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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My wife wants to separate. We have been married 6 years. She

Resolved Question:

My wife wants to separate. We have been married 6 years. She is american and i am british. We have a 4.5 year old boy and a 13 months old baby boy.
Financially she makes £90k a year and i around £24k ( i work from home and have been looking after the kids). I am set to inherit around £500k in the next 6 months.
My question is:
a) who is most likely to keep the children (i would like to)?
b) can she take the children away from me?
c) How would separation affect our finances and my inheritance?
d) she is contemplating a mortgage in her name only of £498k (she has asked me to help her with the £55k deposit using funds from my inheritance) how would my deposit be affected if separation goes through? and would i also be liable for the mortgage considering she got it whilst married?
Many thanks.
Submitted: 2 years ago.
Category: Law
Expert:  DrJackiePhD replied 2 years ago.
DrJackiePhD :

Hi--I'm Dr. Jackie. I'm a relationship expert. I would like to help you, but my expertise is in helping people with relationship issues. Do you want me to forward this to our legal department? It seems like you are asking questions that deal more with family law than relationships per se.

Customer:

yes please. many thanks

DrJackiePhD :

Sure--doing it now.

Customer:

i guess someone will get in touch with me soon?

DrJackiePhD :

I sent it to legal--someone else also sent it to legal ahead of me. So yes, if you can wait, I'm sure someone from legal will get in touch as soon as you can!

Customer:

ok thanks

Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Who owns the property that you currently live in
Clare
Customer: replied 2 years ago.
We currently rent
Expert:  Clare replied 2 years ago.
Hi
What other assets are there?
Clare
Customer: replied 2 years ago.
A car, furniture and personal belongings. My inheritance I.e £500k will either be in the form of a house or cash in the event that it needs to be sold. Note: Both her parents have passed away and she did not inherit anything from them.
Expert:  Clare replied 2 years ago.
Hi
Has your wife said how she would wish to share the care of the children?
Clare
Customer: replied 2 years ago.
We talked about 50/50. A week with her and a week with me. To be honest it would be best if they lived with me as I work from home. The youngest currently goes to daycare from 8-6pm and the eldest starts school (reception year ) in September from 8:30-3:30 or 4:30 with after school workshop. Since day one I have done the school runs (takes me approx 1.5 to 2 hours a day). She works in the city and we live in Fulham.
Expert:  Clare replied 2 years ago.
Hi
Has she said that she will accept the £55,000 in full and final settlement?
Clare
Customer: replied 2 years ago.
No, there has been no talk about settlement or what she expects financially. She mentioned however but perhaps that could change unless it was put in writing that she wanted the £55k to be a loan to her.
Expert:  Clare replied 2 years ago.
Hi
So far as the children are concerned the suggestion that she is making is one which is quite hard for the children - there has been Australian Research that confirms this
As parents it is assumed that you and your wife will be able to reach agreement about what is best for the children - using family mediation (www.familymediationhelpline.co.uk)
If no agreement can be reached then one of you will have to apply to the court for a Child Arrangement Order
In general terms the court favours the Status Quo - which in your case is that you have the day to day care of the children
The fact that you are receiving a substantial inheritance after the decision to separate would have made it unlikely that your wife would have a claim on it - however since it will form the only capital asset I believe that the court would give her a share - so offering her £55,000 in full and final settlement could be wise
I hope that this id of assistance - please ask if you need further details
Clare
Customer: replied 2 years ago.
Thank you. How big a share considering that she earns much more than me, considering that she has a pention (I don't as I have never been employed only self employed and have made no contributions) At 45 and never having had a job it is unlikely I would get one at least one that pays well. In view of this do you foresee me having to pay her maintenance? She is also considering getting her British passport, would this make her position stronger?Also as previously asked what happens to my deposit in the event we separate (if no loan document or final settlement document signed)? If loan then how is the loan treated in the event of separation?. If I give her the deposit and she gets the apartment then potentially she would own a place worth 500k . So that being the case and considering that I do not own a place and would not have the same credit facility due to my lower income wouldn't that reduce her share to my inheritance considerably?
Expert:  Clare replied 2 years ago.
Hi
There is no question of your having to pay her maintenance - you may have a claim against her - but sacrificing that to achieve a full and final settlement would be worthwhile.
I am suggesting that you give her the deposit in full and final settlement of her claims - a one of payment and nothing more
You have a substantial Inheritance which will allow you to purchase a property free of mortgage if you so wish.
her property will be subject to a substantial mortgage
Clare
Customer: replied 2 years ago.
Thank you.
If she gets the property in her name without a final settlement or loan agreement in place and we separate what proportion of my inheritance do you think she could be awarded taking Into account her high salary and the fact that she would now have her own place?
Expert:  Clare replied 2 years ago.
Hi
I would expect her to keep the deposit that you "lent" her
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34106
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Clare and other Law Specialists are ready to help you
Customer: replied 2 years ago.

So just to be clear you are saying about 10% of my inheritance?

Expert:  Clare replied 2 years ago.
Hi
Based on what you have said then it is a very rough guide yes
However it can only be the roughest of guidelines
Clare