Does this seem to be a fair finacial settlement?

Intenso

Sadly my 14 year marriage has come to and end.

My wife is now pregnant with another man's child and of course we have seperated whilst waiting for the decree nisi to come through.

My wife is a dual national and plans to return to her home land to raise her child.

We have two children, a house worth £200,000, another property £100K in her home land and I have a pension that will be worth £8k a year when I retire in 10 years time.

My wife has proposed that I keep the house in the UK and continue to look after the kids whislt she takes the overseas apartment.

She isn't interested in my pension and has proposed that I take out a morgage for £40K and that she would accept that instead of the pension being split.

Does this seem fair?  I would be happy to agree as we remain on good terms.

Retireinten

What mortgages do you have on the properties? Any other debts or savings? What about her pension? 

Intenso

Retireinten said:

What mortgages do you have on the properties? Any other debts or savings? What about her pension? 

No morgage on either home. 

The overseas apartment I paid for a few years after we were married and we lived there together for a couple of year.

The current home was my inheritance from my deceased mother in 2017. We lived there together unti our split last August. 

Therefore no morgage on either property.

My wife has never worked so does not have a pension. I beleive she is currently on benefits.

I'm furloughed but my job looks in doubt.

No other savings.

CookieMonster

Sounds like a fair deal. Are you happy with it?
Get it signed off properly - division of assets - by a solicitor so that there is no future claim on what you're left with.

swingaloo2

Does she have plans to pay maintenance for the 2 children you have together?

comeandgo

She is really selling herself short here.  You look at the value of pensions, not how much you get per annum.  I would think to get £8000 per year the value is 6 figure.

justworriedabit

Intenso said:

Sadly my 14 year marriage has come to and end.

My wife is now pregnant with another man's child and of course we have seperated whilst waiting for the decree nisi to come through.

My wife is a dual national and plans to return to her home land to raise her child.

We have two children, a house worth £200,000, another property £100K in her home land and I have a pension that will be worth £8k a year when I retire in 10 years time.

My wife has proposed that I keep the house in the UK and continue to look after the kids whislt she takes the overseas apartment.

She isn't interested in my pension and has proposed that I take out a morgage for £40K and that she would accept that instead of the pension being split.

Does this seem fair?  I would be happy to agree as we remain on good terms.

Only you can put a price on that and then others decide for you.
IMO, someone that cheats, cheats and gets pregnant, personally I'd not give them a penny if I could help it as it was not me cheating.
Another case of why prenups and similar  contracts are a must.
You seem like a very nice guy and like many that are cheated on. Do what you feel is right. 
My pennies worth is, if she agrees to that don't bite her hand off as she may get greedy but agree and put it behind you.
Take care I hope it works out and its all over soon.

Kynthia

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

justworriedabit

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

Kynthia

justworriedabit said:

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

It's something I don't know much about. However I've heard if you want the financial settlement to be finalised during a divorce, which prevents either party coming back for more at a later date, a judge needs to sign off on it. They can be cautious or reluctant to sign off on unequal financial splits, especially if the party with the low share hasn't had legal advice due to concerns that they aren't making an informed and free choice.

This is only what I've heard from others so I'm happy to be corrected. It's also possible for a couple not to get a divorce, or not get a financial settlement done during the divorce, but each choice has it's own advantages and disadvantages. 

Weathergirl_76

I don’t have any advice to offer than get any agreement completed formally by a solicitor, which I am sure you would do anyway, and I am very saddened by what you are going through.