When it comes to the process of negotiating the financial settlement for a divorce, one of the most often questions that we get asked is, "Will a new partner effect my divorce settlement?" When someone asks us this question, we always have to take into account the details of that particular client's situation, and even after doing so, it might be challenging to provide a definite response. Mediation Clifton
This article should not be considered legal advice because the individual circumstances of each divorce and financial settlement need to be evaluated on a case-by-case basis. Instead, it should be viewed as a discussion of general principles. This article will give you a flavour of what the family court may consider in relation to a new partner and the financial settlement. If you need family law legal advice based on your specific circumstances, you have the option to book in for a free 30-minute family law consultation. However, for the time being, this article will provide you with an overview of the potential factors.
During the course of the financial discussion, a married partner would undoubtedly be taken into consideration; but, in the majority of cases, the pair is going through the divorce process and is therefore unable to remarry. The presence of a partner is likely to be regarded in situations such as cohabitation or the intention to engage in cohabitation. Therefore, what exactly is the meaning of the term "cohabitation"? The case Kimber v. Kimber resulted in the establishment of various standards;
The Form E, which is the document that is used for each party to provide complete and open disclosure of their financial condition, asks for some basic financial facts of every new partner; however, this does not always indicate that the information is used. Mediation Clifton investigation does not have the potential to cover as much ground as it might because it requests information "insofar as it is known."
It is essential to remember that any desire to cohabit should always be declared throughout the process of negotiating a financial settlement. This is something that should not be overlooked. If this is not the case and the former spouse begins living together soon after the financial settlement is finalised and the Consent Order is approved, there may be grounds for the former spouse to challenge the settlement. This is the case if there is reason to believe that "full and frank clarification" was not made during the time of negotiation.
The financial requirements of both parties, as well as the assets and liabilities that can be divided, will be taken into consideration by the judge.
When it comes to new partners and the division of assets following a divorce, there is no hard and fast rule. The court is required to take into account the effect of a new partner, but the extent to which this new partner impacts the court's ultimate judgement will depend on a number of criteria including the following:
Take, for instance, the situation in which the ex-husband moves in with his new rich girlfriend, who also happens to be the owner of a house. It is possible that the court will come to the conclusion that the former husband no longer requires assistance with securing housing, that his living expenses have been significantly reduced as a result of the fact that they are shared, and that he therefore has more income that is available to him. In this particular case, the former wife may be granted a larger share of the matrimonial assets than she would have been entitled to if he had remained unmarried.
A further illustration shows that the woman moves in with a partner who is on a low salary and has very small assets, both of which have very little of an effect on the financial situation of the previous wife. In this particular situation, it's probable that the income of the new spouse will not be taken into consideration.
If there was enough money in the marriage pot to cover the housing requirements of both parties, the court may not take into consideration the new partner because the new spouse's wealth or lack of wealth has no influence on the financial settlement. This is true in either scenario.
Talk to us if you are in the process of finalising the terms of your divorce, are in a new relationship, or are considering taking things to the next level by moving in together. During the free Mediation Clifton initial consultation that you get for family law, which lasts for thirty minutes, we are able to provide some basic advise on the consequences depending on your particular circumstances.