Sorted thanks.

Bobby_Applejuice

Thank you everyone.

Rubik

I'm sorry to hear of your situation.

Will you be divorcing under Scots law or English/Welsh law? The answer will make a difference to the advice given.

And how long have you been married?

Bobby_Applejuice

English/Welsh.

Bobby_Applejuice

Been married just over 10 years.

Rubik

It would make more sense for you to divorce under Scots law for a number of reasons - firstly you could use the Simplified procedure (after you've been separated for at least 12 months), it's quicker, cheaper and facilitates a more amicable divorce than a petition under E/W law would (for a start - you would have to be seperated for at least two years to achieve a no-fault divorce, rather than the 12 months for Scots divorce). Secondly, under Scots law, marital assets are those which are accrued during the length of the marriage - (excluding gifts and inheritances) up to the relevant date (the agreed date of separation), whereas marital assets under E/W include any owned in either party's name and often can include pre-marital assets (if the marriage is a long one). Under Scots law you would simply split everything 50/50 (or thereabouts) and have that drawn up in a separation agreement so that it is legally binding. Under E/W law, expect to come away with a lot less than 50% - especially as her earning capacity seems much lower than yours.

You can agree whatever you like without solicitors - but that won't mean it's legally sound, or binding. Perhaps look at what the marital assets are, agree on what is fair (and by fair, I mean to both of you), that neither party will be financially disadvantaged to the advantage of the other, and take things from there. But at some point, and which ever jurisdiction you use, you will need to take the appropriate legal advice.

Bobby_Applejuice

It will be under E/W i'm afraid. If it's not legally sound or binding does that mean there could be ramifications down the line even after the divorce?

We were hoping to do this without solicitors but just wanted my ducks in a row before getting into detailed discussions. For example, if i offer her half my pension and half my share value does that seem fair (i.e. IF she decided to get a solicitor involved or even just some basic advice might they say i'm being fair)?

(her earning capacity is lower but i don't know when or how i'll get job.)

Rubik

It will be under E/W i'm afraid. If it's not legally sound or binding does that mean there could be ramifications down the line even after the divorce?

Yes - and there would be nothing to prevent her from applying to court to resolve the finances - even years later. see Wyatt V Vince [2016]

We were hoping to do this without solicitors but just wanted my ducks in a row before getting into detailed discussions. For example, if i offer her half my pension and half my share value does that seem fair (i.e. IF she decided to get a solicitor involved or even just some basic advice might they say i'm being fair)?

(her earning capacity is lower but i don't know when or how i'll get job.)

The more you can discuss and agree upon between yourselves, the better - but you both need to be fully informed re what the assets are. Pension sharing is one option - but it can cost circa £2,000 or more to share a pension so depending on what the CETV is of your pension, it may worth considering offering her a cash lump sum in lieu of a pension share, allowing you to keep your pension intact.

wikivorce.com is a free divorce forum which specialises in advice on divorce finances - worth having a read of their information.

Jojo_the_Tightfisted

It makes sense to get solicitors involved, because, if nothing else, if she is moving back home, she's going to be presumably giving up her job and will be as unemployed as you? You don't have to engage them to 'fight', just to sort out the legally fair and appropriate amount you each should receive.

enthusiasticsaver

You would usually start at 50/50 so she would need a pension sharing order on your pension and 50% of the shares. I think 10 years would be considered sufficiently long for that to be the case. I would get legal advice though. It can still be amicable with solicitors.

Mojisola

Bobby_Applejuice wrote: »

She has a relatively low-paid job (should be just enough for her to survive) but not much else saved (she doesn't have much of a pension or any savings).

So i'm currently unemployed and living off my pay. Full transparency, i got £100k for my shares and £40k pay.

She might prefer to have more cash now and leave you with the pension - or most of it.

A fair split isn't necessarily half of everything - sometimes money up front to get re-established is more important than some future payout.

Ames

Have you been together much longer than you were married? As you mention children having left home.