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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2447
Experience:  Over 5 years in practice.
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The marriage has been going for 10 years, living under the

Customer Question

The marriage has been going for 10 years, living under the same roof more or less but not sleeping together by using different rooms because it was not financially viable (until hopefully soon) to find separate accommodation in preparation for a divorce which has been put off time and time again. When it comes to a financial settlement at what point in time are assets calculated? At point of 'separation' and if so how in this case could the time of separation be decided? All assets are in the Husband's name and built up from the Husband. This is an issue as in the last 6 months the value of the Husbands asset's have grown significantly. The wife has never contributed towards any costs of living, the accumulation of assets including the main home. In this case what would be considered a fair settlement or how would it be worked out?
Submitted: 3 years ago.
Category: Property Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question
My name is Clare
I shall do my best to assist you but I need some further information first.
How long have you lived together in total?
How much is the house worth and how much is outstanding on the mortgage?
What other assets and debts are there and what income do you each have?
Clare
Customer: replied 3 years ago.

11 years


The house is worth 550K, mortgage is 270K,


I have 300K worth of other assets, she has 30K


Bare in mind this has not been close to a normal marriage in that seperate lives have been led specially in the last few years and only stayed under the same roof due to financial reasons and / she would not leave easily

Expert:  Clare replied 3 years ago.
Hi
Where have your substantial assets come from?
Clare
Customer: replied 3 years ago.

Most has come from the last 5 years of my business (consulting) where I have had a good run and through this I was able to purchase 2 more properties making a total of 3. Not only was all assets through my own finances but all time and effort most weekends and nights searching properties, managing the mortgages, finances, handling the rental etc. Her on the other hand have been contributing not only nothing to the asset accumalation but none to the cost of running the household, including all costs such as private health insurance, bills etc less the odd tesco shop should would buy. We have essentially been living seperate lives but under the same roof. The prolonged marriage has only meant she is legally married whilst my wealth has built up but in reality actually separated.

Expert:  Clare replied 3 years ago.
Hi
Are there any children involved?
Clare

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