When parties break up and divorce, there is a fear which runs cold through their veins. How will I live, where will I live and what about the children? These are just a few issues that they need to think about. There is never a winner when you are splitting the financial assets between a couple, there is only ever compromise.
The more acrimony and disagreement there is, the more it is going to cost to achieve what you may have agreed to in the beginning.
Life is expensive and when you go from a two-income family to a one-income family, life is going to change because the needs when you have a family may not be the same when the children have grown up and got married. Needs is the trump card.
In some relationship the other party does not know how the wealth that they are used to spending is created.
There may be an issue involving:
- Difference in earning ability
- Housing needs
- If one person is ill
- Hidden assets
- Property portfolios
- Inherited wealth
In my opinion, the Court is the last port of call, depending on the all the circumstances.
The parties can facilitate mediation and/or a round table meeting to try and narrow the issues in order to resolve them.