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What are we each entitled to in our divorce settlement?

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bit stumped!

  • rob.w
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13 Nov 07 #6532 by rob.w
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morning all.

very confused at the moment..... all new to me this!

my mrs seems to be of the opinion that she can leave me (understandable! :cheer:) but she also gets to keep the house as it is, me leave and have the kids every other weekend...

however, while i accept the relationship is probably now over with these actions. I am unsure of how she is so sure about her facts. she has clearly had some advice. while i am currently wondering what on earth has happened!

she seems to think she can get the house without me in it. however how does this work? i need to live somewhere dont i? to be able to fund a new residence- i will need to either sell or be bought out of my part of the house. currently she cant afford to do that.... although she thinks it isn't nessacery to do that, i can be 'made' to leave. she *automatically* gets the house as she will be classing herself as primary carer.

she has organised mediation, but when i asked her how we are going to pay for that, she said she gets legal aid? and i cant.... so does the legal aid only pay for her half of the mediation costs? i cant afford to pay for my half..... will i be seen as uncooperative by being unable to turn up to mediation due to cost?

am i at a disadvantage for not contesting the petition?

i haven't done anything wrong, she just doesn't want to be with me any longer. so how come i am at a seemingly huge disadvantage for this?

also i am a bit concerned that, with the death of my mother a few months ago (choice timing) i have been left what amounts to a sixth of a house which my father still lives in (in spain). does she have any ability to claim any of this? he is still in the property and as far as i am concerned it should have nothing to do with her WHATSOEVER. she wouldn't go out there or even liked my parents. its not worth much i am more concerned about my dad getting drawn into this nonsense. should i be concerned over this??

i am getting increasingly worried about how this will effect the kids. I dont want them to leave the current house... but i cant see how it will be retained given the course of action she is going down.

any help gratefully recieved.... should i fill in the calculator and post that up for added info?


thanking you all.....

  • Sera
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13 Nov 07 #6544 by Sera
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Hi Rob,
No one answered you!? Well, if you post some more financial FACTS you'll get a better idea how a division of assets may be split. Value of house, equity, mortgage, savings, debts, age of kids, your ages, incomes: yours and hers, Pensions, etc. etc. Also, length of marriage, and period of co-habitation prior to marriage, if it's short-term.

Right, There are no rules. Your wife can get advice, but even a solicitor can only advise. A Court will have to make a judgement in a Financial Hearing; if the parties cannot agree through solicitors or mediation.

OK: Sadly Fault and Blame (and emotional reasons) have no bearing on the actual division of Marital Assets. It is all calculated into a 'Pot'. (Despite who paid for what!)

Each parties 'needs' is then considered. if your wife is the parent with care, it is likely she will stay in the family home, at least until the kids reach 18. (Unless house is beyong her 'needs', big, enormous house) it's doubtful she would have to move out until she downsizes when the kids are grown.

You will have to include your 6th ownership of the house in Spain, if you've inherited it.

So, more figures = more advise!

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13 Nov 07 #6545 by rob.w
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thank you very much for the reply.... i had a crack at the calculator..... not totally understanding it. being that i pay for all the bills and the house at the mo' so am i supposed to fill this in as a 50/50 cost between us?? her income wouldn't cover the mortgage let alone the bills -

i accept that the best option for the kids is for them to stay there and clearly primary carer would get to too. however if i have to pay to keep her in there with them, i'll have nothing to move out with!! wouldn't i need to liquidate my share of the property to have this happen?? ideally she or me would buy each other out, but neither of us could do it. again if i had the money i would happily let the kids stay there and wait until they have left home then sell it. i haven't.

can i leave work to look after them full time and claim all the benefit that she is telling me she will be getting...? or is that plainly daft!?

calc.... pasted below. is that bottom figure monthly??

General:
The length of the marriage was 10 years.

Income:
The wife's net monthly income is £450.
The husband's net monthly income is £1300.

Children:
The number of children from the marriage is 2
Child 1 stays with wife for 4 nights per week and with husband for 3 nights per week.
Child 2 stays with wife for 4 nights per week and with husband for 3 nights per week.

Wife's Monthly Outgoings:
Essential outgoings: 155
Childcare outgoings: 20
Lifestyle outgoings: 40

Husband's Monthly Outgoings:
Essential outgoings: 936
Childcare outgoings: 80
Lifestyle outgoings: 230

Assets:
Joint matrimonial property:
- Former matrimonial home valued at £130000
- Car(s) valued at £1000
- Pension CETV valued at £1000
- Valuables valued at £1000
Total : £133000
Wife's property:
Total : £0 (Total value at marriage : £0)
Husband's property:
Total : £0 (Total value at marriage : £0)
The total value of assets you entered as joint assets was : £133000
We add to this joint pot the increase in wife's assets since marriage : £0
We add to this joint pot the increase in husband's assets since marriage : £0
We add 10% of wife's assets (valued at marriage date) for each year of marriage, which is £0
We add 10% of husband's assets (valued at marriage date) for each year of marriage, which is £0

The joint asset pot is: 133000
The wife's asset pot is: 0
The husband's asset pot is: 0


