High Net Worth Divorce Solicitors

The Court deals with the financial aspects of the divorce separately from the divorce itself. If it is not possible to reach an agreement, a financial application can be lodged with the Court at the same time as the Petition.

What does the Court take into consideration during financial proceedings? In order to seek to achieve a fair financial outcome, the following will be considered:

• The income, earning capacity, property, financial resources (now and in the foreseeable future both in this jurisdiction and worldwide) of each party; and
• The financial needs, obligations and responsibilities of each party;
• The couple’s standard of living during their marriage;
• The length of the marriage and any period of cohabitation beforehand;
• The age and state of health of each party; and
• The contributions, both financial and non-financial, that each party has made to the welfare of the family.

The welfare of any child is the Court’s first consideration. The Court will take all the assets into account and first consider the question of needs (of the parties and the children). In the majority of cases, the assets do not exceed the needs in which case the needs will be the determining factor. If the parties’ needs can be met, then the equal sharing (of matrimonial assets) and compensation (of relationship-generated disadvantages) principles may be engaged.

The Court may leave non-matrimonial assets such as inherited wealth or assets generated before the marriage out of account and share the matrimonial assets equally. In very exceptional circumstances, a Court may deviate from the sharing principle where one of the parties has made a ‘special contribution’ to the marriage.