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…
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