January 24, 2018 Articles

A Modern View on Family Finance—One in the Eye for the Entitlement Generation

By Simon Bruce

The public perceives that in most cases there is a 50/50 split following divorce. That is, of course, nonsense; there is not. The United Kingdom (UK) Court of Appeal’s decision in Sharp v. Sharp ([2017] EWCA Civ 408) demonstrates a different approach to dividing the assets following English divorces.

For starters, most cases are decided by needs, not by equal division. Most divorcing families need a roof over the heads of their children and income to pay the daily/weekly/monthly bills. Their needs are the beginning and the end of the case. In a tiny minority of cases, the wealth in a marriage exceeds the family’s needs. It’s in that context that we think about how to divide that part of their assets that exceeds their needs.

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