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Divorce in Ireland: Division of Assets

Divorce in Ireland: Division of Assets

Updated on Tuesday 22nd March 2016

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Divorce-in-Ireland-Division-of-Assets.jpgA divorce in Ireland is concluded in accordance with the provisions of the civil legislation. Although this is a delicate matter, persons involved in such an event should be familiar with the procedure and legal actions they can follow in this case. One of the aspects the spouses will have to settle during a divorce is the way in which they will divide their assets, a procedure which is regulated by the Irish legislation. Persons interested in the division of assets during a divorce can receive assistance from our Irish solicitors, who can offer legal advice on how the spouse should act in order to receive his or her claims. 
 

Disclosing financial assets in Ireland 

 
The first step in the process of dividing the assets is the disclosure of all the financial assets owned by the two spouses. In this sense, they are requested to declare the following aspects by subscribing the original documents: 
 
assets;
income;
pension;
life insurance. 
 
In the situation in which a party refuses to disclose the information, the other party is entitled to file in the court for an order of discovery of documents, but only after the procedure for judicial separation or divorce has started; our team of Irish lawyers can offer you legal assistance in this sense. 
 

Division of assets in Ireland

 
As a general rule, the parties involved in a divorce can settle upon the division of assets by negotiating on them through a mediation process. Only if this method fails, the court will take action and analyze in details the value of the assets held by the two spouses. 
 
The court will take into consideration a wide set of factors when deciding the way in which the assets will be divided, as prescribed by the Divorce Act
 
The court will have to decide on the aspects such as:
 
the income and lifestyle the spouses had until the moment of divorce and the financial resources they will have in a near future;
financial needs of both of the spouses;
the standard of living before of the divorce;
the age of the spouses and the duration of the marriage;
the spouses’ general conduct;
the accommodation needs each of the spouses will require after the separation. 
 
If you need further information on the division of assets in Ireland, please contact our Irish solicitors for assistance or legal representation in front of an Irish court. 
 
 

Comments

  • Mark 2016-03-04

    I believe that the mediation process is the best solution to this problem,because addressing to a court on this matter represents a very time consuming procedure.

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