When it comes to financial remedy in the context of divorce or civil partnership dissolution, the terms “fairness” and “equality” are often used interchangeably. However, they represent distinct concepts that play crucial roles in the legal process. Understanding the difference between fairness and equality can help parties navigate the complexities of financial settlements more effectively.
Equality in financial remedy refers to the equal division of assets between the parties. This concept is often the starting point in financial settlements, particularly in long marriages where both parties have contributed equally to the family, whether financially or otherwise. The idea is that both parties should leave the marriage with an equal share of the marital assets.
Fairness, on the other hand, takes a broader view of the circumstances surrounding the marriage and the needs of both parties. The court aims to achieve a fair outcome, which may not necessarily mean an equal division of assets. Fairness considers various factors, including the needs, resources, and future earning capacities of both parties.
In a long-term marriage where both parties have worked and contributed equally to the family finances, an equal division of assets might be considered both fair and equal. Here, the starting point of equality aligns with the broader concept of fairness.
In a scenario where one party has been the primary breadwinner while the other has taken on the role of homemaker and primary caregiver for the children, an equal division of assets might not be fair. The court may award a larger share of the assets to the homemaker to account for their future needs and the sacrifices made during the marriage.
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