Wiki Calculation Questions

Hello

I just used the Wikipedia settlement calculator but there is no differential between children of the marriage and step children. I had a child from a previous relationship (now 8) when we married. I don't expect or want STBX to pay child maintenance but put the child into the calculator as I wanted as accurate an assessment on the property side of things as possible.

So - the calculator gave a property split of 60/40 and maintenance to me of c90 per month which I don't want anyway.

I have a few questions...

I didn't really understand the equity calculation where it added total assets and deducted liabilities. I have a loan of 14k that I owe to STBX and he owes c15k on cards and loans.

Is the 60/40 split that the calculator gave AFTER taking these things into account?

Does it work that we each get our relevant share and then we have to pay off our debts from our portions of equity?

If I want to buy out STBX's 40%, would I just get a mortgage for remaining mortgage balance + the value of his 40% or would I have to still pay my loan on top of that?

Does it make a difference that we bought the property a year before we married and contributed different amounts?

Me 30k deposit
Him 4.5k deposit
After marriage, he added a further 15k and put other money into buying furniture / decorating (although my solicitor said that the furniture / decorating funds wouldn't contribute to equity

My solicitor also said they would argue that the current card debt he has only recently run up is not matrimonial debt but for personal use.

Also, if I were to buy his share, is there an allowance type of thing that the court might consider in terms of a ball park figure of remortgage costs, valuation, savings on estate agents fees that I could reduce the awarded split by? Is this how it works?

Thanks for reading

Hi
Please don't pin your hopes on the Wiki calculator it is merely a guide so don't take it too seriously. If you have the funds available wiki has a service where they will take all you information and then advise you what your likely split could be from memory I think it costs just short of £200.
from my recent financial remedy it worked like this

Her personal assets
my personal assets
Add these two together
this is basically now the matrimonial asset ( I have excluded to property to make it easier)
I had matrimonial debts credit cards HP etc.. take this amount away from the total pot and then the balance is divided by whatever you can either agree on or what the judge decides.
The split on the property has so many different aspects you need to get advice hence my suggestion regarding wiki's service

Best Wishes and good luck

Hi. Thanks for your reply. Apart from STBX pension which I'm not entitled to anyway (short marriage / accrued before marriage) there are no other non property assets.

I was actually going to use that wiki service until today when I was told my new solicitor needs 200 on account but old solicitor won't transfer my file until I clear their account. Another 250!

Nothings' simple is it. Thanks though