Hi, thank you for your question. Just a bit more information required to fully assist you:-Are you in England or Wales?-How old are you both?-How long have you been married?-Do you have any children together, if so their ages and proposed arrangements?-What assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?
-Do you have any children together, if so their ages and proposed arrangements?
Thanks for confirming. In the circumstances you will need to agree or negotiate what happens to the home. Given it is in negative equity you will likely wish to agree for one of you to remain in the properto avoid paying the shortfall. In relation to any financial relief, given the disparity in income if your spouse is unable to meet her reasonable needs she would be entitled to apply for spousal maintenance from you.
You will both need to provide each other with full and frank financial and income disclosure, as well as disclosure of your reasonable needs. The Court's starting point is a 50-50 split of all matrimonial assets and debts and ensuring that both your needs are met in relation to both assets and income. For your information the criteria considered by the court in these matters is:
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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What was her debt in relation to?
Hi, this question remains open. Please could you provide the requested information so that I can assist you.
You could attempt to pursue her for the debt that you cleared given that it is a non-matrimonial debt which did not go towards the family - however, you will need to consider if she will ever have the means to pay it as well as the likely legal costs to yourself of pursuing this claim.
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