Financial split - input gratefully received

Hi, newbie here unfortunately

Grateful for thoughts, having just used but not really understood the calculator results.

We are 7-8 years from retirement, and I'd sort of assumed that we'd split the assets 50:50 and I (as higher earner) would then pay maintenance (ancillary relief?) to equalise our net incomes through until that point.

I'm not clear quite what the tool is telling me - is it saying that assets are split 60:40 AND then I pay somewhere between £1300 and £2100 on top? If it is both that would suggest I have no realistic opportunity to recover the deficit, which feels pretty tough. Maybe it is!

Grateful for any informed view.

Cheers, M

wikitool inputs / outputs

General:
The length of the marriage was 25 years.
The wife's net monthly income is £1250.
The husband's net monthly income is £4500.
Children: 0
Wife's Monthly Outgoings:
Essential outgoings: 1075
Lifestyle outgoings: 600
Husband's Monthly Outgoings:
Essential outgoings: 1800
Lifestyle outgoings: 600

Assets:
Joint matrimonial property:
- Former matrimonial home valued at £600000
- Chattels valued at £50000
Total : £650000
Wife's property:
- Savings valued at £75000
- Pension CETV valued at £200000
Total : £275000
Husband's property:
- Savings valued at £75000
- Pension CETV valued at £200000
- Pension CETV valued at £360000
Total : £635000

Wife's share: 60%
Husband's share: 40%

Wife's total share of net assets is : £936k
Husband's total share of net assets is : £624k


The Wikivorce estimate for ancillary relief based on the above parameters:

Maintenance calculation based on outgoings data:

The wife has been allocated the following:
- basic (incl childcare) needs £1075
- lifestyle needs £600
A total budget allocated of £1675

The husband has been allocated the following:
- basic (incl childcare) needs £1800
- lifestyle needs £600
A total budget allocated of £2400

The husband should pay the wife maintenance of £2100

Maintenance calculation based on household/childcare data:

The wife has been allocated the following:
- basic (incl childcare) needs £1150
- shared contribution £1150
- share of excess income £288
A total budget allocated of £2588

The husband has been allocated the following:
- basic (incl childcare) needs £1150
- shared contribution £1150
- share of excess income £863
A total budget allocated of £3163

The husband should pay the wife maintenance of £1337

The calculator is pretty crude and I'm not sure it's entirely helpful.

You are correct that after a long marriage the starting assumption is 50:50.

This will be the ending assumption too if 50:50 will accommodate each of your needs, and if there has not been any suggestion that compensation might be due if, for example, your wife had given up a lucrative career in order to be a homemaker or child raiser.

So, would £300k each be OK for housing? If not, then the split might be unequal as you have a greater mortgage capacity (albeit for a short time before retirement.

You are possibly also looking at spousal maintenance for the period up until retirement as your incomes are so unequal, but this will be based on her needs, not just on how much 'extra' income you have. I doubt the sum would be as much as the calculator suggests.

If any of your pensions are defined benefit based then you may need an actuary to calculate the split. If not, I'd be thinking about offering her the £200k one in it's entirety to give her a better pension income, as with your salary you are in a better position to rebuild pension savings from pretax income.