You may have heard recently about Gary Lineker’s calls for Financial Settlements, following a divorce, to be simplified to a mathematical equation. However, providing for both parties financial needs and those of any minor children following a divorce is not necessarily that simple. Would a 50:50 split of everything owned always be fair? Would it re-house the children?
The recent case of Morris which hit the headlines in March this year perhaps highlights that the answer to this question will be ‘no’ in the majority of cases. The Wife in this case was awarded 90% of the parties’ capital. Her needs were seen as greater as she had given up her career to be the primary carer to the parties’ children. This put her at a disadvantage when returning to employment after a long break, compared to the husband who was a managing director of a successful company and who also had a bigger pension pot. Added to this the judge considered the ‘extravagant’ spending by both had left them with limited capital which was going to be required in order to re-house the wife and children of the marriage.