We have been married 9 years together for 10 years. I have two chrildren age 11 yrs and 17yrs booth sen with statements at sen schools neither chrildren are his. His name first appeard on the council tax register after we married in sept 03. The last 6 properties I bought were in the May 03 in my maiden name. hope this helps. Sue. We separate in Oct 12
My assets are as follows: 19 houses purchased in my maiden name prior to marriage. Valuation at auction approx. £45k each less sol/auction fees would be £42K each. There are no outstanding debts/mortgages associated with these properties.
Marital home (joint ownership) value approx. £600K with 2 rental properties on site with tenants in situe. Outstanding mortgage between £330K and £340.00
1 x property (joint ownership) value approx.£120K which is rented out.
My ex husband along with above also has ING a/c/ Investment bonds totalling £110K whereas my savings are depleting rapidly.
My income per year is approx. £25K and my turnover is between £70K/£80K per annum.
My husbands income per year is approx.£32.5K
He has asked re. £250K settlement.
Can you also advise is you are aware of when the Law Commissions report on More about financial arrangements on divorce: a consultation on needs and non-matrimonial property will be made available and how will this reflect or what bearing will this have on my situation.
Also the marital home was my family home which I inherited, there was no outstanding mortgage on this property. A mortgage was taken out on the property and My husband was only added to this mortgage in 2004, following our wedding in 2003.
The assets which I own in my maiden name were purchased through money which I inherited through the death of my parents - how do I stand regarding these assets as obviously this can be proved that although they are in my maiden name they were purchased using these funds.
Also my husband has kept an ING account with a balance of £30K. Although the account is in his name, I am able to prove the the funds came directly from myself. Does this have any bearing?
Lastly the Royal Commission report is due to go before Parliament in November 2013 - how long would you anticipate it would take once the draft bill is discussed in parliament before this comes into enactment?
The ING Account that I spoke to has £30K and on top he has his own investment bonds totalling £100K.
How then does this alter his chances as being higher.
So what is the usual process after the draft bill is heard in parliament.