Divorce 80 20 Asset Split

There is a common misconception that if you divorce then the split of family assets will always be 50:50.

That isn’t always correct. You may get more; or you may get less. A family solicitor can advise you on your divorce rights and help you negotiate the most suitable financial settlement for your circumstances.

Initial Discussion  

For an initial free discussion and a no-obligation quote, get in touch with us today by simply calling us on 01234 343134 or email us at enquiries@fullersfamilylaw.com and a member of our team will get back to you. 

Divorce 80 20 Asset Split

In some cases, a court may decide that an individual should get more than half the family assets, even  an 80 20 asset split. The point is that the court will want to make an order that is fair in the circumstances of both parties. The family court decides on the asset split and financial court order by looking at the statutory factors contained in Section 25 of the Matrimonial Causes Act 1973. These factors include:

• The welfare of any children under the age of 18 – this is given first consideration
• The age of the husband and wife or civil partners
• The length of the marriage
• Any disability that either individual suffers from
• Financial needs
• Financial obligations and responsibilities
• Income and future earning capacity
• Property and other financial resources parties have or are likely to have in the future
• Standard of living enjoyed by the family before the breakdown of the marriage
• Contributions to the marriage

Our solicitors offer fixed price consultations to help you understand the range of orders that a court can make when asked to make a financial court order.

Which Assets are Included in a Divorce Settlement?

Assets and property acquired or built up during the marriage are likely to be classed as family assets that form part of the ‘matrimonial pot’ available for division. Family assets can include:

• The family home
• A holiday home or buy to let property portfolio
• Business assets such as shares in a family company
• Pensions
• Savings and investments

Other assets may or may not be classed as family assets, such as an inheritance or shares in a family business that were acquired before the start of a relationship. Even if an asset is not classed as a family asset, the court can order that the other party gets a greater share of the family wealth if the court considers that it is necessary to use non-family assets to meet needs.

It is important to understand whether all your assets will be considered family assets and how the court will look at your needs and those of your spouse.

Valuing Assets for Your Divorce Settlement

Whether are worried about your financial situation or would like an equal split, it is crucial that assets are valued properly to help you achieve a fair financial settlement. For example, the value placed on a pension or on non-listed shares in a family business may not accurately reflect the real value of the asset. You may, therefore, think you are getting an equal split or even 80% but the reality is that you are getting a lot less because the assets haven’t been accurately valued.

A family law solicitor can advise you on the various ways of valuing different asset classes, such as non-listed shares, so your financial settlement accurately reflects the value of all the family wealth.

How Can Fullers Help?

For a free initial discussion and a no-obligation quote, get in touch with us today by simply calling us on 01234 343134, filling in the contact form below, or emailing us at enquiries@fullersfamilylaw.com and a member of our team will get back to you.

 

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