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Assts built up after separation

  • rob2811
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19 Sep 12 #356668 by rob2811
Topic started by rob2811
I seperated from my wife 2 years ago, we were married for 6 years and together for 18months before that.
She had an affair and moved out of our family home straight into living with the guy she had the affair with.

During (or before) our marriage we built up no capital assets.

We have a small son.

Since the separation I''ve been paying her a combination of Child and Spousal maintenance, I''ve never missed a payment to her, and I regularly contribute to additional costs associated with our son such as shoes, clothes, nursery fees etc.

If I now started to build up capital assets, in the form of ISAs, savings, shares etc would these be fair game for being split between my wife and I once we go through an actual divorce, or will the fact that I''d have built them up a decent amount of time after the separation and the fact that I''ve been providing her with financial support anyway mean that they were safe and wouldn''t be considered as part of a divorce settlement?

Any advice would be really helpful.

Thanks in advance.

  • TBagpuss
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19 Sep 12 #356683 by TBagpuss
Reply from TBagpuss
The court has the power to look at any assets which either of you has at the time ofthe financial settlement, but the aim is to achieve a settlement which is fair to both of you, taking into account all of the corcumstnaces, which would include the length of time you have been separated, and when and how the assets have been built up. The court is also entitled to consier your respective needs, and the needs of your child.

It is unusual to be payign spousal maintenace to somone who is in a new relationship, so that is also something you may wish to review.

If you have been separated for 2 years, is there any reaon not to move along with the divorce now, befor it becomes too much of an issue? Alternatively, consier looing into a Deed of Separation to sort out the financial issues.

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