The Bigger Picture (Bath) – Issue 9 [22 January 2015]
Welcome to the Bigger Picture – a series of in-depth features on important issues which may affect you personally or in business. These features are published monthly in the Bath Chronicle.
In this feature: Divorce - and how finances are likely to be divided
There are many common misconceptions about divorce and in particular, how a couple's finances are divided. During this highly emotional and difficult time, it helps to separate fact from fiction, as the family law team at Withy King explains.
Divorce law has been evolving over the last 15 years in an effort to keep pace with modern family dynamics. It still has a way to go but there have been some important changes. One of these has been the move towards a 50-50 starting point. The pendulum can swing dramatically in either direction, depending on the individual needs of the couple and any children as well as a raft of other factors. While it is often assumed that any joint assets will be shared equally between the two parties on divorce, this is often not the case.