Dividing up assets when have multiple properties.

My calculations make it ex has
Property 1 52K
Property 2 45K
Property 3 100k equity. = 197-30K debts, so he has 167K.
You have property 4 48K
FMH 160K
Savings 10K
You have 218K
The pension isn't actually ready cash to spend on a property.

but the pension is an asset that needs to be included in total assets to be divided?

snowbird123 wrote:

but the pension is an asset that needs to be included in total assets to be divided?

Yes, but what I am saying is it is not ready cash available to you to buy a house now

no, you are right.
What kind of split do you think might work out and be fair?
Would we divide up all the value of the houses, take off the mortgages and then after that, take pensions of his percentage? Or how would it be worked out?

I have no idea, I am currently going through court for my financial settlement, when I have had the final hearing, I can let you know!
Good luck

good luck to you too!

I can't see the financial ruin bit !! I would imagine that by selling off properties your income will be reduced overall.
You may not have taken into account CGT and this depends whose name the rentals are in and the tax can be between 18% and 28% of the profits but selling them whilst still married would allow you to gift property to the other half thus getting 2 CGT allowances.
If however you want to keep rental property the holder then takes on the CGT and considering I just sold a house (similar position to yourselves) I personally am looking at a £30,000 tax bill so this has to be taken into consideration..

On a slightly different note and check with an accountant here you do not have to get divorced.
I have 2 separate friends who split from their partners..did a divi up of the assets on separation and got on with their lives.
Both could be accused of having 'affairs' etc but as none had any intention of remarrying they just got on with living.
One split 30 years ago, one 20.
Of course if one wants to remarry ......

This of course means that in the future and one dies there are tax issues but neither is bothered and nor are their 'x' partners.

I know that this may be a funny one but it is one that few younger people consider. Again talk to an accountant. You can place all properties in a family type trust with the children as beneficieries. In effect this is a type of gifting. I took a different route and gifted 2 properties to my daughter and hoped that I lived the 7 years to exempt inheritance tax. I did !!

Much of what is written needs expert tax advice advice but for example what you think your properties are worth is battered by CGT especially if you were to sell more than one per year.