Divorce and seperate savings

OrangeJuice1

[FONT=&quot]Hi

I've been married 22 years and my wife told me about 15 years ago she wants separate savings accounts which I reluctantly agreed.
We both have worked over the time and use one account where we both contribute equally to pay outgoings. We have 2 kids, one that is a minor.
Over the years I saved my money whereas she hasn't. I also took on a weekend job so I can save for future. I now have accrued a lot more than the wife has. The money I saved is for my children so one day I can assist them with a house/business.[/FONT]
[FONT=&quot]I help my children in terms of education, activities and values, whereas the wife does very little.[/FONT]
[FONT=&quot]She recently made a large purchase, (though I asked her not to as it would impact holidays etc.) and now she wants me to make a larger contribution to the outgoings from my savings (I am no longer in work).[/FONT]
[FONT=&quot]When I disagreed she requested a divorce and said she wants half the house and half my savings. [/FONT]
[FONT=&quot]I am under the understanding that my savings are considered 'marital property', but in my circumstance she is being unethical.[/FONT]
[FONT=&quot]Can the wife claim a 50% stake of my savings under this situation and would she get it ?[/FONT]
[FONT=&quot]With regard to my child (minor), she wants Shared Custody, however I think the child should spend more time with me as I help my child more.[/FONT]
[FONT=&quot]Any advise appreciated.[/FONT]

El_Torro

Considering how long you've been married a 50 / 50 split is probably the most likely outcome. I'm not clear on why you think that is unethical.

TBagpuss

Yes, assets held by either of you are still matrimonial assets, they form part of the 'pot' to be distributed.

You *may* be able to argue that you had an agreement to keep that element of your assets completely separate but it will be a hard sell, particularly given the length of your marriage.
A court has to look at what is reasonable over all, taking into account your respective needs, financial resources, income and earning capacity - do you and your wife earn broadly similar amounts?

In terms of your child, this is separate from the finacial split. 'Shared Care' doesn't automatically mean 50//50 but there is certainly no reason why you can't propose that your child lives with you for a higher proportion of the time.

If you and your wife can't agree and a court becomes involved, the issue is what is in the child's best interests, taking into account their own wishes, the ability of each of you to care for them, (which would include looking at working hours and availability) etc. How old is your child? If s/he is a teenager then their own wishes are likely to be the deciding factor in who they live with.

I would recommend that you see a solicitor to get some proper advice. Look at the 'Resolution' website to find local family law experts in your area.