My partners ex of 7 years has started ancillary relief proceedings.
At the time of their divorce in 2001 they came to an agreement that the equity in the FMH was split 50/50. this amounted to £65k each. The only other assests were a car worth 4k that the ex had as part of the agreement. he earned 40K she 20K My partner stayed in the FMH and remortaged to pay her. Arrangements for their child were a 50/50 residency order. Unfortuately they did not get a FCConsent Order rubber stamped at the time.
The ex bought a 2 bed flat, but we believe that was sold at a later date to pay off debt that accrued since divorce. she works but claims she has now has low income.
arrangements for the child changed to him living full time with my partner when the ex moved home. and contact with her every other weekend and school hols.
we now have our own home plus 2 children from my former marriage and 1 of our own (4 in total ) . My partner maintains the FMH and is rented out, my house is also rented out. i no longer work and stay at home to look after family. The fact we cohabit means that we all our finances including mine have to be declared. I am gobsmacked to say the least that my hard earned assests are taken into account.
Our questions to you are:
what are her chances of success - best and worst cases?
was the original 50/50 split a fair one?
why should we possibly be penalised (as we see it) for someone elses inability to manage money ?
The ex has managed to survive for 7 years now lives in a prestigious area in london with many hols abroad, shopping in harrods and the like.....on her low income!
any thoughts, views welcome as we've to find a similar situation to our own
Oh my god this sounds like a replica of my circumstances. If you look back at all my previous posts from start to finish you will see exactly what the outcome of our case was. (it took 3 years to reach a conclusion and my husbands ex wife lost her house in the process to pay her lawyers fees of some 30k! All on a low wage!!!)
I really feel for you as I TOTALLY understand the situation you find yourselves in! Its too late at night for me to respond to your post in any depth, but if you PM me or have a look like I say at my previous posts it may somewhat eleviate some of your anxiety.
At which point in time is the relevant value of the FMH for the purpose of agreeing a split? Is it the time of sepearation, the the time of agreeing a settlement upon divorce ( all be it without a Consent Order) or now 7 years post divorce.
It just so happens that my partners share of the split was left in the FMH. Would the case be different if he had sold the FMH instead of becoming sole owner and invested the money else where?