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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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Inheritance

  • readyplayerone
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23 Nov 21 #518173 by readyplayerone
Topic started by readyplayerone
My ex has confirmed that they inherited 25% share of their family home following their mother's passing one year ago. Their father still living in this home. At the time of inheritance we had been separated 7months and Decree Nisi granted two months later.

Question is, should this share be considered as an asset in the pot? The advice given to my ex by our mediator is that as they cannot access it, and will not be able to access it for some time, it is not a matrimonial asset.

  • WYSPECIAL
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23 Nov 21 #518176 by WYSPECIAL
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It’s unlikely to be considered part of the matrimonial pot as it has never been treated as such during the marriage unless there is a compelling reason why it should be.

Sound like it can’t be liquidated which would also limit its worth if it is included.

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23 Nov 21 #518178 by readyplayerone
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Perhaps not part of the pot, but under section 25 of the matrimonial act, could it be considered as a financial resource to have in the foreseeable future? and therefore offset the division of current, accessible assets such as the split of the equity in former marital home?

a) the income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future...

  • seeingawaythrough
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23 Nov 21 #518179 by seeingawaythrough
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My ex tried to argue that one - similar circumstances. It didn't stand because it just wasn't a liquid, usable asset.

I was told that the Courts try not to consider future inheritance - which in this case it would be as the father is still living in the home so it's availability is contingent on him dying or selling up.

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23 Nov 21 #518180 by readyplayerone
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Circumstances are similar in this case as it is contingent on current occupant dying or selling to release this equity. Thanks for your response. Good to have a real world example to consider.

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24 Nov 21 #518183 by Rickoshea
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"is likely to have in the foreseeable future" would normally relate to something that is going through a process already i.e. probate.

The court won't rely on something that requires a sequence of events that may or may not come to pass as being viable. No reason it can't be mentioned/included but just an awareness it will probably carry little weight into the scope you were approaching it from

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