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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33506
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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I have been married for 11 years no children. I am aged 50

Resolved Question:

I have been married for 11 years no children. I am aged 50 my husband 60 and retired. Our finances have been kept separate at my husbands insistence. Matrimonial pot circa £700 K in my husbands favour and nil in mine ( no debts) . I have worked throughout marriage and paid for food income circa 26K P.A. H (retired GP) earned up to £120K P/A until recently when he retired. Pension Lump sum of circa £360 included in above figure. I assume that some/all of his pension will be ring fenced and remainder divided - any idea of likely division of remaining assetts ? We have had a high standard of living. I look forward to hearing from you
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 was your housing position prior to the marriage?
Clare
Customer: replied 2 years ago.

Prior to the marriage I was living in a self contained flat with my daughter (now aged 23) that was situate on a largish property owned by my parents. I had converted the flat from a stable and because I had essentially "built it" I was living there free of charge albeit I would occasionally do work in the family business. My sister was in the same position. Since the marriage my parents sold that property and purchased much smaller accommodation large enough for themselves and my sister only. I look forward to hearing from you.

Expert:  Clare replied 2 years ago.
Hi
How much would a one bedroom property in the same general area cost to buy?
Clare
Customer: replied 2 years ago.

Dear Clare,

The flat in which I was residing was actually 2 bedroom in a "sought after area" - I would think cost to buy would be in the region of £120 - £150 K . Courtesy of the marriage I relocated to a more "modest" area where "suitable" property can be purchased for say £100K. I need to remain in the current area for work purposes.

Thanks you for your attention to this.

Kind regards

Customer: replied 2 years ago.

It may assist you to know that the matrimonial home is worth circa £380K - in H's sole name and a pre marital assett.

My Husbands classic car collection worth circa £170K was largely acquired during the course of the marriage.

As well as working full time, and paying for food, contributed as far as I could towards property repairs and renewals, and "kept the home"

Expert:  Clare replied 2 years ago.
Hi
How is the balance of the £700,000 made up?
Clare
Customer: replied 2 years ago.

Broad Estimate:-

£380 K matrimonial Home

£170K Classic car collection

£15K Rolex

£80K Savings and investments

£360K Pension Lump sum

Sorry we haven't done any disclosure yet so I hadn't really tried to "sum up" previously. All above in his sole name. I don't have a pension as I had relied on eventually getting "looked after" under his pension scheme.

In terms of my bank account I really only have circa £2 K and a rolex say £2 K , my car is modest ford focus !

Expert:  Clare replied 2 years ago.
Hi
Since your brought no capital to the relationship and yours is a medium length relationship your claim is limited to sufficient to purchase a suitable property for you to live in
On top of that you are also likely to receive a small extra lump sum and ongoing spouse maintenance
This can only be the roughest of guides - so please ask if you need further details
Clare
Customer: replied 2 years ago.

Dear Clare,

Thank you for that. What would be the grounds for spousal maintenance please ?

Expert:  Clare replied 2 years ago.
Hi
Spouse maintenance is needs based and based on what your needs and income are - it is not a set percentage I am afraid
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33506
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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