Sorting out the finances on divorce can be the most difficult part of marital breakdown to resolve.
Over time, the family Court’s approach to determining financial matters in divorce has evolved. To achieve a just outcome, the court takes into account the section 25 factors in the Matrimonial Causes Act 1973, and is guided by three main principles: sharing, needs, and compensation. Each case varies in its circumstances, but the landmark judgment in White v White prioritised fairness in dividing finances post-divorce and ended discrimination based on roles as money-earner or homemaker.
These three principles are interconnected and guide the judge in reaching a fair and equitable settlement. Among them, ’needs’ holds particular significance as a paramount consideration in the pursuit of fairness.
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If you’re considering or going through a divorce and want to know more about the guiding principles of the courts, click below for a free initial consultation with one of our expert divorce solicitors.
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