During the recession, while there were numerous separations and divorces, asset values were low so settlements were often pre-agreed. Since 2014 the improving economic outlook has driven property assets up and future value of business are looking much more optimistic – this in reality means there is more on the table to argue about in divorce cases. There are lots of myths about how assets are split in these cases
- It is not necessarily 50:50 split as portrayed in films. Each case split is adjudicated on its own merits – how much someone earns, what sacrifices one person made, etc.
- Sometimes assets brought in separately to the marriage can be exited out of the marriage to restore original position (only in high net worth cases where both parties brought items in).
- Final settlement is not always final settlement! If relevant evidence comes to light post the completion of the adjudication the courts can revisit the division of assets. It is rare but is an option.