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marital Home advice

  • vsousa1
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11 Aug 12 #348842 by vsousa1
Topic started by vsousa1
Hi
I am thinking of divorce

Situation;
Married 6 years no children
I bought marital home with proceeds from
a property i had before marriage.
Joint mortgage. have had marital home nearly 3 years.
Wife has always worked but has never contributed anything towards the mortgage or bills. she takes out her money every week she gets paid from out account. I have always paid the mortgage and bills( my fauld really but am a soft touch)
There is probebly about £50k in equity
would she be entitled to half?
Is there anything i could do?
ant advice much appreciated
Thanks

  • LittleMrMike
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12 Aug 12 #348940 by LittleMrMike
Reply from LittleMrMike
There is really not enough information here to give you too much in the way of advice here.
The primary objective of a Court is to make sure that you both have somewhere to live. Unfortunately, two into one does not go, and some diminution in lifestyle for both of you is almost inevitable.
If both of you work, the likely outcome, given that it is a relatively short marriage, that there are no children and you both work, is a sale of the marital home and division of the proceeds.
Your respective incomes, however, will matter. Whatever arrangement is finally made, both of you must be able to afford the home that you will have.
Again, if you both work, as long as there is no enormous disparity in incomes, that would suggest the probability of a Clean Break, with neither of you having any ongoing financial claims against the other.
But I stress, I am making assumptions. They may not be right. My suggestion is that you would find it useful to assemble all the facts about your financial situation, and that of your wife, as far as you know it, and you should get a general idea of what the likely outcome might be.
If you can, avoid Court. It is better to use mediation if you are still on reasonable terms. Court proceedings can be disproportionately expensive.
LMM

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