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Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I have a question about what my husband is entitled to -

Customer Question

Hello Pearl - I have a question about what my husband is entitled to - from our assets once we divorce
Assistant: Thank you. Can you provide any more details to help us find you the right Expert?
Customer: We have been married for 10 years with 2 children under 7. I bought my own home in 2003. We met in 2004. We lived together in that home for 2 years with him contributing to the household costs. For the last 6 years we have rented a house. My house is rented out. The mortgage is paid for by the rent. Nothing from our household is paid towards its upkeep. The mortgage is in my name only. Is that the info that you need?
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.

Hi, thank you for your question. Just a bit more information required to fully assist you:
-Are you in England or Wales?
-How old are you both?
-What are the proposed arrangements for the children?
-What is the value of the property, and what is the outstanding mortgage?
-What other assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?

Customer: replied 1 year ago.
We live in England
I am 40 - he is 37
The children are living with me. He currently does not live anywhere where its appropriate for them to overnight with him. All visitation is at the (rented) house we used to share together
The outstanding mortgage on the property is circa £127,000. Its value is circa £290,000 (but that's a guess).
We don't have any other real assets. We both have final salary pensions with our employer. I'm not sure of the value of either of them.
I earn £61,000 per year. My husband's salary is approx. £42,000 per year.
Expert:  Harris replied 1 year ago.

Thanks for confirming. You will both need to provide each other with full and frank financial and income disclosure, as well as disclosure of your reasonable needs. The Court's starting point is a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. As you appear to be the main carer of the children your their needs will be a priority as you will need to meet the children's needs first and you will have good argument to remain in the property for the children - such orders can include a delay of sale until the youngest reaches a certain age (eg. finishes education), after which for the property to be sold or him to be paid off for his interest. For your information the criteria considered by the court in these matters is:

1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;
2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
3. The standard of living enjoyed by the family before the breakdown of the marriage;
4. The age of each party to the marriage and the duration of the marriage;
5. Any physical or mental disability of either of the parties to the marriage;
6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;
7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;
8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you

Expert:  Harris replied 1 year ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.