50-50 Divorce Settlement UK – Is Everything Split 50/50?
July 2023
If you are splitting up from your husband or wife, you may assume that everything will be split 50/50 in your divorce settlement. That is not always the case.
At Fullers Family Law our family law solicitors will advise you on whether you can expect to receive a 50/50 split if you separate and start financial court proceedings.
Taking early specialist legal advice on likely divorce settlements can help you negotiate a financial settlement and obtain an agreed financial court order.
Initial Discussion
This summary provides general information and does not constitute legal advice on any individual circumstances.
For an initial 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.
Who gets a 50/50 Split When They Divorce?
If every separating couple does not get a 50/50 split when they divorce, then which couples do? That isn’t an easy question for a family law solicitor to answer as so much depends on the current financial setup of the relationship, divorce outcome goals and family circumstances.
Family lawyers and the court are often said to start from a notional premise that family assets will be split equally between a husband and wife or civil partners but there are many sound reasons why a 50/50 settlement will not result in a fair divorce financial settlement, and the overall aim is to achieve a fair and reasonable settlement. However, there are no hard and fast rules as it all depends on your circumstances. For example:
- You have been married for a year – you may not think that you will get an equal share of the family assets but the court would count your pre-marriage cohabitation as a long relationship if you moved seamlessly from living together to marriage.
- You have been married for 18 months – you may not think you will get 50% of the family assets because of the length of your marriage but you may get more than half the assets if you have young children and you need more than 50% of the family assets to rehouse yourself and your children.
- You have been married 20 years – you may assume that you will get half the family assets but that may not be the case if you signed a prenuptial agreement or a postnuptial agreement. Alternatively, you may get more than half the family assets if your spouse owns property that is classed as non-matrimonial assets that they are retaining. You may need more than 50% of the family assets to meet your reasonable needs considering the standard of living enjoyed during the marriage.
Our family law solicitors will talk to you and explain the likely financial settlement if you were to make an application to the family court for a financial court order. That advice can help you reach an agreement either through solicitor negotiations or family mediation.
Is it Worth Holding Out for an Equal Split?
Your family law solicitor will want to get the best possible financial settlement for you. That might mean negotiating for over 50% of the family assets if you need more than half the family assets as your financial settlement to meet your reasonable needs.
At Fullers Family Law our team of family law experts will consider:
- Whether all the assets are family assets or if some are non-matrimonial property.If you own property that can be classed as a non-matrimonial asset, then this may be in your best interests as you may be able to ringfence that property so it does not form part of the divorce financial court order.
- Whether all the family assets have been properly valued. If the assets have not been valued, then you may be getting less than half as your financial settlement. For example, if the reality is that a family business or a pension is worth more than the equity in the family home. Our lawyers will look at whether assets should be valued professionally. For example, instructing a forensic accountant to value a business or a pension actuary to value a pension and to advise on pension-sharing options.
- The cost-benefit of starting court proceedings for a financial court order.
Sometimes a party would be better advised to accept a bit less than 50% in negotiations if their needs are met and the costs of taking the issue to court would outweigh the benefit.
If you have questions about whether an equal split of assets is fair, then our family law specialists can help you with constructive advice to assist you in reaching an agreed financial settlement.
How Can Fullers Help?
We understand that finding a solicitor that you feel understands your own specific situation can be a daunting task. So, you can book a free callback with us here.
We have also created a series of fixed-price consultation meetings with a full ‘no questions asked’ money-back guarantee promise.
For an initial 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.
