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18 May 08 #22808 by itsnotmyfault
Topic started by itsnotmyfault
Hi all,
This is a little complicated. I am thinking of divorce and here are the details. Married only 3 years but cohabiting for 5 years before that and together for 10 years before that. In year 2000 I transferred my house into joint our names. At that time it was worth 220,000 with 90,000 on mortage. I bought this house in 1984. Sold it in 2006 for 320,000 and bought another house together. He had and still has a house jointly owned with his ex wife which is fully paid for by him worth 300,000. He has 2 thirty something year olds says that this house will go to his children when he dies, in fact he intends to put it in trust for them. He has an early retirement pension of 18,000 per annum gross and we both live on it as we are both in our late fifties. We have no mortgage now. He has endowments due to pay out in 4 years time worth 70,000 in cash and and an inheritance of 150,000 from his parents estate which he keeps in a separate account and says will go to his two children when he dies. We also have cash assets worth about 150,000 but all in his name. This cash has been built up only since our marriage 3 years ago. We both get our state pensions in 7 years time. I have four children ranging from 21 to 34.
Will any of these assets be taken into account
as joint assets or will I only be entitled to half our present home (in joint names). He says that the house he owns with his ex wife is nothing to do with me but at the time I transferred my house into our joint names I had accrued equity of 130,000 which is more than his half of his ex wifes house that he owns jointly.
Sorry to be so long winded. I did say it was complicated.
Thanks and would really like to hear from anyone who can shed some light before I take things a step further.
Regards,
itsnotmyfault

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