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What are we each entitled to in our divorce settlement?

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inheritance money

  • otty
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27 Oct 07 #5372 by otty
Topic started by otty
Hi

Can someone please help. I have been married for 28 years and just seperated. We only purchased our first home 1 year ago with a 35k depoist used from my inheritance money from my father so there is no equity in house as only paying interest except for deposit. The money left from inheritance I invested in my own name and that money never entered a joint account at all. My partner has all the earnings as he was selfemployed and I had a small business which relied on him for transport which he no longer does so I have had to close down and have zero earnings. I have 2 daughters living at home with me one is 24 and a student nurse with no earnings and the other is 23 with a full time job. Do I have to give him any of my inheritance and what about the 35k I paid as a depoist on the house. He has all the earning capacity and I have none at the moment how do I stand could someone please help

  • Fiona
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27 Oct 07 #5375 by Fiona
Reply from Fiona
I believe in England & Wales inheritances are rather a grey area. They are relevant and need to be disclosed but then individual circumstances dictate what happens.

When resources are limited there is more chance they will form part of the pot if both parties 'needs' can't otherwise be met. Assets used to purchase the family home are considered matrimonial regardless of their origin. However, when there are sufficient assets to meet needs and the inheritance has been kept separate, particularly if the inheritance was recent, they may be alloted to the person who inherited.

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