First meeting tomorrow. Seaparating and we are not married and been together 16 years. question; as we are not married what financial information do i need to present at mediation. Joint accounts only or my individual accounts, savings, pensions, etc. I am of the understanding that anything in my name is mine and she has no rights to. Anything in our joint names is ours and should be disclosed. I am concerned that she is going to ask for all my financial info and i want to be sure where i stand. Can someone help please. I am also pretty sure she has cheated on me but she is a very good liar. I know she's been looking at this website , so i hope she's reading this as i have read an awful lot of her stuff!!!. Thinks she needs to come clean or no mediation. Oh, we have two kids as well so sure that will change things and i do hope she wont use them as pawns.
I have posted on here bfore and had some very helpful comments, but i am still confused about tomorrow and not sure how to play both financially and emotionally.
You need to disclose all your financial information, mediation is a method of reaching agreement before applying to court for a Consent Order. All assets built up in a 16 year marriage with children will be considered marital. If assets are hidden any consent order obtained could be overturned later.
Fault isn't considered by the courts when reaching a financial settlement (unless extreme)
I'm separating from my partner, we're not married, what are my rights?
There still prevails the myth of common law man and wife. Increasingly in the 21st century couples live together as if married but without going through a formal ceremony of marriage. Many believe that after a certain length of time, they acquire the same rights in law that apply to married couples, both while they are together and upon the dissolution of their relationship.
Unfortunately this is a myth. For example the rules of intestacy and relating to the next of kin should one party die, do not apply where a couple is not married.
When the relationship ends, the unmarried couple does not have the benefit of being able to apply for maintenance, lump sum, property adjustment or pension sharing orders which are available to married couples who are divorcing.
For this reason it is important to consider the position both at the time of entering into the relationship, particularly if purchasing property together, and upon separation.
When an unmarried couple enters a relationship or when they intend to purchase a property together, the terms of the relationship can be regulated in a Living Together Agreement. No one wishes to contemplate the possibility of their relationship coming to an end when it is new and both are very much in love. It might appear cynical, pessimistic and unromantic. However, statistically a considerable proportion of relationships, both married and unmarried, do end and there are usually financial consequences to consider. By entering into a living together agreement a couple can provide for how their financial contributions will affect the division of their joint assets if they later decide to separate. For example, if one partner contributes a large sum of money to pay off a mortgage, they may wish to provide that if the house is sold in the future, that party should receive back their contribution before the remaining proceeds are shared.
Although it may not be pleasant to think about, a living together agreement can avoid considerable argument, distress and legal costs in the future.
In the absence of a living together agreement, the unmarried couple that separate have to agree how their assets are to be divided. Each of them retains their own asset, that is those that each has bought on their own with their own money, but those which are bought jointly, or with joint money, must be divided by agreement. This is particularly important in relation to a jointly owned home. If the home is held in both names and both parties have contributed equally to the purchase price and to the mortgage payments, then each party is likely to receive half.