Financial Arrangements After Divorce

When two parents decide to divorce, there are a number of practical issues that must be considered

. Where will the children live? How often will they see the other parent? Who pays for what? In many instances, these matters will be solved by the parents themselves without the need for any legal advice or intermediary action; although for some parents this is required. Advice for parents struggling to see eye to eye can be obtained from Relate for Parents, a non-profit organisation that offers counselling to families.

The settling of financial arrangements during a divorce is called ancillary relief, if performed by a Family Law court. As part of this, a number of factors will be taken into consideration by the court as it decides how to allocate the familys assets. Elements that will be considered include:

The welfare of a child of the family

The income, earning capacity, property and resources of each person

The financial needs, obligations and responsibilities of each person

The standard of living enjoyed by the family before the breakdown of the marriage

The age of each person and the duration of the marriage

Any physical or mental disability

The contribution made by each person to the welfare of the family, including looking after the home and bringing up the children

The conduct of each person, but only if it is so bad it would be unfair to ignore it

Any serious disadvantage to either person that would be caused by ending the marriage

As the court is given a wide discretion in how it applies the law, the outcome of the court hearing may be quite unpredictable. It is therefore often advisable for the parents themselves to decide on how they want their assets to be divided (if possible).

As the welfare of the children is the most pressing need, the first consideration is usually to ensure that they have a suitable home. This may require selling the family home and splitting the proceeds in a fair way, allowing the primary carer enough provisions for a suitable alternative. Another option would be for the primary carer to stay in the marital home, with the other parent retaining a financial stake which is received when the property is sold.

When it comes to child maintenance payments, it is also advisable for both parents to decide on an amount that is fair to all parties. This should take into account benefits, earnings and any other dependants the parent without primary care may have. The government website Child Maintenance Options is a great resource for parents, with a range of guides, calculators and support contacts.

by: Gareth Hoyle

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