Divorce- no mortgage, no kids

Ike1

Hi-

My wife and I have been married for 3 years and we have not been getting on at all lately. In addition, next year she will be working abroad for 1 year (I cannot join her abroad due to work commitments).

We are currently renting and we have no children. I earn about £3000 more a year than she does, but I have been working longer than her and have more savings.

If we were to divorce, would our assets (e.g. savings and pension) be split 50-50?

Ike1

Shambler

Not necessarily, its down to each party to decide what they want (if anything) of the other parties assets.

If you are still on speaking terms I would arrange the divorce yourselves and not use solicitors.

sharon_currie

As far as your pension goes, it will be 50/50 from date of marriage to date of seperation - this has to be noted by a lawyer to make it official. My partner is divorcing his wife and thats whats happening from the pension point of veiw. She has about 20 yrs pension and he has 5 yrs but he is entitled to 13 yrs of her pension (this is the time they were married) and she is entitled to half of his 5 yr pension. The contents of the house is split 50/50 as well. If you can sort it amicabally between yourselves,(without lawyers fighting it out in court over who wants what) and lining the lawyers pockets, this would be better but you will still need a lawyer at the end of the day if you both agree between yourselves what you both want then go and see a lawyer and sort it from there. If it does come down to a divorce, you can actually do a DIY divorce which means filling in the papers, sending them off to the court and paying for the court time which is all under £200.

Shambler

Oh, and don't forget to make a 'Clean Break' order so that no additional financial claims can be made in the future.

sharon_currie

Yes as you are both entitled to pay half the debt and you dont want that coming back to haunt you in the feture escpecially joint loans as my oh found out (that he didnt know about)

GreenNinja

Ike1 wrote: »

Hi-

My wife and I have been married for 3 years and we have not been getting on at all lately. In addition, next year she will be working abroad for 1 year (I cannot join her abroad due to work commitments).

We are currently renting and we have no children. I earn about £3000 more a year than she does, but I have been working longer than her and have more savings.

If we were to divorce, would our assets (e.g. savings and pension) be split 50-50?

Ike1

I got divorced 6 months ago and was told by my solicitor that as we had no kids it was very straightforward financially, 50/50 split of all monies, pensions, value of house, etc.

Trust this helps