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Dividing up assets when have multiple properties.

  • Under60
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2 years 8 months ago #499382 by Under60
And if you are selling properties that are not your fmh, don't forget to factor in the CGT and expenses.

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2 years 8 months ago #499400 by snowbird123
Thats for your detailed reply. I will try to answer your questions. I think my income needs would be around £2300 a month. It is hard to guess... I think with my income, even without my rent income, with child benefit and tax credits plus maintentance i would have enough to live on. Yes, Around £2300 without rental income and with £400 maintenance from him.

My husband earns around £70k without the rental income i think. He puts around £700 per month in his pension and pays around £500 for kids other kids. I dont know what that leaves him with each month after tax.

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2 years 8 months ago #499403 by snowbird123
Would it be correct that if I added up all the assets, took off all the debts, then there would be around 545k left to split. a 70/30 split would be £381k to me, (enough to pay off fmh mortage) and £163k to him (could live in 3 bd prop with some mortgage.

Does that make sense?
Minus fees, i forgot about them.

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2 years 8 months ago #499404 by Clawed
snowbird123 wrote:

Would it be correct that if I added up all the assets, took off all the debts, then there would be around 545k left to split. a 70/30 split would be £381k to me, (enough to pay off fmh mortage) and £163k to him (could live in 3 bd prop with some mortgage.

Does that make sense?
Minus fees, i forgot about them.


You can't sell the houses to split the equity and live in them or have I misunderstood your calculations?

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2 years 8 months ago #499405 by snowbird123
no, you are right, ive made a mistake there.

If we dont sell the fmh and the 3 bed, i think it leaves £295k in total to be split.

Unfortunately we live in an expensive part of the country...

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2 years 8 months ago #499407 by Clawed
The pension is not accessible until age 55 which will also reduce the cash available to share towards living expenses or reducing the mortages, you may have to let the fmh go.

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2 years 8 months ago #499408 by snowbird123
you may be right. Is there anything else i havent thought of?

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