More Money than Sense?
The Court isn’t going to favour you automatically because you’re the financially stronger one. So, having the strongest legal representation possible is essential because it’s likely the Court will be generous towards the financially weaker spouse.
It’s not all about who has the most money, but who has the most sense.
For instance, you might think that because your assets are held in your sole name that they are well protected. However, your spouse can still be granted entitlement by the Court, if they believe that it’s appropriate in the course of financial remedy proceedings.
It’s also about being open and honest too. Both parties need to make a full and frank financial disclosure for at least the 12 months before the financial remedy proceedings.
You’ll have to produce bank statements, company accounts and any other investments you have and have them analysed so that transactions can be monitored. This works in your favour as much as it does your spouse, and the Court will not approve of any bad behaviour such as hiding assets.
If you’ve moved assets and the Court believes you have done this to prevent your spouse accessing them, the Court can set aside the transaction or add back the value into the matrimonial pot.