Divorce and splitting assets

VyEu

The starting point for division of assets is 50/50 but deviation from that it possible based on things like length of marriage, income of each party, other resources etc. the housing needs of the kid(s) is the courts primary concern. And don't forget the pensions, that's included toi

BAFE

When you get married does your wife automatically inherit 50% of what you have? What’s the criteria? So she can just get all that wealth just by signing a marriage certificate and being a wife? Does it work other way around?

No, your wife doesn't automatically inherit 50% of what you have when you get married.  In the event of a divorce however, the starting point for the division of assets is 50%.

Emmia

akkers said:

When you get married does your wife automatically inherit 50% of what you have? What’s the criteria? So she can just get all that wealth just by signing a marriage certificate and being a wife? Does it work other way around?

In the event of your death without children your wife (or husband) gets the lot automatically, If you have kids it's the first £325k automatically. This is in the absence of a will.

sheramber

Emmia said:

akkers said:

When you get married does your wife automatically inherit 50% of what you have? What’s the criteria? So she can just get all that wealth just by signing a marriage certificate and being a wife? Does it work other way around?

In the event of your death without children your wife (or husband) gets the lot automatically, If you have kids it's the first £325k automatically. This is in the absence of a will.

Not quite, assuming in England and Wales

https://www.gov.uk/inherits-someone-dies-without-will/y/england-and-wales/yes/after-jul-2023/yes

If the estate is worth over £322,000

The estate will be divided between the husband, wife or civil partner and the children of the deceased.

The husband, wife or civil partner gets:

• up to £322,000 in assets, and half of the rest of the estate
• all of the personal possessions of the deceased

The children of the deceased are entitled to a share of the half of the estate above £322,000.

DullGreyGuy

akkers said:

When you get married does your wife automatically inherit 50% of what you have? What’s the criteria? So she can just get all that wealth just by signing a marriage certificate and being a wife? Does it work other way around?

The default position is everything, from both parties, is divided 50/50 on divorce. If the parties agree some other split is reasonable and both have their own legal advice then the courts normally will agree to it but the judge can interject if they have concerns that a 99/1 split doesnt seem reasonable. 

If the parties can't agree then the judge gets involved and the parties have to argue why they think it should be anything other than 50/50. In the case of a very short relationship (premarriage and marriage) they may accept that if assets were predominately from before the relationship that maybe they should be split in a different way but the longer the marriage the less likely it is. 

As others have said, the time to think about it however is before you get married and decide if you do actually want to get married. 

hob_nob_bob

akkers said:

Sorry wrong use of words. I am talking about claims after divorce. 

I am referring to a couple that got married 3 yrs ago. Before the marriage the guy had his main house (on mortgage), another house paid off that was he was renting out plus a fancy car. They got married and the woman came to live with him in his house. They did have child in 3rd yr. All along the husband paid the mortgage, bills, food…..everything basically even a few hundred quid pocket money for her every month.  She continued the job she had before the marriage; the salary went straight to her bank account. She did not contribute a single penny to running of the household or any of the assets the husband bought (a new expensive car).
the situation looks pretty bad now and it appears she will fly the nest and a divorce claim would follow.  My understanding is she will go for 50% of husbands assets?
my question is can she claim since she did not contribute anything, not even a single penny and racked up her bank account from her salary and the pocket money she was getting whilst her husband paid for everything?

If they share a child, his wife will have had a period of maternity leave, providing childcare for the family at no cost with little to no income herself (statutory maternity pay isn't even minimum wage); not to mention loss of/reduced pension contributions which will impact her for years to come. Not only that, she literally risked her life to bring their child into the world. 

Life lesson to your 'friend' - don't get married if you don't want to share assets.

akkers

'...consider whether the alternatives are any better'. 

So what are the alternatives? Not get married? I guess a pre-nupt agreement does not hold much water in the UK.

Hoenir

akkers said:

 I guess a pre-nupt agreement does not hold much water in the UK.

Correctly drafted and with both parties having legal representation at the outset.  They can be watertight. 

VyEu

Hoenir said:

akkers said:

 I guess a pre-nupt agreement does not hold much water in the UK.

Correctly drafted and with both parties having legal representation at the outset.  They can be watertight. 

No they're not. But it's also not true to say they don't hold much water, they very much do.
But the courts won't uphold a pre nup which leaves one party unable to meet their basic housing and/or income needs (and that of any children of the family). Legally binding prenups don't exist (which some people then mistake as not being worth it, which is wrong)

izawa

pls don do divorce