Welcome to Just Answer
I am a Solicitor and will assist you.
Please may I ask:
- what are the assets and liabilities of both of you including pensions?
- how old are you both?
Thank you for your response.
There is a set process for dealing with the matrimonial finances should either of you issue for divorce.
The first step is full disclosure of all the assets and liabilities for both of you. The discussions can take place in respect of division.
I notice that you have considered mediation. Mediation is a good service for helping you both through the process of disclosure and discussions about division. It is a shame that your wife doesn’t want to engage in this process.
In respect of division - whilst it is normally considered that a marriage of less than a year is a relatively short marriage and in normal course – without children- you would be looking at walking away with what you both put in. This is however different in your case as you have been in a relationship for 30 years prior to marriage and even with a few months break four years ago, this is a substantial relationship.
The starting point for division of assets therefore is going to start at equality – that being 50/50.
The Matrimonial Causes Act sets out factors which can lead to the departure of equality. These include but are not limited too – the earning capacity for both of you for the future, the current earnings of you both, future health needs etc etc
It is of course important that you are provided for in your retirement and therefore it is possible for you to argue a larger share of this basis.
It is a balancing act looking at all the factors. Deviation is usually around 10 – 20% depending on the factors.
If your wife wont agree at mediation then you do need to look to apply to court. You shouldn’t divide any assets until you have a court order – otherwise your ex can come back for more.
You should also consider making a will – if you haven’t done this recently. Marriage would have revoked any previous will you had and if you were to pass then your wife would inherit the first £250k and half the rest (your kids will get the rest - if you have kids) and you may not want this to be the position.
Let me know if I can help you further.
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