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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 1756
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Me and my wife are going through a separation. As we have 2

Customer Question

Hi, me and my wife are going through a separation. As we have 2 children ages 6 and 7 who gets what in terms of finance. We are both 50/50 directors of business which is the main source of our income. She has also invested in AIM shares. The house we live is Mortgage Free and our first house which we rent out has I think around 60k left
The children will be living with her.. and with me on most weekends and school holidays
Submitted: 3 months ago.
Category: Family Law
Expert:  Harris replied 3 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?
-What are the proposed arrangements for the children?
-What are the values of the properties?
-What other assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?

Customer: replied 3 months ago.
we are in England
Im 36, she is 32
We have been together since 2004 and got married in 2009
The children will stay here as there main home (not to change much i.e schools) with me 3 or 2 weekends and with me over some holidays.
We purchased the 1st property in 2007 for 91,500, the 2nd (which is the main home) in 2010 for 141,000, sorry Im not sure the value is worth now.
All savings and assets are joint. Most savings are in invested.
We earn about 40-45k each (yearly)
Expert:  Harris replied 3 months ago.

Thank you - given that you have been together for over 12 years, and you have children together and most assets appear to be equalised and similar incomes - the Court's starting point is a 50-50 split of all matrimonial assets 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.

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

Expert:  Harris replied 3 months ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.

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