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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34494
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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Sold marital home in 2004, for £285000 and split final

Customer Question

Hi.... sold marital home in 2004, for £285000 and split final proceeds of £196000 2/3 to wife and 1/3 to myself No legal advice taken at the time. Wife bought house £35000 mortgage. I got £125.000 interest only mortgage. Divorced with no financial order in 2007. 4 children, youngest now 18. Wife remarried a few years ago, and now living in Spain with husband.
I,m 56 with COPD and my ex is 52 in good health. My house is worth approx. £265000 and my ex's approx. £235000.
My looming retirement doesn't look financially viable, and she is renting out her house, and youngest daughter is now living with me. Should I go for a financial settlement, or am I wasting my time?
Thanks.
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 pension provision and income do you each have?
Have you remarried?
Clare
Customer: replied 2 years ago.

Hi Clare,

Thanks for your reply. I have a group personal pension with Standard Life with a current value of approx. £110,000. Think ex may have a small pension from employment at BT and NHS. I would imagine the combined values of her pensions to be less than £20,000, but cannot be certain of this.

I am a director of a small 2 man company and take a nominal wage plus dividend. This amounts to a total of just over £1600 per month net.

I also own a 1/3 share of the business premises, worth around 25-30,000 for my share. This property pays me £150 per month in rental.

My ex has given up work recently to live in Spain. Income is from renting her house out, and from her husbands rental income from several properties.

I have not remarried.

Expert:  Clare replied 2 years ago.
Hi
Then there is little point in your making any financial claim.
Your pension provision is in excess of hers and she has no income.
Given the time that has passed there is little chance of the court awarding you any capital sum given the current value of the capital assets that you each have.
I am sorry not to give better news - please ask if you need further details
Clare
Customer: replied 2 years ago.

Hi, sorry for late reply.

If she has remarried, would my pension still be relevant? I thought remarriage relinquished any claim.