Dividing The Family Assets - How The Courts Decide
When going through a divorce, couples often find one of the hardest things is trying to set up home on a single income. Previously, they had a joint income and joint assets and only one property to maintain.
It is therefore helpful that you are aware of what will be considered and the powers of Courts in making their decisions regarding money and assets.
Although the Child Support Agency (CSA) is responsible for considering where any children will live, one of the main concerns for a Court is keeping the best interests of the children as a priority. Parents can now come to their own financial arrangement. The Courts will then, in every case, also bear in mind the following circumstances, as set out in The Matrimonial Causes Act 1973:
1) On one hand ANY income, earning capacity, property and other financial resources available and, on the other hand, the financial needs, obligations and responsibilities, which each