Finances on divorce

[Bluebirds16]

Hi my H and I have been separated for over 4 yrs we have 2 sons now age 18 live with me 24/7 in marital home. H lives with his mother pays no rent only own food. For the last 3 years I have paid mortgage bills food etc H only gave me £70 a week for lads. There are 3 yrs left on mortgage (yippee) I am 55 he is 53. He now wants half of equity in house but I reminded him that pensions and savings need to go in pot too. Now he says I'm trying to screw him!! My question is as I paid the mortgage myself for the last (more than) 3 yrs and will continue for next 3 yrs surely that comes off the equity? He can't have half of what he hasn't paid? And should his pension be used to offset the mortgage or should it be shared? I bought the family home when I was single in 1995 and H moved in in 2002 we got married in 2007 and I put his name on mortgage and deeds!!!! He moved out in 2013. Any advice please.

[infragilis]

The good news for you is that you were married and so you come under marital law and not contract law. I know this because we weren't married, I paid 98% of the house, she paid 2% and is taking 50% of the house because her name's on the deeds. We fall into contract law because we weren't married. Under marital law they usually take 50% as the starting point and then consider things such as mortgage servicing, savings and pensions afterwards to reach a settlement. Get your free half an hour with a solicitor (you can even do it on the phone in your lunch hour) and you'll be better informed and probably have less worry.

[LAMATA39]

Hi, my husband and I separated in 2009 when he went to live with a family friend. My children are now 16 and 19, the eldest at uni. The 16 year old is now working so I am now looking to sell the house, pay off my ex and finalise my divorce. My ex has not paid his part of the mortgage for nearly 3 years and has paid no upkeep to the house, despite leaving it in a bad state of repair (work that he had done badly). He is now asking for 50% of the equity. I need to move on and provide a house for my children, they will not live with him. Also he has been living with his new partner and her 3 kids, sharing all outgoings and I am living on one income. He is being very persistent about taking the 50% and just wanted some advice as to where I stand? Seems unfair that 1 person who has not contributed much walks away with 50% and 3 of us have to share 50% for a new home? Thanks

[Bluebirds16]

To my mind my H is not getting 50% of what he hasn't paid. I've calculated the yrs we were together as a % of the 25yr mortgage and will offer him a % of that. So for example, I lived alone in the marital home before I met him and paid for everything for 7 yrs and since 2014 to date and until mortgage is paid off in 3 yrs so altogether I have paid for 13 yrs on my own, he's not having half of that!!! We share 12 yrs of the 25 equally which is 24% each of the net equity and I have the remainder as I paid it all. This is without me taking a share of his pension and savings. If he doesn't accept I will go for a share of them.

[Everytimeref]

Actually paying the mortgage won't necessarily mean your entitled to a larger share. Half of the payment will be considered as paying "rent"

[AJPTaylor]

once you marry the starting point is 50/50. but if either of you have pensions they should be properly valued. my mates husband had an raf pension that was equal to the equity in the house. she kept the house, him the pension.

[Bluebirds16]

Sorry don't understand what you mean by this???

[NotSureIfiAmWell]

AJPTaylor - that's what I'm hoping to do with my stbx

[Bluebirds16]

My aim is for his CETV and savings and future inheritance to come in at more than the equity in the house plus he earns much more than I do and our twin sons only want to live with me 24/7 so I want him to sign the house over to me and he can keep his stuff. Incidentally he has saved thousands since 2014 when he stopped paying anything towards the home and pays no rent at his mothers and only pays for their food shopping. Mmmm interesting!!!

[Snog]

Future inheritances are always disregarded which can seem unfair

[Ineedfun]

Not sure how future inheritance is relevant? He may be left nothing, people change wills all the time.

If he has saved thousands then this will get out into the pot too - it's all marital assets.

The fact you paid the mortgage on your own before marriage is irrelevant. Once you marry is an asset of the marriage.

[Bluebirds16]

I don't want it accounted on a pound for pound basis just think he should only have half of what he's paid for the years he's paid, not the years I've paid. Regarding future inheritance :-
Can my ex claim my inheritance? Four key questions answered
Are future inheritances considered where sharing marital assets?
If one person is likely to inherit money in the near future – for example, from a sick, elderly relative or dying family friend – then a future legacy could be included in the pot of funds to be divided. However, whether such an inheritance would be considered depends in particular on how certain is the receipt of the anticipated legacy, and how far into the future it will be received.

In some cases it may be that settling financial issues is adjourned until an inheritance is received. However, while there is no absolute timescale, the key phrase in law regarding any future resources is “the foreseeable future”.

[MrsBertBibby]

Seconded. Please get proper advice Bluebirds. Snippets other posters have picked up from their divorces are useless at best, and dangerous at worst.

[Bluebirds16]

Thank you