A marriage of less than five years is generally considered by the family courts to be a short marriage. It is worthy of note that when a couple has cohabited prior to marriage the duration of that relationship will also be taken into account. Where a couple’s relationship encompasses a short period of time, and there are no children, the family courts will generally consider a 50/50 split of all assets accrued during the relationship to be a suitable division.
Where both parties brought similar wealth to the marriage, had similar income levels and there were no children, the court’s aim is to simply restore them both to the financial level they were at before the marriage.
A Clean Break Settlement is deemed most appropriate for short marriage divorce so as to ensure no party to the marriage has any further financial duty to the other spouse once the ruling is ordered.
One aspect which is not entirely straight forward is the home in which the family have lived during the relationship. Even if the property is in one party’s sole name it may have to be shared with the other party. The court generally treats the family home differently to other pre-acquired assets.
Overall the court will still want to ensure parties can meet their needs, therefore is one party is in a much stronger financial position it is likely there will be some adjustment in favour of the financially weaker party.
Where there are children of the family the needs of the children will be the first consideration of the court. In cases where there is insufficient money to meet needs or only enough money to meet needs arguments about pre-acquired assets which have no significance.
Whatever the length of your marriage or civil-partnership if the time has come to dissolve the union, you will need the expertise of family lawyers such as the team at George Ide.
Each divorce is individual, and any negotiation and final settlement agreement should be carefully considered as once the court makes its ruling, the terms may be very difficult, or even impossible, to vary.
At George Ide, we help to ensure that our client’s interests, and those of their dependents, are maintained at all times when considering a financial settlement on divorce. We look at each client’s circumstances on their own merit and offer astute and experienced legal advice on how best to proceed.
Contact a member of the family law team in Chichester.