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Asset split

  • smurvin
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28 Jun 17 #493981 by smurvin
Topic started by smurvin
Hi,

I just got my Decree Nisi and I am wondering how the financial Consent Order would work from here.

My details are as below :
Marriage lasted 12 years - 2 children, aged 10 and 4. Husband moved out of house 7 months back when divorce started. House was purchased by me from my pre-marital savings/own earnings completely. I have had a part time job for the last few years due to my younger child requiring attention - he has special needs. I don't have loans and property in my name, have some savings and get tax credits.

H - has property abroad but also mortgage against it. Not sure what his income/expenses are - always been secretive, but guessing
around £60k annual income for him. His property abroad should be worth £150k and guessing mortgage approx £70k

My house value around £300k, savings £70k. Monthly income approx £1,500 including tax credits.

My questions are - how would the financial split work? The calculator said 80:20 but am assuming its not accurate. We did agree that each of us would keep our own assets and not claim anything from the other - no child or spouse maintenance will be given by him. I am fine with it as long as I wasn't expected to pay him anything. But would that be considered fair by the courts?

Also re property valuation, should costs on sale be deducted or is it gross value?

On amounts saved before marriage that I invested into my house property, can that amount be excluded from calculations of common pot for divorce?

Thanks in advance - any other advice would be appreciated.

  • WYSPECIAL
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29 Jun 17 #493993 by WYSPECIAL
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After 12 years and two children everything will be in the pot so you can't really talk about a fair way to split it until you know what the pot is.

How big is FMH compared to your needs?

Where will your ex live?

There can be no bar to the right to claim CM so either of you will be able to make a claim in the future regardless of what you agree now.

  • smurvin
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29 Jun 17 #494000 by smurvin
Reply from smurvin
Thank you.

FMH is a 3 bedroom house just sufficient for me and children. Ex-spouse moved out to a rented property 7 months back and he owns a property abroad

Considering the amounts I have stated above, how much would the split be approximately on a net asset pot of £461k including his property abroad and its mortgage.

Re CMH, who is entitled to pay in the future if the kids are with me? What circumstances can make him claim from me?

Thank you

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