• The simple answer to this question is yes the procedures and processes would be the same for both a couple with young children and a retired couple.

    First featured in Wealden Times, January 2015

    The simple answer to this question is yes the procedures and processes would be the same for both a couple with young children and a retired couple. The process would start with the sharing of financial information either voluntarily or in the context of an application made to the court for financial orders.

    This is achieved by swapping financial statements. Each of the couple then have a chance to seek further information if required. Once both are satisfied they have all the information they require and that they understand the financial circumstances of the family, negotiations could begin as to how the financial resources should be shared between them. The factors which will be taken into account in each case, however, will be different.

    For the couple with dependent children, first consideration will be given to meeting the children’s needs. As a consequence, the parent with day-to-day care of the children may receive more of the available financial resources. For the retired couple if it has been a long marriage there will be an assumption that the resources will be divided equally between them as long as that division meets both their needs. Pension sharing will be an important consideration and pensions can be shared even if they are already being paid.

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