What factors are considered in the division of Matrimonial Assets?

• The Court will decide on how to divide / apportion the matrimonial assets after considering the following factors:
  • • Contributions made by each party towards acquiring, improving or maintaining the matrimonial assets (e.g. income and capital investment)
      • The more contributions to the asset acquisition, the more the court is likely to award
      • At the very least, a party’s greater amount of contribution would justify a greater proportion being awarded to that party

  Debt owed or obligation incurred / undertaken by one party for the joint benefit of both parties or their children

  • • The Court may reduce the amount awarded to one party by the amount of the debt that was incurred by that party
• Needs of the Children
  • For example, the needs of the children may require that the matrimonial property not be divided and that the children be allowed to live in the property until the youngest child is 21 years old – this occurs because the Court recognises that needs of the children are paramount
• Contributions made by each party towards the welfare of the family (e.g. homemaker, caregiver for children / dependents)
  • This accounts for the non-financial contributions of the homemaker who helped to create and maintain a positive home environment
• Agreement between the parties relating to the ownership and division of the matrimonial assets made in contemplation of divorce
  • Whether a prenuptial agreement will be recognised by the Court will depend on the unique facts of each case
• Period of rent-free occupation (or other benefit) enjoyed by one party in the matrimonial home to the exclusion of the other party
• Assistance or support (financial and non-financial) given by one party to the other party
  • This includes the assistance or support given by one party which has helped the other party carry on an occupation or business
• Amount of maintenance paid to the former wife

It is also important to find out what to expect from your divorce mediation session, where you may potentially discuss the above factors. You can check out this guide here for more information.