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Ask Clare Your Own Question

Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33318
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Husband is moving out after 43years of marriage... what are

Customer Question

Husband is moving out after 43years of marriage... what are my rights? who best to go to for advice?

No dependent children... just financial matters...

Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
What is the current financial position of you both?
Clare
Customer: replied 2 years ago.

Very complicated... We are retired own our own home.. and other properties... some with mortgages and a couple wholly owned.

Remortgage on some is due in 2016... we would probably sell them then and then redeem others to be wholly owned. This is our income.

Neither of us want to divorce at this stage... but what is best?

Try and sell everything now and pay capital gains tax..

or

become business partners until 2016... then sell...

Is everything we own split 50/50???

Expert:  Clare replied 2 years ago.
Hi
What is the total net value of the assets?
Were any of them inherited by either of you?
Clare
Customer: replied 2 years ago.

We have not inherited any property from either side...

Total value of our assets is £2,188,250.00

if we sell everything now, if it would be possible

Capital Gain £1,343,000.00

CGTax would be £376,640

After Tax Residue Equity Minus CGT £1,712,610.00

It will probably take 18months to a year to dispose of all the properties... which are rented out and we live off of the income at the moment... if we were to have a clean break...

But we could perhaps form a business partnership for the next two years when we would have to remortgage or sell some of the properties...

My real concern is as it is my husband who wants to leave this marriage as I can't accept an open relationship...

and has decided to leave and is buying a property for himself...

I want to know what I am entitled to.. 50/50 of everything?

Pensions etc...

As I am going to stay in the family home for now at least... is he entitled to have the same amount...as my property is valued at or is it enough that he just has a roof over his head of his choice...

Expert:  Clare replied 2 years ago.
Hi
How much is the Matrimonial Home actually worth?
Clare
Customer: replied 2 years ago.

£625,000

Expert:  Clare replied 2 years ago.
Hi
What is your husband asking for?
Clare
Customer: replied 2 years ago.

He's moving out buying a house for £300,000 and wants another £325,000...

He says that everything we have is to be divided 50/50... that's what I'm entitled to and no more...

He has been having an affair for some time which I believed had ended March 29th this year... He said goodbye to the other woman... and told me it had to end it was stupid all the


aggravation that was around.Things did seem to improving between us.

I had to visit my elderly parents in South Africa in May... and on my return things still seemed ok but I have subsequently found out that he is on some chat line again and has several woman that he meets. One lives quite close to where he's moving to...

What he wants is an open marriage to be able to come and go as he pleases to do what he wants when he wants with whom he wants...

I cant accept this and so he's decided to leave... He is and has always been quite controlling.

So now he goes off and I have no right to ask him what/where he's going... or what time he may be home...
Expert:  Clare replied 2 years ago.
Hi
Where is that money meant to come from?
Clare
Customer: replied 2 years ago.

Selling one of the flats for £375,000 will buy his house... The tenant wants to purchase it...asap...

He says he can borrow sufficient money to cover this in the meantime... short term loan?

Then He says the difference he'll leave in the business if we do become business partners and take it as and when... there is sufficient money...

Expert:  Clare replied 2 years ago.
Hi
Will he transfer the matrimonial home into your sole name at that point?
Clare
Customer: replied 2 years ago.

Think so.. we haven't spelled this out as such.

He accepts that I am going to stay here for now anyway...

Expert:  Clare replied 2 years ago.
HI
Given the length of your relationship the starting point for division of the assets is indeed 50/50 - since this will give each of you ample funds it is unlikely that the court would stray far from this.
I assume that there would be no difference in your incomes if this is achieved - and yes the 50/50 division does indeed also refer to the pension position
Given the tax situation it certainly makes sense for the financial division to be a staggered - but equally it is not unreasonable of your husband to wish to have a property which is worth as much as yours - assuming that it will become your outright
The first step would be to try and negotiate with him using family mediation (www.familymediationhelpline.co.uk) so that the way forward can be decided
I hope that this is of assistance - please ask if you need further details
Clare

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