Marriage counseling - Divorce checklist

The financial implications of divorce in United States

The divorce law in US varies from state to state. Therefore the financial implications of divorce also varies accordingly. If you are:

• Living in the state of California then please see Marriage Counseling Divorce US -1
• Living in the state of New York then please see Marriage Counseling Divorce US -2
• Living in the state of Washington then please see Marriage Counseling Divorce US -3

The financial implications of divorce in United Kingdom

When you are considering divorce, it is important that you understand the financial implications of your legal separation.

• Despite most people's beliefs, there is no 50:50 law or rules regarding the division of assets in UK. The 50:50 rule normally only applies when the couple are young, not been married for long and both have a potential to earn a reasonable income. In general however, the court will assess each case individually.
• There is no "law" regarding how much money one spouse should pay the other. The court will take into account the welfare of the children if applicable.
• The court will take into account the income (or the potential for earnings) of both partners.
• If one partner is moving out then this is also taken into account when deciding on finances as the new partner's income will also be considered and taken into account when the court decides on the financial obligation of each partner.
• The court will consider any mental or physical disabilities, specially when when applicable to children.
• Both partners are considered equally responsible for contributing to the upbringing of the children, even if one partner has had to stay at home or give up work to do it.
• Except for cases of extreme violence or abuse, the court is not concerned with one partner's past behavior, even if adultery is committed, when considering financial implications of the divorce.
• The partners' pensions are also considered as a factor.

There are several ways that the court can impose payments:

• The court has the power to sign the property over to one partner, usually the mother.
• The court has the power to enforce regular monthly payments by one partner to the other. This will normally be done in arrears.
• A one lump sum payment.
• If the divorce is going to take a long time, then the court has the power to make one partner start paying Maintenance before divorce is actually granted.
• To re-direct part, or in extreme cases even all, of the pension when available.

Please note that this is only intended to provide you with the guidelines as to the financial implications of divorce in UK. But, it is important that you realise that the court considers each case individually and on its own merits.