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Marriage breakup and divorce
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To those saying the wife is entitled to 50% of the house, surely that is not classed as a marital asset since the OP purchased it BEFORE the marriage?0
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Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.3
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Raoul23 said:She has nothing in her name. There are 2 assets in my name, the house and my private pension. I guess this means she will be the winner (she will get 50% of the house and 50% of my pension) and me the loser, right?
If it goes to court, will she be forced to agree to the sale of the house so I get my 50% even though I have children under 18?
It doesn't quite make you the loser, as you'll get your freedom and peace of mind back!
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comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.0
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You have not said if you would want joint/full custody of your kids?sassyblue said:because of the ages of the children your wife is likely to achieve more than 50% as it’s highly likely the children will continue to live with and be raised by her until they leave school.
The OP said that the house was purchased, not that it was owned out-right. A mortgage was paid against it, possibly over the 20 years. If a pre-marital asset was assumed would it be the deposit + 2 years? No idea if that is even a done thing.
Why is it always assumed a spousal maintenance should be paid, granted if one of the spose does not work I can see the help required to rebuild if there is no large pot being split. In this case the wife has a business and assets herself, (proof of bank statements showing money sent abroad). I was quoted near 20k for the full works solicitor if things went down the bad road, it would have been cheaper to lose 10k on the split, guess you have no idea what/where the assets are.
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JenB79 said:comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.
This marriage is 20 years long therefore I everything the parties own should be considered an asset of the marriage which is why it’s imperative the OP gathers as much info of the wife's finances as he can before she’s aware they are splitting.
Happy moneysaving all.0 -
JenB79 said:comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.comeandgo said:Off course it’s an asset of the marriage. If the marriage had been a short marriage of less than say three years then the split would be different but after her giving 20 years of her life to marriage then it is a joint marriage asset.All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0 -
JenB79 said:Look up meaning of pre-marital assets. Length of marriage is irrelevant.When it comes to divorce and property owned by one person before marriage, it can be difficult to establish who should get what. If you and your partner get along, the process of splitting pre-marital assets may be a little easier, but if you don’t then it can become long and complicated.
Divorce and Property Owned Before Marriage - Legal Advice (awhsolicitors.co.uk)However, any property which was already owned by either spouse before they entered into marriage may be treated differently and is not necessarily added to the matrimonial pot.
What Happens To Property Owned Before Marriage | Divorce-Online
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What was the reasoning behind her not contributing towards the mortgage at all (even partially) when she was working herself? I'd understand if she didn't work because she was caring for the kids/house etc., but obviously she had a job, you had a job, would make sense to contribute towards your home together?0
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DisablednProud said:What was the reasoning behind her not contributing towards the mortgage at all (even partially) when she was working herself?
For an example, I was vastly better paid than my ex-wife. When she was part time working that money was put aside for holidays and the like. It kinda all goes into the same pot and would all be part of assets. Unless of course wife is giving assets away in order to collect them in a future date...0
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