert can help you to negotiate these choppy waters. There are also issues that affect the division of assets that you may have overlooked and that must be addressed. Again, a Family Law expert will be attuned to this. If you cannot agree on the details of your divorce settlement, then a Court will decide for you based upon the needs of both parties. Clearly, this creates an added expense for your and it is likely to make the process longer. And, again, The Court will expect you to go through the mediation process.
Divorce is one of the most stressful life events anyone can go through and it is important to seek tailored legal advice on the matter. Our Family team is on hand to help. For more information, please contact Jill on 01443 490880 or by emailing firstname.lastname@example.org.
The question posed is based upon a hypothetical situation.