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Settlement advice

  • HH678DT
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06 Dec 22 #520272 by HH678DT
Topic started by HH678DT
I am looking for some advice regarding a settlement proposal received.

Your respective ages;H 34, W 39

The number of children you have and their ages;1 girl aged 2 years

How many nights the children spend with each parent;Full time with W
Some overnight visits with H

The length of your marriage and any period of pre marriage cohabitation;pre marriage cohabitation 1.5 yrs
married 3.5 yrs,
Your respective incomes;H £3,750 net PCMW not working, recently resigned from job, has always previously worked full time. £600 CMS, £85 Child benefit PCM

Your respective outgoings;Assumed situation post settlement:W £1,800 PCM (inc. house expenses but mortgage free, living/ travel expenses, holiday allowance, main carer of child)H £3,600 PCM (inc. house expenses, mortgage, living/travel/commute expenses, holiday allowance, CM payments)

Your assets - both soley held and joint;FMH – net equity £330,000Rental – net equity £245,000H cash & investments - £40,000W cash & investments £7,000W pension - £62,000 CETVH pension - £78,000 CETV

Both have suitable carYour liabilities. N/A

Offer for settlement is to sell FMH, H receive £150,000. W to keep remaining equity and the rental.
each keeps cash & investments
each keeps own pensionsAny advice greatly appreciated

  • Rickoshea
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07 Dec 22 #520277 by Rickoshea
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What are the grounds/reasoning that the capital/assets (excluding pensions as they seem reasonably equal) is being split 70/30 rather than 50/50?

  • HH678DT
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07 Dec 22 #520278 by HH678DT
Reply from HH678DT
Only reasons to depart from 50/50 are young child and income/earning capacity difference

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07 Dec 22 #520279 by HH678DT
Reply from HH678DT
Departing from 50/50 means the W and child can be housed mortgage free, however any further than 70/30 would mean H cannot re-house properly even while maximizing borrowing capacity. And how does the W job situation affect this?

  • WYSPECIAL
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10 Dec 22 #520285 by WYSPECIAL
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How much is a two bed house in your area?

What is the original source of all the assets? It seems a lot to have accumulated in five years at a young age.

  • HH678DT
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10 Dec 22 #520287 by HH678DT
Reply from HH678DT
2 bed approx £380k
H contribution approx 200k to FMH
W similar contribution invested in rental all contributions sourced from prior property/ inheritance/ savings etc

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