Divorce and financial provision: Dividing up the assets
Sorting out the finances on divorce can be the most difficult part of a marriage breakdown to resolve. In England and Wales there are no rules setting out precisely how assets will be divided on a divorce. There are a variety of financial orders that can be made, including maintenance, lump sums, property transfer and pension orders.
The courts have a very wide discretion to redistribute all the assets of the parties taking into consideration “all the circumstances of the case”.
The powers of the court and the factors that the court must take into account are set out in a statute called the Matrimonial Causes Act 1973…
If you are registered and logged in to the site, click on the link below to read the rest of the Winckworth Sherwood briefing. If not, please register or sign in with your details below.
Click on the link above to download briefing.
News from Winckworth Sherwood
News from The Lawyer
Briefings from Winckworth Sherwood
This decision represents a welcome return to the ‘pay for what you use’ principle and strikes a fairer balance between different creditor and expense groups.
Winckworth Sherwood has provided a summary of the Trusts (Capital and Income) Act 2013.