A marriage of less than five years is generally considered by the family courts to be a short marriage. 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.
However, if assets were owned solely before the marriage they are likely to be retained by the original owner, so if a couple moves into a house owned by the husband before the marriage, the court may deem it unreasonable to split this asset during the divorce settlement.
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.
However, there can be difficulty in this outlook as many couples have long relationships before the marriage, and if they have cohabited for a number of years seamlessly prior to the wedding, the court may well take this into account when ruling on a financial claim.
Where the couple has children, the court will look very differently on the financial claim as it may be deemed that the parent with care should receive more of the available capital as they will be unable go back to full-time work so readily.
Plus, when the spouses are young the court may consider them more readily able to borrow money and a young ex-husband may be ordered to transfer the ownership of the family home to his former wife, so that she may bring up the children there, while he finance the purchase of another property by raising capital against the mortgage.
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.
To contact a member of the family law team in Chichester or Bognor Regis, please select from the staff contact details as featured on the right-hand side of this page.