Legal Publications > Marriage & Family

Financial Provisions for the Spouses on Divorce

·  To divide the assets of the parties so as to make provision for their housing and financial needs.

· Where there are assets which are available beyond satisfying the immediate housing and financial needs, equality in division of the assets should be made unless there is a good reason to the contrary.

· Two stage inquiry:

1. First, computation of the available assets of the parties.

2. Second, distribution of the assets by reference to the three principles of need (generously                       interpreted), compensation and sharing.

·  The principle of need requires consideration of

1. the financial needs, obligations and responsibilities of the parties;

2. the standard of living before the breakdown of the marriage;

3. age; and

4. any physical or mental disability.

·  The principle of compensation relates to, among others:

1. the prospective financial disadvantage which upon divorce some parties face as a result of decisions     which they took for the benefit of family during marriage.

2. in short marriage the financial disadvantage a party suffered, if any, on entering into the marriage.

3. any loss of possible pension rights.

·  The relevant factors for the principle of sharing are: 

1. the contributions of each of the party.

2. the duration of the marriage

3. conduct of the parties which it would be inequitable to disregard.

·  The principle of fairness is to apply to all properties of the parties both 'matrimonial' and 'non-matrimonial'.