Division of Assets

The division of assets in divorce and separation cases is a complex area of the law with a range of factors determining how a court may rule in scenarios where couples are unable to agree on terms. Primarily, a court seeks to ensure that assets are divided equitably between the parties involved. However, it’s important to understand that equitable doesn’t necessarily equate to equal. While the court aims to guarantee that all parties are adequately provided for, especially dependents like spouses and children, the division is influenced by the unique circumstances of each family.

Factors that a court may consider when determining how to divide assets includes the following:

• Marital Contribution – The extent of contributions made by each party to the welfare of the family, including any contribution made in the capacity of homemaker or parent.
• Financial Resources – Current and future earning capacities, incomes, property, and other financial resources which each of the parties has or is likely to have in the foreseeable future.
• Financial Needs and Responsibilities – Present and future financial needs and responsibilities of each party.
• Standard of Living – The standard of living enjoyed by the family before the breakdown of the marriage or partnership.
• Age and Physical/Mental Condition – The age of each party and any physical or mental disability may be taken into consideration.
• Duration of the Marriage/Partnership – Courts may consider the length of the relationship when determining how to divide assets.
• Formal Agreements – Any formal or informal agreements the couple may have made (for example, prenuptial agreements) may be considered by the court.
• Pensions – Rights or potential rights to access pensions, benefits, and other financial gains.
• Conduct – In rare cases, the courts might consider the conduct of one or both parties, but only if it would be inequitable to disregard it. Remember, Ireland operates a no-fault divorce system, so very rarely looks to apportion blame except in very serious situations (serious child or domestic abuse, for example).
• Accommodation Needs – The housing needs of both parties.
• Welfare of Dependents – The welfare and specific needs of any dependent members of the family, especially children.
• Rights of Others – Rights and interests of third parties, such as cohabitees or creditors.
• The Existence of Separate Assets – Assets which were clearly separate and not intended for shared family use, like inheritances or gifts, may still be considered by the court in certain circumstances.

At McCarthy + Co, our family law team have extensive experience in helping our clients reach fair and equitable settlements regarding the division of their assets following the end of a marriage. We work closely with you to help you avoid the possibility of a lengthy, costly, and emotionally taxing divorce by negotiating clearly with your spouse’s legal representatives, aiming to settle out of court. If you currently have concerns regarding the division of assets in your marriage, you can complete our confidential consultation form and a member of our family law team will get back to you.