The length of a marriage is one of the most influential factors in how English family courts approach the division of finances on separation. In a long marriage, the principles that apply are well established, but the application of those principles to any particular case depends on a wide range of specific circumstances.
For longer marriages, the court's starting point is generally that the assets built up during the relationship should be divided equally. This is sometimes called the sharing principle. It recognises that both parties have contributed to the marriage over a significant period, whether through earning, caring for children, running the home, or supporting the other's career.
Equal division does not mean that every asset is divided in half. It means that the overall settlement should broadly reflect an equal share of what has been accumulated together. The court has wide discretion in how that is achieved in practice, whether through the transfer of property, a lump sum payment, pension sharing, or a combination of approaches.
In a short marriage, assets brought into the relationship by one party often retain their separate character and are less likely to be included in the matrimonial pot. In a long marriage, this distinction becomes less significant over time. Assets that began as separate property may become so intertwined with the shared finances of the marriage that the court treats them as matrimonial assets.
This does not mean that pre-marital wealth is always shared on equal terms. Where one party brought substantial assets into a long marriage and there is sufficient in the pot to meet both parties' needs without touching those assets, the court may allow the contributor to retain them. But this is not guaranteed, and it depends heavily on the overall picture.
Our family law barristers can give you a clear and honest assessment of how your specific circumstances are likely to be approached by the court.
In a long marriage, particularly where one party has spent significant time out of the workforce to raise children or support the family, the earning capacity gap between the parties may be very significant. The court takes this seriously and will consider how both parties can be housed and maintain a reasonable standard of living after the separation.
Where one party has a much greater earning capacity than the other, ongoing financial provision in the form of spousal maintenance may be appropriate. In long marriages, maintenance orders are more common and may sometimes be made without a fixed end date, though this is less common than it once was.
Pensions are often the most significant asset in a long marriage, particularly where one or both parties are approaching or have reached retirement age. Where there is a significant pension disparity between the parties, the court will consider how to address it, whether through pension sharing, pension offsetting against other assets, or earmarking of pension income.
Getting proper pension advice and ensuring that pensions are accurately valued is essential. It is one of the most common areas where people in long marriages reach settlements that they later come to regret.
Where a business has been built up during a long marriage, it is likely to be treated as a matrimonial asset. Valuing a business fairly, and deciding how a non-business-owning spouse should be compensated for their share, is one of the more complex aspects of financial remedy proceedings in long marriages.
It is possible in some cases to ring-fence a business while compensating the other party from other assets. But where the business is the primary asset, a creative and carefully structured settlement is often needed.
Our guide to the costs of using a barrister explains what specialist advice for complex cases typically involves.
Our barristers are available to discuss your options at an early stage. Get in touch to find out more.