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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

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calc reading- what can I expect?

  • Paul49sale
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06 Mar 08 #15927 by Paul49sale
Topic started by Paul49sale
the read out is:
Divorce Calculator Output
Your Wikivorce estimate for ancillary relief is based on the following parameters:

General:
The length of the marriage was 4 years and 9 months.

Income:
The wife's net monthly income is £1800.
The husband's net monthly income is £1700.

Children:
The number of children from the marriage is 0

Wife's Monthly Outgoings:
Essential outgoings: 1039
Childcare outgoings:
Lifestyle outgoings:

Husband's Monthly Outgoings:
Essential outgoings: 1159
Childcare outgoings:
Lifestyle outgoings: 160

Assets:
Joint matrimonial property:
- Car(s) valued at £3000
Total : £3000
Wife's property:
- Former matrimonial home valued at £210000 (value at marriage : £110000)
- Savings valued at £0 (value at marriage : £0)
- Pension CETV valued at £12000 (value at marriage : £9000)
Total : £222000 (Total value at marriage : £119000)
Husband's property:
- Pension CETV valued at £12000 (value at marriage : £10000)
Total : £12000 (Total value at marriage : £10000)

Processing Assets:The total value of assets you entered as joint assets was : £3000
We add to this joint pot the increase in wife's assets since marriage : £103000
We add to this joint pot the increase in husband's assets since marriage : £2000
We add 10% of wife's assets (valued at marriage date) for each year of marriage, which is £47600
We add 10% of husband's assets (valued at marriage date) for each year of marriage, which is £4000

The joint asset pot is: 159600
The wife's asset pot is: 71400
The husband's asset pot is: 6000

Liabilities:
Joint liabilities:
- Secured loan valued at £-10000

- Tax liability valued at £-2000

Total : £-12000
Wife's liabilities:
- Mortgage valued at £-64000 (debt at marriage : £0)

- Credit card valued at £-500 (debt at marriage : £0)

- Overdraft valued at £-1000 (debt at marriage : £0)

Total : £-65500 (Total debts at marriage : £0)
Husband's liabilities:
Total : £0 (Total debts at marriage : £0)
The net joint assets are worth : 147600
The net wife's assets are worth : 71400
The net husband's assets are worth : 6000

Splitting the assets:
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: 50%
Husband's share: 50%

Wife's total share of net assets is : £145200
Husband's total share of net assets is : £79800


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 £1039
A total budget allocated of £1039

The husband has been allocated the following:
- basic (incl childcare) needs £1159
- lifestyle needs £160
A total budget allocated of £1319

The husband should pay the wife maintenance of £381
The wife should pay the husband maintenance of £761

Maintenance calculation based on household/childcare data:

The wife has been allocated the following:
- basic (incl childcare) needs £700
- shared contribution £700
- share of excess income £360
A total budget allocated of £1760

The husband has been allocated the following:
- basic (incl childcare) needs £700
- shared contribution £700
- share of excess income £340
A total budget allocated of £1740

The wife should pay the husband maintenance of £40

My wife is saying I won't get a penny from the assets and her solicitor is agreeing - is she right?

Paul

  • Fiona
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06 Mar 08 #15995 by Fiona
Reply from Fiona
First thing that strikes me is that there is a differential in your monthly incomes of £100 and I can see nothing that indicates any maintenance is due.

As far as the assets are concerned the problem is determining whether yours was a short marriage as there is room for interpretation. I've come across cases where longer than 3 years has been deemed not short and other cases when 8 or 9 years has been deemed short. If the marriage was short at least each party could reasonably expect to take away what they had contributed plus 50% of any increase in the value of assets accumulated during the marriage. So, no, your wife doesn't appear to be correct.

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