Assets, property, pension
At the date of judicial separation or the date of the divorce, the Court looks at the totality of the assets held by both parties.
Assets comprise all the worldly goods owned by the couple collectively or individually and including the family home, family business or farm, professional practice, any vacation or investment properties, share portfolios, pensions/pension funds/ PRSA/, life insurance-linked investments, SSIAs, racehorses etc etc. It is all in the collective pot.
Provision for the care and needs of any dependent children is the Court’s first priority and after that the welfare of the separating spouses depending on their respective financial needs and means. The separating parties’ needs and means are assessed by the Court and taken into account.
The Court considers a number of factors before apportioning the assets between the parties.