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Asset Division - Who gets what?

  • dive1082
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18 Jul 12 #344112 by dive1082
Topic started by dive1082
Hi all,

Firstly can I just say a HUGE "thank you" to the Wikidivorce advisor for their much needed point in the right direction today! You were a light in a very dark tunnel! Well done!

Right, onto the nitty gritty...

This is probably one of the most asked questions but I guess each case is different...

My wife and I are in the process of getting divorced. M is 42 f is 40. We have no Dependents. We have been married for 7 years and co-habited for 4 years before getting married, making a total of 11 years together.

Our assets consist of the house, both have pensions, f is worth less than 3k M is 17.5k.
F has savings of approx 20k and shares unknown in value but generated aprox 1k per annum in dividends. M has no savings or shares.

F has chattels worth aprox 25k and m has aprox 8k (motorcycle) and no other real tangible assets.

F has no debt but m has aprox 20k accumilated through the marriage and used to finance the relationship with food, bills holidays etc.

Net incomes differ by aprox £400 pm with the m earning the most.

10 years ago when we bought our first home, f bought her half outright and m mortgaged his half. M also paid most of the housold running costs for aprox 7 years of the relationship. f contributed little.

6 years ago, first house sold for profit and all monies put into purchasing second home. Again, f added more money to make up her half.

Aprox 3 years ago, calculations were done and agreed that m had paid as much into the relationship to cover his half albeit in interest and bills, and now both f and m would pay equally.

Now at the divorce stage, f wants to take out 50% of the equity to cover what she has put in in the beginning, and then after paying for everything, split the equitiy 50/50

M is in disagreement and thinks that as he has also input an equal 50% over the 11 years, he should be entitled to a straight 50/50 split...

Advice please?

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