What is the usual financial split in a divorce?
What is the usual financial split in a divorce?
The Court will normally consider a 50/50 split of the matrimonial assets when dealing with a long marriage following the ‘yardstick of equality’. With short marriages, capital contributions become more relevant in deciding how assets are divided in a divorce. Age is also an important consideration.
How are assets divided in a divorce settlement?
Their marriage is a medium-term marriage where spousal support and an unequal division of marital property may be considered. Divorce Settlement: The marital assets are split 60/40 in Karen’s favor. There is no spousal support or child support. Joseph and Karen both have high-paying careers.
How does the length of marriage affect the divorce settlement?
The starting point is a 50:50 split of the matrimonial pot. The longer a marriage has lasted, the more likely it is that a court will decide that all assets need to be equally split between the divorcing parties, irrespective of where these assets came from.
What are some examples of a fair divorce settlement?
They agree to split 50/50 any expense of sending their children to college and all extracurricular activities while the children are still in primary school. There is a 60/40 division of marital assets in Claire’s favor and she is awarded short-term, rehabilitative spousal support for two years.
What’s the divorce settlement for Ken and Jan?
Marital Profile: Ken and Jan have been married for five years and have no children. They both entered into the marriage with established careers, earning similar salaries. Divorce Settlement: The marital assets are split 50/50 between the spouses. There is no spousal support or child support.
Their marriage is a medium-term marriage where spousal support and an unequal division of marital property may be considered. Divorce Settlement: The marital assets are split 60/40 in Karen’s favor. There is no spousal support or child support. Joseph and Karen both have high-paying careers.
They agree to split 50/50 any expense of sending their children to college and all extracurricular activities while the children are still in primary school. There is a 60/40 division of marital assets in Claire’s favor and she is awarded short-term, rehabilitative spousal support for two years.
Marital Profile: Ken and Jan have been married for five years and have no children. They both entered into the marriage with established careers, earning similar salaries. Divorce Settlement: The marital assets are split 50/50 between the spouses. There is no spousal support or child support.
What does equal mean in a divorce settlement?
When negotiating a divorce settlement it’s imperative that you understand that “equal” doesn’t mean a 50/50 split. Equal means what is fair to both parties involved. You won’t get everything you believe you are entitled to and, you will need to be able to compromise for the sake of all involved.