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Financial arrangements second divorce

2 replies

Screwed2 · 16/04/2025 01:25

Hi
I'm getting divorced again. 2nd wife married 10 years together 14. We are both early 60s.
We both have 2 adult children, hers self dependent, mine both have a disability.
She had a good divorce settlement with a house and a pension pot of 500k overseas. We lived in UK rented up until 6 years ago paid by me. She contributed to food bill and put some money towards house most of which i gave her back when i got my lump sum pension when i retired and returned to work. She doesnt work now and has returned overseas, has her 3 bed house and pension pot which she 'doesn't want to touch'.
I earn 120k and have a pension of 40k pa still working full time. The value of my pension probably increased by 250k during the time we were together.
Our joint assets are basically a house net value 450k after mortgage paid in Uk. I have a pension fund valued around 700k.and some directors loans to another business of 120k.
I also have a recent new business venture which could make a lot of money in the future in which she has had no involvement.
She says she wants 50% of that too
I have given her an allowance equivalent to half my pension every month.
. Neither of us performed duties to allow the other to pursue their career, and she had little input into my kids care when they were with us.
Any thoughts on whether this is likely to be a 50 50 split, a back to previous situation or somewhere in between.
I think an equitable thing would be to look at where we started, take into account what we have gained or lost since getting together, and ensure both can live comfortably in retirement in our own homes. She seems to think I should work forever

OP posts:
FlowerWrath · 16/04/2025 05:36

Get good legal advice, hopefully as their are no kids the courts will be fair to you.

RareGoalsVerge · 16/04/2025 05:46

A marriage contract means tying together your financial futures. In divorce the default is that you should both have similar assets to eachother. She only gets 50% of your pension pot if you get 50% of hers, her "not wanting to touch" her pot is irrelevant, it's part of the assets to be split. The fact that your new business venture could make a lot of money in future is irrelevant, that's a future which won't come till after your finances have been disentangled. The balance sheet should show its value now. Realistically it's not usual for each individual asset to be split 50:50 - the current value of all assets (regardless of which of the two of you is the named owner) goes on the list of assets and then whole assets are placed on one pile or the other, so the list is divided for a clean break with no ongoing financial exchanges between you. She'll keep her pension pot and you'll keep yours and your business assets, and she'll probably be awarded a higher share from the house equity to even up the piles and give you both broadly equal capital wealth.

Usually to deviate from the 50:50 default would require either that the marriage was very short (less than a year) or that one partner has significantly extra needs. Neither of those appear to apply here.

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