When Relationships End
18-June-08
The end of a relationship can be distressing for everyone involved. Whether you were married or co-habiting, the break up of a relationship is likely to result in assets such as property, savings, pensions and investments being sold or divided up. The welfare of any children may also be affected.
Married couples benefit from established matrimonial law, which gives courts the authority to make decisions about what to do with the assets of the marriage, regardless of who owns them. Properties can be transferred from joint names to one person; lump sum payments can be ordered; pensions can be divided.
Assets are not always divided equally. A number of factors tend to be considered when determining how they should be divided, the age and financial resources of those involved, the welfare of any children and even the standard of living. For those with children, the needs of one parent will often be greater than the other, especially if one parent meets the majority of the childcare. This may result in an unequal division of assets. However, where the assets are of a sufficient value to meet everybody’s needs then a 50:50 split may well be the result.
Currently, couples who live together but have neither married nor entered into a civil (same sex) partnership do not benefit from any specific law to assist in dividing up the assets of the relationship. Problems often arise when dividing up assets in these cases, especially the house where a couple has lived. If the house is in the sole name of one person, the other person may seek to establish a share in the property as a result of contributions that they may have made to the property or outgoings.
At SMR Solicitors, we have many years’ experience in handling the legal issues following relationship breakdown. Whilst we cannot take away the emotional trauma of such break-ups, we can help you get the best possible outcome so that you may go forward with your life.
Please contact Roger Stone at Chichester or Sarah Evans at Selsey for more information.