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Vineet S
Vineet S,
Category: Law
Satisfied Customers: 2687
Experience:  Freelance Solicitor at Self Employed
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I want to sort out my finances with my ex and want to knoe

Customer Question

I want to sort out my finances with my ex and want to knoe my position?
JA: Where are you? It matters because laws vary by location.
Customer: cardiff, wales uk
JA: What steps have you taken so far?
Customer: divorced, child arrangments order are done
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: no
Submitted: 17 days ago.
Category: Law
Expert:  Vineet S replied 17 days ago.

Welcome to Just Answer, I am a solicitor in England and Wales and I will be dealing with your case today.

Kindly note, I am not available for phone calls at the moment, however I can easily assist you via this online chat.

I will go through your question and will get back to you with my answer shortly.

Meanwhile, please ignore any phone call request pop-up, they get generated automatically without any input from the expert, so I have no control over these requests.

Expert:  Vineet S replied 17 days ago.

Hi there,

Assets are either:

  • matrimonial assets - money and property you or your ex acquired during your marriage

  • non-matrimonial assets - money and property you or your ex acquired either before or after our marriage

the matrimonial assets gets divided equally between the parties at the time of divorce, however, there are no hard and fast rules regarding division of assets on divorce. When dividing assets the Court, takes into account of various factors which are known as Section 25 factors (Section 25 of the Matrimonial Causes Act 1973).

These factors includes:

  • Income and earning capacity, property and other financial resources that each spouse has or is likely to have in the foreseeable future.

  • The financial needs, obligations and responsibilities, which each spouse has or is likely to have in the foreseeable future.

  • The standard of living enjoyed by the family before the breakdown of the marriage.

  • The ages of each spouse and the duration of the marriage.

  • Any physical or mental disability of either spouse.

  • The contributions that each spouse has made or is likely to make in the future to the welfare of the family.

  • The conduct of each spouse, if that conduct is such that it would be unfair to disregard in the opinion of the Court.

  • However, the first consideration before looking at any of these factors will be the welfare of any children of the family.

Expert:  Vineet S replied 17 days ago.

If you need further assistance, please let me know.

In the meantime, thank you for using Just Answers. Best wishes.

Customer: replied 17 days ago.
I want to clear something- I earn 25k and have my own house in my sole name, wife is working in another city and earning 21k , she is paying car installments and one personal loan we took out in her name , our son is living with me and she is paying me child maintanence as well, I have spend 10k on solicitiors for child custody as my wife put some false allegations against me which are not proved and case is closed. we both are 36 yrs of age and married in 2012, she started her job in 2018 sep and since then living in another city, I want to ask you on this basis how much share in assets she can have roughly and I have my debts as well as 10k i borrowed from someone on interest and have to pay back plus my credit cards of around 4k so I have £13k in debts and same with her , what is the best in this scenarios you think should be solution if we settle it mutually. Please ask me anything if u need to know. Thanks.Sikandar
Expert:  Vineet S replied 17 days ago.

So, first of all both of you are working , so there will be no spousal maintenance.

Regarding the house , if it is purchased during the marriage, then it would go into the matrimonial pot, and your wife can ask for the half of the equity.

Otherwise, if it is not going in the matrimonial pot, then your wife can ask for the equity if she has paid towards the deposit, mortgage payments/and improvement /repairs.

Court can also ask you to give equity from the house keeping in consideration the housing needs of both the parties and there is not enough matrimonial assets , then non-matrimonial assets can be taken into account.

Customer: replied 17 days ago.
it was bought during marriage, She did not contribute anything toward house and my dad paid me deposite, I paid around £30k for her visas and settlement in this country, she did not pay anything for that , equity is just 40k and my son is living with me from last 3 years and I was doing everything for him, is it still 50 50 assets, she is living in company's accomodation for which she pay less including bills and all. If I give her half the assets then her all debts will be cleared and I will be the one who will paying for everything and she will save all her money.
Expert:  Vineet S replied 17 days ago.

Court will only ask you to give equity from your house to your Ex only if she is struggling with her housing needs, and has not enough funds .

If she has a company provided accommodation, then court would not be asking you to give her equity from the house.

Customer: replied 17 days ago.
she is living in studio flat but she is paying rent for that, that accomodation is only for staff though, will court ask me to give her money to buy house ??
Expert:  Vineet S replied 17 days ago.

Not from the given input.

Customer: replied 17 days ago.
Ok, Thanks Alot
Expert:  Vineet S replied 17 days ago.

You are welcome. Have a nice day.