Finances

Myth
  Myth
“If I get divorced, I will have to give my wife 50% of everything.”
Fact
  Fact
There is no universal rule for financial settlements, it depends on the circumstances of each case, especially the length of marriage and financial contributions each party has made. Generally speaking, the longer the marriage lasted, the more each party is entitled to each others assets – and likewise responsible for debts. If the marriage is short, the general rule is that each party goes out with what they brought in. Any assets accumulated within the marriage are divided based on such factors as the parties resources, their housing needs, age and length of marriage. If there is an imbalance in income for example, a move away from a 50:50 split may be considered fair.

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