Will I lose my assets if I divorce my spouse?
There is a misconception in divorce cases that you will lose half of your...- 20 November 2024
Posted: 24 July 2023
Section 25 is a crucial provision which empowers the Court to examine and make Orders for the financial provision of the parties of a marriage who are divorcing. It focuses on the fair distribution of matrimonial assets. The Court has a wide discretion to make Orders that it considers appropriate and fair whilst having regard to all the circumstances of the case.
Although the Court will carefully consider the circumstances of each case, primary consideration is given to any child of the family and consequently the parent with care will have priority over the non-caring parent. However, the Court also pays close attention to the parties’ income capacity, financial needs, ages, health, duration of the marriage, standard of living before the breakdown of the marriage and the financial contributions made by each of them. It can in a limited number of cases also consider the conduct of the parties if it would be inequitable to ignore it. After considering all these aspects the Courts objective is to achieve an outcome which is as fair as possible in all the circumstances of the case.
The Court must also consider whether a clean break between the parties is appropriate and if so the terms of that.
Section 25 is a complex provision that requires very careful understanding as it can define the future lives of divorcing couples. It is important for parties to seek early legal advice to ensure that their interests are best protected. S25 is also subject to frequent amendments and updates, as the law evolves to reflect changing social and economic circumstances.
If you need advice about financial remedies or divorce, then contact us on 01245 493 959 to speak with one of our specialist Family team.
- 20 November 2024
- 20 November 2024
- 20 November 2024