Could it be that 50% of 'facts' about marriage and divorce are in fact, fiction? It's interesting to read in this article the truths behind some fallacious ideas that surround this uncomfortable topic. I wanted to share some further misconceptions in this field that were conveyed by family lawyers in a research piece we undertook recently.
- A 50:50 split is the usual financial settlement. False - Although 50:50 split is often the starting point there are many factors that are involved when awarding a settlement. Each case is looked at on an individual basis but the settlement will take into account the financial needs of both parties.
- Pre-nuptial agreements are not upheld in the courts. False. Although there is no statute in law making pre-nuptials binding, there have been many recent rulings upholding them.
- Couples who live together and are not legally married have the same rights as married couples. False. If the marriage breaks down they are not legally entitled to make any claims on each other's assets, including property and pensions. They will generally have to come to an agreement between themselves.
Perhaps the sensitivity around this topic means we haven't questioned some ill-founded beliefs.
There are financial pros and cons to getting legally married — and the same goes for getting divorced. But divorce is mired in mythology, and it can be hard to get a straight answer: Note the pervasive idea that 50 percent of marriages end in divorce, or that the divorce rate is on the rise. Neither is true.