The Court looks at three main elements when dividing parties’ finances: capital, income, and pension. The starting point for division of capital is 50/50, but this can be deviated from according to a wide range of factors such as needs, resources, children, length of the marriage, contributions etc.
For income, the Court considers both parties’ reasonable monthly outgoings and whether there is any deficit between their income and outgoings, and if so, whether any spousal maintenance could be payable and the appropriate amount and term that maintenance should be payable for.
Finally, in respect of pensions, the Courts tend to deal with any pensions accrued during the relationship by looking to achieve equality of income in retirement and we’re fortunate to work with experienced actuaries who can assess the appropriate calculations for our clients in those circumstances.