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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34581
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 am currently in the process of divorce and financial matters

Resolved Question:

I am currently in the process of divorce and financial matters dispute with the final hearing set for 3/4 Dec 2015. I am currently litigant in person. My wife and I have two children aged 8 and 10 and our joint assets are approx 550k with very little of that in her column.
My wife's uncle recently died in 2012 and i have just discovered the Grant of Probate or will was just under 50 million left to his two children and his wife, my wife Auntie.
My wife's mother is also very wealthy with an estate valued around 5 to 7 million.
My question is whether this family money or inheritance prospects on my wife's side will be considered by the court at a final hearing and will affect any decision of the settlement.
Also the my wife and children still live in the former FMH that is on my wife's family estate, we live their together for 8 years, but the property is not in her name, it is in her mother's name. Effectively she is housed but is claiming that she now needs housing elsewhere. Will this be considered by the court or is it always my responsibility to house my wife and the children?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
HiThank you for your questionMy name is ***** ***** I shall do my best to help youFor clarity - the £50 million relate sto another branch of the family altogether - is that correct?
Customer: replied 2 years ago.

Yes, the £50 has been inherited by my wife's Auntie, sister of my wife's mother, both still alive.

Expert:  Clare replied 2 years ago.
What are your assets made up of?
Customer: replied 2 years ago.

My assets are 4 x Investment properties with a net asset after mortgage redemption of approx 275k but after CGT of 95k a net asset of 180k. All purchased by myself in the mid to late 1990's prior to the marriage in 2001. And a detached property where I now live with equity after mortgage redemption of approx 220k. Total net assets of approx 400k.

My wife's assets in her name are a field valued at 65k and saving of around 30-40k, her total say 100k.

I hope this makes sense.

Expert:  Clare replied 2 years ago.
How much will a suitable property in the same school area cost to buy
Customer: replied 2 years ago.

A suitable 3 bed property would cost approx 300k to 350k

Expert:  Clare replied 2 years ago.
The wealth of your ex's Aunt is not relevant to your case - and her Inheritance prospects are of very little relevance unless her mother is closeto the end of her life.The fact that she has always lived in her current property is a good argument for restricting her claim to 50% of the assets since itseems highly unlikely that she either needs or intends to moveI hope that this is of assistance - please ask if you need further detailsClare
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