The difference between sharing and needs, to meet the aim of financial independence in divorce cases

In the courts of England and Wales, the principle for division of assets is that the paying party will pay to the weaker financial party the higher of:-

a) an equal share of the marital acquest (any assets accrued during seamless cohabitation and marriage) or

b) sufficient to met the weaker financial party’s reasonable needs, factoring in the standard of living enjoyed during the marriage alongside affordability.

A recent decision in a family law case has also determined that the clock stops for calculating the marital acquest at the date of trial, save in cases where there has been any undue delay between separation and trial. This timing point should be factored into any decision when it comes to  determining the finances related to divorce, bearing in mind that a trial date may not arise for over a year after the commencement of proceedings.