Factors Affecting Settlement
When looking to finalize a settlement the Court must give first consideration to any children of the family as they will need accommodation during their minority and a comfortable lifestyle if at all possible.
The starting point is to look at an equal division of the wealth but this is not always the case. Circumstances can shift the division either way, this includes; factors such as inheritance, extra contributions, accumulations of wealth after separation and most importantly each party’s needs.
After looking at the above the Court considers the following:
• The duration of the marriage.
• The ages of the parties.
• The earning capacity of each party – both now and in the future.
• The accommodation needs of each party and any children.
• The monthly needs of each party and any children.
• Any physical or mental disabilities.
• Contributions made by each party to date or to be made in the future.
• The conduct of each party within proceedings.
The Courts also try to achieve a clean break wherever possible or limit any financial duties that one party should have to the other by imposing an order for a limited period of time. However this is not always achieved.
For more extensive advice, please do not hesitate to attend an initial consultation, or email us, or telephone us.