What factors does the court take into account when determining a parties ‘matrimonial finances and how they should be divided?
There are various factors the court will take into consideration when making a decision as to financial matters, which include the following:
· The welfare and needs of any minor children of the marriage;
· the income, earning capacity, property and other financial resources which each of the parties has or is likely to have in the foreseeable future;
· the duration of the marriage;
· the financial needs, obligations and responsibilities which each of the parties has or is likely to have in the foreseeable future;
· the standard of living enjoyed by the family before the breakdown of the marriage;
· the ages of the parties;
· any physical or mental disability of either of the parties;
· the contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family- this includes looking after the home or caring for the family;
· the conduct of each of the parties (this factor is normally only looked upon and considered in exceptional circumstances).
If you have tried to resolve financial matters with your spouse, but have been unable to reach agreement then do get in touch and I can provide you with advice as to the next route for you to take.