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How to share these assets between husband and wife may be an issue that is paramount in your mind. It is important to remember that it is not the law in this country that matrimonial assets must be divided equally between you. On the contrary, a Divorce Court has absolute power to divide the matrimonial assets between a divorcing couple in any way that the Court considers fair in the individual circumstances and putting the interests of children first at all times.
However, an equal split of all marital assets is certainly a good starting point and if assets are to be split unequally, then there has to be a good reason for it. The most common reason is the need to provide a home for dependant children.
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Most people can agree what to do about their assets. Either they discuss it between themselves or have help from an independent mediator. Most often agreement is reached with the assistance of lawyers and it is rare indeed for a Court to make a final decision on financial matters after a contested hearing.
If it is necessary to apply to Court for financial issues to be resolved, in the divorce proceedings, then your solicitor will explain step by step what the process involves. Even when there has to be a Court application, the most common result is for there to be a negotiated settlement represented by a final order approved by the Court and made with the consent of the parties.
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