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We have 4 houses rent 3 out 500 each l get 1000 to live on don't work my wife gets 500 and she works and gets 800 a month all bills 50\50 and we live together in 4 house all houses are all paid in full we have 4 kids 27 21 19 17 in December we have been married for 29 years
HelloThank you for your question. I'm a family solicitor and able to help.The correct process for dealing with the matrimonial finances and division is to go through a process known as full and frank financial disclosure. Yourself and your wife need to exchange full details of all assets ( including pensions) and liabilities before negotiations take place in relation to settlement.The normal rule for division is 50/50 however the matrimonial causes act sets out factors which could lead to a departure from this rule. A few examples are the likely earning capacity of both of you for the future, health needs etc.I note that your are already engaging with mediation. They can assist in relation to the process of disclosure and also in relation to negotiations about division.If agreement cannot be reached then an application would need to be made to the court. You can not make an application to the court until you have at least attempted mediation first.It is important that no division takes place until a court order is obtained. If division is agreed without the need to apply to court then you should submit a consent order for Judicial approval prior to division and obtaining decree absolute. Not doing so could leave you open for a future claim.You need to have obtained decree nisi (in divorce proceedings) before a court can make an order or approve a consent order.Either of you are able to make a financial claim if the future if you do not resolve the issues.
As your daughter is 17, you and your wife could discuss who she is going to live with following divorce. I note that you have 4 properties and it may be that as part of the finaical settlement one fo your retains and remains living in the family home. Perhaps your daughter would prefer to stay there? if not, perhaps new properties will be bought when if the properties are sold. At 17, this should not prevent you dealing with the matrimonial finances in a way that works best for you and your wife.Kind regardsI would be grateful if you could kindly rate my answer. Positive ratings are gratefully received as I have only just started as an expert on this site. Thank you