Financial Situation

Hi

i am currently looking to start divorce proceedings but wanted to gain some advice about how the finances out of the house would be likely to split.

Your respective ages; me - 54, her - 52

The number of children you have and their ages; 2 children, 26 and 22

How many nights the children spend with each parent; my son sees each of us about once every month and my daughter lives with me and does not see her mother

The length of your marriage and any period of pre marriage cohabitation; 34 years married around 3 years pre marriage

Your respective incomes; mine around 50k, hers - 27k

Your respective outgoings; i pay all mortgage £1300 plus bills and groceries etc, car expenses, and insurances on the mortgage for myself and her

Your assets - both soley held and joint;

we took out a new mortgage two years ago for our new home. i have always paid the whole mortgage and bills with her basically contributing nothing (mug i know!). after six months she told me she was unhappy and moved out a week later, taking around 90% of the furniture i paid for. i gave her half of the deposit paid into the house (£8,000) which i had originally put in with nothing from her. i have paid for half her car which she took. i asked her for permission to sell the family home as the mortgage and bills were getting too much for me to pay. she now wants half of what's in the house, which i feel is unreasonable.

Please could you advise what my next step would be and if she is likely to receive anything under the circumstances.

Many thanks.

Hi soontobe1,

Should you go to court with a total 37 years of sharing your lives, the individual and jointly held assets will be all considered as 'joint'.

The children are adults and not dependents.

The question for the two of you is how to rehouse yourselves and continue your respective lives. Ideally you should both try and agree affordable and comparable housing, such a two bedroom place together with provision for retirement; you do not mention pensions.

I would suggest you draw up a budget for yourself and your wife to achieve the above and ask her to do the same. I do feel it helps promote understanding and lessens scope for argument if each spouse can give a little bit of thought to how the other might have to live.

Next, you talk to each other, be conscious of the fact that if you cannot agree a split then one may apply to the court to have it done. No matter what you and your wife think you are owed, the court will in all probability lump every thing you each own into one pot and split it 50 - 50. You may also end up paying your wife spousal maintenance for the rest of her life.

Regards,

YA