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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 2739
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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If my marriage were to breakdown (not that i think it will)

Customer Question

If my marriage were to breakdown (not that i think it will) how would assets be split with out any official other agreements in place. Is UK law 50:50 or is it a case by case scenario? My parents who are not English and not familiar with UK law would like me to clarify this point. Many thanks in advance.
Submitted: 11 months ago.
Category: Law
Expert:  Harris replied 11 months ago.

Hi, thank you for your question. Just a bit more information required to fully assist you:
-Are you in England or Wales?
-How old are you both?
-How long have you been married?
-Do you have any children together, if so their ages?
-What assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?

Customer: replied 11 months ago.
England & Wales. In our 40's married over 10 years with 2 children 13 and 11. All assets are joint. Income varies.
My key question is really if UK law is not a standard 50:50 split in case of separation what documentation would I need to complete to make it so.
Expert:  Harris replied 11 months ago.

Thanks for confirming. In England and Wales, the Court's starting point is a 50-50 split of all matrimonial assets and ensuring that both your needs (and the needs of any minor children) are met in relation to both assets and income. The criteria considered is:

1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;
2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
3. The standard of living enjoyed by the family before the breakdown of the marriage;
4. The age of each party to the marriage and the duration of the marriage;
5. Any physical or mental disability of either of the parties to the marriage;
6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;
7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;
8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.

If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you

Expert:  Harris replied 11 months ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.