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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34886
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Been maried 32 yrs have assetts and cash approx 1.7 mil run

Customer Question

been maried 32 yrs have assetts and cash approx 1.7 mil run my own family buisness which in started with my late brother 20 yrs ago fron nothing what we have a sixteen year old son whos about to start work , what would be fair settlement Regards Aldo
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the business worth and what income do you each have?
Customer: replied 2 years ago.

Hi Clare, the buisness has no real worth as we do not have any exclusive companies but we make about 300k per year profit but if i wlked away the buisness would fold , we have an income via Dividans of approx 180k per year



Expert:  Clare replied 2 years ago.
How much is the Matrimonial Home worth?
Customer: replied 2 years ago.

hi aprox 800k no mortgage

home in italy 50k approx no martgage

2nd property 150k approx no martagae we rent this for 650 per month to my company

share holding in company 70% me, 30% our 3 sons

250k cash in bank

Expert:  Clare replied 2 years ago.
The starting point for division of the assets is 50/50 - and assuming you wish to keep your shareholding intact it is possible that you will need to give your ex a larger share of the other capital assets - so maybe the matrimonial home and half of the savings
You will also have to pay ongoing spouse maintenance at a level which meets here "reasonable needs" - with reasonable being on the generous side in this case.
I hope that this is of assistance please ask if you need further details