Is a 50/50 division of assets fair? - The Divorce Podcast

In this episode Kate is joined by Joshua Rozenberg and David Hodson to discuss whether 50/50 is a fair way to divide money and property during a divorce or separation.

Joshua Rozenberg is the UK’s most experienced legal commentator. David Hodson is an English solicitor, mediator, arbitrator, and part-time (deputy) family court judge specialising in complex financial family law cases.

Should assets be split 50/50 in a divorce? with Joshua Rozenberg

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In April 2023, the Law Commission of England and Wales launched a review of the laws determining how finances are divided between couples when they divorce or end a civil partnership. Kate, Joshua and David explore ‘fairness' and whether 50/50 is consistently fair in the Law Commission's Review of rules around how money and property should be divided.

Kate, Joshua and David look at the current law and the potential reforms being considered. They discuss the 'sharing principle', whether 50/50 should be the default for how finances are divided between couples and how the court deals with 'needs' cases.

Is 50/50 a starting point for dividing finances in divorce?

In England and Wales, 50/50 is often used as a starting point when dividing finances in divorce – but it's not the guaranteed outcome. The law looks at all finances built up during the marriage and asks whether an equal split meets both people's needs. If it does, that's usually where things land. If it doesn't – for example, where one person has given up their career to care for children and therefore their income is less than the other person’s, the split may look different.

As David Hodson explains in this episode, the sharing principle works a bit like a business partnership: you add up what you've built together and divide it equally, unless fairness requires something else. So while 50/50 is a useful place to start, it isn't always where you'll end up.

Is a 50/50 asset split in divorce always fair?

A straight 50/50 split can work well when both people have similar earning power and financial security after divorce. But it doesn't always reflect the reality of what each person has contributed or what they'll need going forward.

There's the gender pay gap to consider – two people walking away with the same pot of money don't always have the same ability to rebuild financially. The law in England and Wales gives judges discretion to make sure outcomes are fair for the individual, not just equal on paper. That's why getting the right support early on matters so much.

Tips on splitting your finances during separation

Dividing your finances doesn't have to feel overwhelming. Here are some things that can help:

• Get clear on what you have. Before any conversations about splitting assets, it helps to understand the full picture – savings, property, pensions and debts. Full financial disclosure is an important part of the process.
• Think about needs, not just numbers. A 50/50 split might look fair on paper, but think about what each of you will actually need to move forward – consider your housing, income and retirement. The goal is a fair outcome for both of you, not just an equal one.
• Get expert support early. Taking advice at the start of the process – even just a free 15-minute consultation with an amicable Divorce Specialist – can save a lot of time, money and stress later on. Understanding your legal position gives you a much stronger foundation for any decisions you make together.

About Joshua Rozenberg

Joshua Rozenberg KC (hon) is Britain's most experienced full-time legal commentator. He is the only journalist to have been appointed as Queen's Counsel honoris causa. He is an honorary Master of the Bench (bencher) of Gray's Inn and a non-executive board member of the Law Commission. His most recent book is 'Enemies of the People?' How Judges Shape Society. After taking a law degree at Oxford, he trained as a solicitor, qualifying in 1976. Since 2008, he has written for the Law Society Gazette, the Guardian and The Critic magazine. Joshua was the BBC's legal correspondent for 15 years before moving in 2000 to The Daily Telegraph. After resigning as legal editor in the summer of 2007 he continued to write a weekly column until the end of 2008. Joshua returned to the BBC in 2010 to present the Radio 4 series Law in Action. In 2012, he was included by The Times in its independently-judged list of the UK's 100 most influential lawyers, the only journalist to feature. Joshua is known for his independence, authority, and ability to explain complicated legal issues with simplicity, clarity, and wit. He appears regularly on Sky News, on the BBC's various news outlets and on other news networks in the UK and abroad.

About David

Prof. David Hodson OBE KC(Hons) MCIArb is a co-founder partner of The International Family Law Group, which works with international families and their children. He is an English solicitor, mediator, arbitrator, Australian (NSW) solicitor and a deputy (part-time) family court judge at the Central Family Court (DDJ in the FRC at the CFC) in London and Western Circuit. He is a member of the English Law Society Family Law Committee, a Fellow of the International Academy of Family Lawyers, a member of LawAsia, the Family Law Section of the Law Council of Australia and a similar contributor to many family law organisations worldwide. He is a regular speaker at international family law conferences around the world. He was awarded the OBE for services to international family law. He was appointed the (now) KC (Hons) in March 2022 by virtue of making a significant impact on the law of England and Wales. He is the editor and primary author of the LexisNexis textbook ‘The International Family Law Practice’ (6th ed). He is a Visiting Professor at the University of Law and an Honorary Professor of Law at Leicester University.

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