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Family finances

Whether you are applying for a divorce, judicial separation, dissolution order or nullity decree, an application can also be made for financial orders. It is important to sort out your family finances and also to end, where possible, any financial ties with your spouse.

The range of orders includes:

  • Maintenance payments
  • Transfer of property rights
  • Lump sum payments
  • Pension sharing orders

The court's first consideration is towards any children of the family who are under the age of 18.

The court must take into account all the circumstances of the case, including but not limited to:

  • Income, earning capacity, property and other financial resources
  • Financial needs, obligations and responsibilities of each party
  • Standard of living enjoyed by the family before the breakdown of the marriage
  • Age of each spouse and the duration of the marriage
  • Any physical or mental disability of each spouse
  • Contributions which each spouse had made, including to the family home and caring for the children
  • Conduct of each spouse and if such conduct would be unfair to disregard
  • Any serious disadvantage caused to one spouse as a result of the marriage ending

The court has a wide discretion on deciding what is fair in the division of assets and it is not always possible to predict the outcome. The court will always try to provide for a clean break where possible and encourages both parties' to reach a financial settlement.

Mediation may be a suitable option for you and we can assist in referring you for this process.

Contact Vina Lad, head of SC Law's family department for further information or to arrange a consultation with them.

 

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