Asset split - what is she entitled to?

I''m the husband....any views / help please?

General:
The length of the marriage was 9 years and 5 months.

Income:
The wife''s net monthly income is £3000.
The husband''s net monthly income is £1200.

Children:
The number of children from the marriage is 1
Child 1 stays with wife for 5 nights per week and with husband for 2 nights per week.

Wife''s Monthly Outgoings:
Essential outgoings: 2300
Childcare outgoings: 150
Lifestyle outgoings:

Husband''s Monthly Outgoings:
Essential outgoings: 980
Childcare outgoings: 150
Lifestyle outgoings: 100

Assets:
Joint matrimonial property:
- Other property valued at £95000
- Other property valued at £95000
- Former matrimonial home valued at £345000
Total : £535000
Wife''s property:
- Former Matrimonial Home valued at £130000 (value at marriage : £130000)
Total : £130000 (Total value at marriage : £130000)
Husband''s property:
Total : £0 (Total value at marriage : £0)

Processing Assets:The total value of assets you entered as joint assets was : £535000
We add to this joint pot the increase in wife''s assets since marriage : £0
We add to this joint pot the increase in husband''s assets since marriage : £0
We add 10% of wife''s assets (valued at marriage date) for each year of marriage, which is £117000
We add 10% of husband''s assets (valued at marriage date) for each year of marriage, which is £0

The joint asset pot is: 652000
The wife''s asset pot is: 13000
The husband''s asset pot is: 0

Liabilities:
Joint liabilities:
- Mortgage valued at £-170000

Total : £-170000
Wife''s liabilities:
- Mortgage valued at £-150000 (debt at marriage : £0)

Total : £-150000 (Total debts at marriage : £0)
Husband''s liabilities:
Total : £0 (Total debts at marriage : £0)
The net joint assets are worth : 482000
The net wife''s assets are worth : 13000
The net husband''s assets are worth : 0

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: 40%
Husband''s share: 60%

Wife''s total share of net assets is : £205800
Husband''s total share of net assets is : £289200


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 £2450
A total budget allocated of £2450

The husband has been allocated the following:
- basic (incl childcare) needs £1130
- lifestyle needs £100
A total budget allocated of £1230

The wife should pay the husband maintenance of £550

Maintenance calculation based on household/childcare data:

The wife has been allocated the following:
- basic (incl childcare) needs £891
- shared contribution £840
- share of excess income £600
A total budget allocated of £2331

The husband has been allocated the following:
- basic (incl childcare) needs £789
- shared contribution £840
- share of excess income £240
A total budget allocated of £1869

The wife should pay the husband maintenance of £669

Hmmmm.

Sorry, sir, my views on the Divorce Calculator are well known.

I tend to approach the matter a little differently.

There are some issues which you need to address right away.

The first, in my view, is benefits and in particular, tax credits. If you are going to separate, you will, thereafter, be regarded as two separate individuals, and your incomes will not be aggregated. So this can sometimes means that your entitlement after divorce will be greater.

So then I''d advise that both parents explore this issue with a CAB and get a '' what if '' calculation of what the benefits, and therefore your income positions, would be after separation.

Next you have to consider child support. On the face of it, 15% of your net income but I suspect in practice that would be less, if you have the child on overnight stays, and why not ??

Well, then, we have the house. Do you mind if I ask where you are living now ? Your outgoings look pretty low if you are not living in the FMH. or with relatives or friends.

How are we going to house both parties ?

You have £170,000 of equity here. In addition we have £95000 of other assets but you don''t say what they are.

But it''s hard for me to advise on housing options if I don''t know where you live. Frankly, it looks to be as though a sale of the FMH is the likely outcome. Ideally you both need two bedroom properties.

So how you divide it depends really on your housing needs, which are likely to be similar. I''d like to know more about these other assets though.

Your wife has the higher income and therefore the higher mortgage capability, if a mortgage is needed. That might suggest you need more of the equity than she does.

As regards maintenance - yes, possible. But you have to address the housing issue first. Maintenance depends on need and the ability of the parties to meet those needs.

I think I''ve spoken enough for the moment. There is quite a lot to think about. I know this is not what you were expecting, but how do you react ?

LMM