When a relationship ends, one of the biggest concerns is financial stability — and rightly so.
Unfortunately, many separating couples start the process with misunderstandings that can lead to unfair outcomes or long-term risk.
Below are some of the most common myths surrounding financial settlements and the truth behind them.
Myth 1: “Everything is split 50/50.”
Not necessarily.
While a 50/50 division is the usual starting point, the court focus on fairness, not strict equality.
They look at factors such as:
- Needs (especially housing needs)
- Income and earning capacity
- Childcare responsibilities
- Health
- Length of the relationship
- Contributions (financial and non-financial)
A fair settlement may be equal — but it may also be quite different.
Myth 2: “The house is in their name — I have no rights.”
Ownership on paper is rarely the whole story.
In marriage, both parties can have claims on the family home, pensions, savings and investments (even in sole name accounts) and business assets.
Even if an asset is legally owned by one person, it may still be considered part of the “matrimonial pot.”
Myth 3: “Pensions don’t matter — I’ll just keep the house.”
Pensions are often the second-largest asset in a marriage — and sometimes the largest.
Yet they are often overlooked.
We always recommend clients consider pension sharing orders or offsetting, as well as thinking about the instruction of pension experts so the advice you receive is specialist.
Ignoring pensions can lead to significant inequality later in life.
Myth 4: “If I move out, I lose my rights to the property.”
Moving out does not remove your claims.
Many people leave the family home for practical or emotional reasons and fear they’ve “given up” their rights.
That’s not the case.
Financial and property rights continue until a legally binding financial settlement is reached.
Myth 5: “We can just agree something between ourselves — it’ll be fine.”
Verbal agreements, even written agreements, are not legally binding unless they are turned into a Financial Consent Order approved by the court.
Without this, either party can make a claim years later — even after the divorce is finished.
A fair financial settlement protects your future. Getting clear advice early can help you:
- Understand what you’re entitled to
- Avoid common mistakes
- Protect assets
- Make informed decisions during negotiation
If you’re separating and want to understand your rights — or avoid financial pitfalls — our team is here to help you move forward confidently
