Part Two of Our Family Law FAQ Series

Welcome to the second instalment of our Frequently Asked Questions for those considering
separation or divorce. In this article, we focus on one of the most pressing concerns for
clients at the outset of this process — the financial implications.
Below, we address some of the most common questions about finances, assets, and
maintenance. Please note that these answers are for general guidance only and do not
constitute legal advice. We strongly recommend speaking with a family law solicitor to
discuss your particular circumstances.

How are assets divided?

The court’s primary goal is to ensure proper provision for both spouses and any dependent
children. This does not necessarily mean a 50/50 split. The division of assets takes into
account factors such as income/income earning capacity, accommodation needs, reasonable
expectations of standards of living into the future, length of the marriage, ages and needs of
any children, any disabilities, whether a sacrifice to a career should be taken into account and
any statutory benefits either are entitled to.

What happens to the family home?

There are several possible outcomes, including:

• The property is sold and proceeds divided,
• One party buys out the other’s share, or
• One party remains in the home with a deferred sale at a later date (often when
  children reach a certain age).

The outcome will depend on the specific circumstances of the family, including financial
resources and the needs of any children.

Will I have to pay or receive maintenance?

Maintenance may be ordered for a spouse and/or dependent children. The amount is based on
the financial needs and resources of both parties. It is not a one size fits all. It can be agreed
on consent or ordered by the court.

It will be of no surprise that if one party is looking after the children for longer periods of
time then the other party will likely be required to pay child maintenance.

Spousal maintenance primarily applies when there’s a significant difference in the financial
situation between the parties and when one party has been financially dependent on the other
party throughout the marriage.

Is full financial disclosure required?

Yes. Both parties are legally obliged to provide full and frank disclosure of all income, assets,
liabilities, and pensions. This transparency is essential to ensure that any agreement or court
order is fair and legally binding.

The party’s financial information is set out in the first instance in an Affidavit of Means
which is a legal document detailing the individual’s financial situation. This is then
accompanied by vouching documentation which includes to name a few the parties bank
accounts, payslips, pension summary, employee summary etc.

Once proceedings are lodged in the Circuit Court, vouching documentation for the 12 months
prior must be provided. In High Court cases, the requirement is three years prior to
proceedings issuing.

Can we resolve finances without going to court?

Yes. Many couples are able to reach financial agreement through negotiation, solicitor-led
settlement, or mediation. Once agreement is reached, it can be incorporated into a legally
binding separation agreement which can be ruled in Court to make a Court Order, without the
need for contested proceedings.

We hope you found this second part of our FAQs interesting and for further information on
this or any other family law matter, please contact a member of our Family Law Team —
Brendan Dillon, Emma Dillon, Alice Downey, or Simone Murray — on 01 296 0666.