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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 1920
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I am splitting up from my husband after 36 years married

Resolved Question:

I am splitting up from my husband after 36 years married have 3 grown up sons and 1 daughter aged 16 years who will be living with me . She needs to go to college and university . Our property is worth £380,000 and we owe £70,000 how does this split when we sell . We are both self employed I work in sales my husband owns a business valued at £50,000 running for 2 and half years trying to sell it but I helped set it up and run it
Submitted: 4 months ago.
Category: Family Law
Expert:  Harris replied 4 months ago.

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?
-Who is now living in the property?
-Whose name is ***** ***** in?
-What other assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?

Customer: replied 4 months ago.
in england we are both aged 58years. people who live there myself and husband 2 sons aged 25years and 32years 16 year old daughter. property in joint me and my husband names joint mortgage based on both our incomes when set up when we were both employed .. i have a self invested pension plan with£20,000 husband has private pension £60,000 only other asset is husbands business . husbands income £35,000 mine is £20,000 both self employed
Expert:  Harris replied 4 months ago.

Are both your incomes from the business you refer to, or just your husband's?

Customer: replied 4 months ago.
My income is £20,000 from a self employed sales job but I have spent also about 6 hours a week unpaid to help my husband with the business. His income is between £30,000-£35,000 from the business this is net profit our incomes are separate
Customer: replied 4 months ago.
Just my husbands from the business but I am the one who's instagated our split
Expert:  Harris replied 4 months ago.

Thanks for confirming. Given your long marriage the court will likely wish for there to be equality between you upon divorce and therefore a 50-50 split of all assets. If you are unable to meet your reasonable needs from your income you can apply to seek spousal maintenance from your husband.

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.

If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you

Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 1920
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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