My wife and I have a very good relationship with each other and are divorcing as we have simply grown apart.
My wife is looking to split the assets (MH and 3 rentals) with me as fairly as possible even though she potentially holds all of the cards.
What we were hoping for is that we could see a solicitor and have a consent agreement drawn up which represents an amicable split, but they seem intent on muddying the waters.
If we went for a collaborative approach could we both enter the room with our solicitors and say this is what we want, go make it happen? And just for clarity my wife would like me to have more than the a 70/30 split. If possible we would like a 50/50 if it can be done.
Common sense would suggest to me that this would be a fairly simplistic approach to getting the job done in a calm and sensitive manner, of course this is if we can keep the solicitors from medalling in our decisions.
You can obviously agree what you like between you by using whatever route you choose.
If you are agreeing amicably between yourselves why spend money using collaborative law? At the end of the day it is the Consent Order that needs signing by the judge, he is the one that needs to consider the division fair and just to all parties.
Does the matrimonial act automatically dictate a 80/20 or 70/30 split in the wifes favour?
These numbers seem to be quoted verbatim irrespective of the assets we have to split. A solicitor advised my wife yesterday that from the 4 houses we should be looking to sell the lot and re-house my wife in a smaller house without a mortgage, and give me £20K to move on.
Not bad considering I brought £50K into the marriage 5 years ago......
My wife has stated on a number of occasions that she came into the marriage with nothing and certainly does not expect to take my shirt on the way out.
We simply want a solution that allows me to atleast return to a similar position to the one I was in when we met.
Not left walking down the road with barely enough for a second hand car, and entertaining the children fourtnightly at McDonalds....
Unless there are enough assets to meet the needs of both parties and there was no particular contribution from one party splitting assets 50:50 is relatively unusual. Where assets originate from is less important with the passing of time.
A percentage isn''t the starting point, with divorce settlements equality means leaving both parties in similar position rather than a mathematical 50:50 split. The welfare of children and meeting their needs, in particular for housing, is the priority. When there are children a parent with the majority of care will need a more substantial house to house them adequately possibly for many years to come.
So the starting point is local house prices and mortgage raising capabilities. If your wife has a lower income her mortgage raising capacity will be lower and she will require a greater chunk of capital to be left on a similar financial footing.