Liabilities:
Joint liabilities:
- Mortgage valued at £-98000
- Secured loan valued at £-7000
- Credit card valued at £-3000
- Overdue bills valued at £-250
- Overdraft valued at £-3500
Total : £-111750
Wife's liabilities:
Total : £0 (Total debts at marriage : £0)
Husband's liabilities:
Total : £0 (Total debts at marriage : £0)
The total value of debts you entered as joint debts was : £-111750
We add to this joint pot the change in wife's debts since marriage : £0
We add to this joint pot the change in husband's debts since marriage : £0
We add 10% of wife's debts (valued at marriage date) for each year of marriage, which is £0
We add 10% of husband's debts (valued at marriage date) for each year of marriage, which is £0

The joint debt pot is: -111750
The wife's debt pot is: 0
The husband's debt pot is: 0


Now we net off the debts against the assets:
The net joint assets are worth : 21250
The net wife's assets are worth : 0
The net husband's assets are worth : 0

Next we share out the net joint assets based on factors such as:
length of marriage, relative incomes, who cares for any children.

Wife's share: 60%
Husband's share: 40%

Wife's total share of net assets is : £12750
Husband's total share of net assets is : £8500


The Wikivorce estimate for ancillary relief based on the above parameters:

Maintenance calculation based on outgoings data:

The wife has been allocated the following:
- basic (incl childcare) needs £175
- lifestyle needs £40
A total budget allocated of £215

The husband has been allocated the following:
- basic (incl childcare) needs £1016
- lifestyle needs £230
A total budget allocated of £1246

The husband should pay the wife maintenance of £54
The wife should pay the husband maintenance of £235

Maintenance calculation based on household/childcare data:

The wife has been allocated the following:
- basic (incl childcare) needs £647
- shared contribution £250
A total budget allocated of £897

The husband has been allocated the following:
- basic (incl childcare) needs £603
- shared contribution £250
A total budget allocated of £853

The husband should pay the wife maintenance of £447

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13 Nov 07 #6550 by Sera
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No idea either how that calculator reaches its quote?

However, you do say that you support her now, so with her low income, she would probably get spousal support. Not sure if that estimate was for the kids? Usually for two kids it's 20% of your take home pay.

In situations similar to yours, (wife supported, at home parent) spousal support will be calculated on needs; and this can be adjusted in the future if her circumstances change (works longer, ability to full-time work, she co-habits or re-marries) She can probably get Family Tax Credits or whatever is available?

Often these things resolve around 70%-30% in her favour.
Sometimes a bigger slice of equity is awarded instead of Pensions allocation. It's different for each couple, and could be different with different judges!

50-50% is where the negotiating starts. Some PWC (parents with care) are awarded 80%-20% in their favour.

With the equity you have; be warned that this could easilly be swallowed up in Legal fees if it were to go to a full Hearing for Financial resolution!!!

Bottom line is: You can only split what is in the pot. The Government do not want to pick up for homeless wives and kids because marriages fall apart. I know it always seems unfair (as a woman, Independent and working hard; I lost out heavilly in my first marriage)

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13 Nov 07 #6554 by rob.w
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if the award is 80/20 or whatever. i would have to sell to make that payment. being as she couldn't buy my 20% (whatever it might be) - so therefore the children will lose their home on whatever the outcome is??

this is my concern.

am i right to be overly concerned over this or am i missing something.....??

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13 Nov 07 #6566 by Sera
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Rob,
I'm not sure if you're missing something? no one can gaurantee anything, you could get a 50-50% split, but the courts take the childrens 'needs' as a priority.

The REALITY is that most couples struggle to keep one roof over their heads (as you've said). However in divorce, if there isn't enough in the 'pot' to provide two homes, and two sets of bills, etc. Then, sadly; this is why so many people on this site have been re-posessed, lost their homes etc. (I think Chris spent the first year living in garage!) Some people end up going back to their mums etc.

No one is going to oust a mum and kids on to the streets because you want back what you invested.

Sadly; most of the posters on here, are people (like myself) who are also fighting for their rights, fighting for their homes and trying to salvage something for their new lives.

It's sad, it's the reality. Welcome to Divorce Hell.

Sera
x
PS: You could spend a lot of money shopping around solicitors; and you will probably find one that tells you what you want to hear. I'm not legal, but in the past few months have read what others experience, and I'm only quoting a likely outcome compared to what other men have said with similar situations.

If you always supported her, then the likelehood is she'll claim that she needs that support.

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13 Nov 07 #6568 by Sera
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rob.w wrote:

she couldn't buy my 20% quote]

...Also, (sorry to bum your trip) She won't HAVE to buy you out. It could be that you'd still own whatever your % is, However, you wouldn't be able to claim that until the youngest child is 18, when you could force her to downsize. (Although that may be extended if kids still in full-time education).

Most women don't want their ex's to still have a charge on the property, so they may offer to buy you out later (maybe getting a job to pay mortgage) or if they meet someone else. They also sometimes waiver their rights to claim against the pension, or reduce spousal support for a larger slice of the home.

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