Hi, thank you for your question. Just a bit more information required to fully assist you:-How old are you both?-How long have you been married?-How many children of the family are there, how old are are they and who is proposed to care for them?
-How many bedrooms is the home?
-What is the approximate value of the home and any outstanding mortgage?
-What other assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?-Who is now living in the property?-Whose name is ***** ***** in?
Thank you. How much are each of your pensions worth?
Do you either of you have any other assets at all?
Thank you for confirming. Based on your information thr only likely asset that will need to be dealt with is the matrimonial home. Given the large equity in thr property and there being no other assets it eill be difficult for either of you to buy out the share of the other. Given that you are both of similar ages, there being no defendant's and in the absence or substantial needs, a court will likely see that a 50-50 split would be appropriate. In any event this is the court's starting point and a departure from an equal split will be made based on the criteria below. Furthermore, given that it is a 4 bedroom home, a court will unlikely agree that either of you should remain there solely and will consider an order for sale and thr proceeds to be divided between you.
The court will consider the following criteria when either making and order or approving a settlement:
1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;3. The standard of living enjoyed by the family before the breakdown of the marriage;4. The age of each party to the marriage and the duration of the marriage;5. Any physical or mental disability of either of the parties to the marriage;6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.
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