Unsure what property, income, or support you’ll receive if you decide to start divorce proceedings against your husband?
At Freeman Jones, we’ve seen first-hand the positive impact that building knowledge around the divorce process can have.
From helping to manage expectations to alleviating stress and anxiety and supporting a more amicable approach, understanding what you could be entitled to is essential to a smoother, less-problematic divorce.
Fortunately, our expert legal team has supported countless individuals and couples to achieve a fair and equitable financial settlement (a legal agreement that stipulates the distribution of assets and financial support) as part of their divorce proceedings.
To learn more about what you could be entitled to, simply speak to our helpful team of specialist family law solicitors today.
Is my partner entitled to 50% in a divorce?
Contrary to popular belief, a 50 per cent split of combined assets is not automatically guaranteed in a divorce.
While 50/50 can be the starting point, the specific needs and circumstances of each party will always be taken into account, with a view to making division of assets as fair as possible.
As a result, there’s no rigid rules courts must follow for determining the split of assets in a divorce. Instead, these decisions are made on a case-by-case basis.
What am I entitled to from my husband in a divorce?
Regardless of whether you’re considering divorcing your husband or wife, the exact amount you’ll be entitled to from your spouse will depend on some key factors, such as:
Financial circumstances
The total value of property and savings that have been accumulated during the marriage are some of the most obvious financial circumstances to consider in a divorce.
However, many other financial factors also need to be taken into account to ensure a far division of assets, such as investments, pensions, and even debts.
To support the creation of a fair financial settlement, both parties are legally required to provide full and accurate details of their financial situation (including their income, assets, and debts) by completing a financial order (Form E).
The basic needs of both parties
Each spouse will also have their individual reasonable needs with regards to their housing, living expenses, and child support, if applicable.
The court must ensure that these basic needs are met before dividing any surplus assets.
Length of the marriage and contributions
The length of the marriage and the contributions of each party can also play a significant role in determining what each person is entitled to in a divorce.
For shorter marriages, courts tend to favour a ‘clean break’ arrangement (especially where no children are involved) where assets are divided and less ongoing support is necessary.
Longer marriages (lasting more than 10 years), on the other hand, often involve provision for future maintenance and can be more complex as the couple’s assets become intertwined.
For spouses that are concerned about sacrificing their career to support their partner, it’s important to understand that both financial and non-financial contributions are taken into account. This includes contributions like childcare, managing the household, and carrying out home improvements.
Which assets are you entitled to in a divorce?
Unsure exactly which assets are taken into consideration when getting a divorce?
A divorcing couple’s assets can typically be split into one of two categories: matrimonial assets and non-matrimonial assets.
While matrimonial assets refer to the various items acquired during the marriage, assets acquired before the marriage or received as gifts are generally considered non-matrimonial.
To help you gain a clearer idea of what you could be entitled to as part of your divorce, we take a closer look at which assets are typically classed as matrimonial and non-matrimonial in more detail below!
Matrimonial assets
Matrimonial assets are typically included in a divorce settlement because they cover a wide range of assets that have been acquired during the marriage.
This tends to include everything from property, pensions and shared belongings (such as furniture and electricals) to vehicles, investments, and savings.
A common misconception is that these assets, as matrimonial assets, should be automatically split 50/50 as this would be the ‘fairest’ approach, but this isn’t always the case.
For example, if one spouse earns significantly more than the other, especially if the lower-wage spouse sacrificed their career to raise children, they could be entitled to a greater share of these assets.
Similarly, if one spouse has a pension of significant value, the fairest solution may be to implement a pension sharing order where a portion of that pension is given to the other spouse who may have a substantially lower-value pension or no pension at all.
Non-matrimonial assets
When it comes to dividing assets as part of your divorce, it’s important to bear in mind that non-matrimonial assets are typically not included in the financial settlement.
Examples of non-matrimonial assets include gifts that were specifically intended to be received by just one spouse, separate business interests owned by one spouse prior to the marriage, and assets acquired by one spouse post-separation.
In some cases, however, the court may include non-matrimonial assets in a divorce financial settlement if they believe that this decision will support a fairer outcome.
This decision is often necessary if one party’s reasonable financial needs aren’t being met through the division of the couple’s matrimonial assets.
Find out what you could be entitled to
Need specialist help understanding what you could be entitled to if you choose to divorce your husband?
At Freeman Jones, we provide no-obligation, 20-minute initial consultations where you can receive free legal advice over the phone.
Alternatively, if you’re ready to initiate divorce proceedings against your husband, then it’s important to get comprehensive and tailored legal advice as soon as possible.
With our expert team on your side, you’ll benefit from fixed and transparent legal fees (that means no hidden charges!) and a client-focused team of specialist family law professionals.
Well-versed in everything from the drafting of financial settlements and child arrangement orders (CAOs) to mediation and even court representation, we provide practical and effective solutions to a wide range of issues that can arise during divorce.
To start the conversation about what could be included in your divorce financial settlement, please don’t hesitate to speak to a member of our team on 01244 506 444.
You can also register your interest in our divorce and family law legal services via email at info@fjsolicitors.co.uk or get in touch using our convenient online contact form.
