Drawing a line under sharing the marital assets - when does that happen?

[silverkitten]

We separated over a year ago and had our nisi granted 6 months ago. STBXH is still whining about the finances which is why we have not applied for an absolute. However, I hope it will not be too much longer.

Can anyone help me with this query please? What I want to know is at what point do finances cease to become shared as a marital asset?
I had all my financial information available for the first mediation session we had way back earlier this year – he had jack sh** ready. My savings and pension have increased since then – will I therefore have to resupply (e.g. CETV) and resubmit new figures to form the basis of the agreement we get the mediator to help us draw up?

Also, my dad wanted to help me out by giving me some money recently but I told him to wait until I was divorced as I did not want sh** head to declare that he wanted ( and was entitled to a share of it)

Where exactly do you draw a line under the finances and what is in your own accounts? After separation? Decree nisi? Or between nisi and absolute? Is there a hard and fast rule on this?

Any advice would be really welcome. Thank you SO much.

After absolute

Interesting. I was told after separation. So assets I accrue after he has left, he can still have a share of?

In Scots law, gifts, inheritance and loans are excluded from the marital pot.

If your dad wants to give you cash then make sure it is written down as a gift or loan repayable.

The important thing is to not commingle this gift into marital assets. Otherwise it becomes a marital asset. And why :

You need to provide clear proof of the date of seperation.

Document everything.

Make sure you can prove any gifts happen AFTER date of seperation so it is yours alone and not marital property.

See a lawyer to make this official.

Your dad is taking the right road in ensuring he doesn't claim to it.

It's definitely not after separation. Think about it. It's division of martial assets. You're still married until you have the decree absolute.

You are in England?

I am in England.

Re: Gift - thanks SS

So, do we need to resubmit more up to date financial information?
Yes, technically and sadly still married - but feeling slightly resentful that he can share the little I have managed to save over the last year.

Yes you will. Perhaps you had a loan from your father for legal bills? You could perhaps make a payment from your savings into your fathers account under the reference “solicitor bill”.

Thanks japanese . Will I really have to get more up to date house valuations too? I doubt they will have changed that much in the last few months. If we agree with the figures each has submitted to the mediator ( each of us can back these up with the relevant paperwork like statements, etc) can these then be put into a consent order? His CETV took three months last time and I just cannot bear the thought of having to wait another three months to go through this. I just want to move on with my life.

It’s up to the judge I’m afraid. If both of you agree the settlement is fair the most likely outcome is that the judge will sign it off.

Thank you. Just hoping we can get it in sooner rather than later to avoid the post-Xmas rush. The Absolute will be the best Xmas present EVER!!!

SS I just noticed that you posted on another Divorce/Separation thread saying that house valuations are taken from separation, not divorce. Is this something you know to be a legal fact? It seems odd that house valuations are taken from separation and yet CETVs have to be up to date along with other financial information.

This is all very confusing. Can anyone state what is factually and /or legally correct when supplying property valuations as part of a divorce settlement?
Assuming that the definitive as to when marital assets cease to be joint is at the point of absolute as stated above. thanks in anticipation .

@silverkitten

My research is based on Scots law. Defined as the "relevant date.". Ie when your no longer a married couple. Not divorced but no longer a couple.

English law might be different.

Otherwise wives and husbands can simply not divorce for decades and claim the difference in valuation.

I'm not a legal expert just someone who has researched it

Many thanks for the clarification.

Good luck. If you are both in agreement the judge will sign off the absolute unless they believe something is unfair.

@silverkitten

In regards to original post.

The CETV should remain static. You should not have to update it every meeting with mediators. It is a value at point of separation.job done. Anything after that is yours alone. It is absurd to be expected to continually update the valuation every time your ex decides to dispute it. Seek advice on this and have it written in stone.

There is a important case ruling made recently in regards to CETV. Google pensions divorce case law.

It is also worth researching court cases in your home nation and reading the judges transcripts for how they think and decide.

Also worth noting that lawyers mediators etc are all a waste of money.

Deal with him direct or let a judge decide.

Document everything, tabulate your contributions pre and post marrisge. Create a timeline. Go from there.

Read this

www.pruadviser.co.uk/knowledge-literature/knowledge-library/pensions-and-divorce/#

Please ignore that

Thanks JAPANESE - do you mean ignore the above advice in the link? I am sure you're right - probably best to revert to my solicitor on this. Thanks

The way my solicitor in England put it to me was until you have the financial consent order anything you accrue is considered an asset of the marriage.

Also worth noting that lawyers mediators etc are all a waste of money

Absolute tosh.

OP has already said they are in England so you giving Scots advice is useless.

Otherwise wives and husbands can simply not divorce for decades and claim the difference in valuation.

Which is true.

*which is true and why you need a financial order so there can't be future claims.

I had better 0ension from my husband,I got to keep it as we offset it against his savings.
How things work after the decree nici work is complicated.My Cetv was taken as the first one as the change would have been so little.The house valuation you have to agree on,out was easy as it worked out as 50% if the sale price.
My ech had a big inheritance before we divorced and I was not entitled to any if that.
The judge looks at how you can both afford a roof over your heads si that makes result weird.My IH came out much better than me and I have our dd.
It took 18 month for my oh to get his financial paperwork together,so 2 years in total.The absolute is applied for once you have the court consent order in your hand.Not before.
I didn't have mediation but that depends on circumstances.
Keep faith,you will get there in the end.Oh ,and keep your solicotor,just pay as and when you have any spare cash into their account with them so you don't get a big bill in the end.

Better pension than..

Frustratingly none of the valuations are final until the consent order is agreed. My STBXH left 2.5 years ago, nisi pronounced 19 months ago and first court hearing was March this year.

Because of his reluctance to agree to how to divide our assets I have had to get the former marital home valued three times, with the latest now being £85k higher than when he first left.

However, I am insisting that if the house valuation has to be recent so does his pension valuation (when he expected it to be frozen from date of separation)

I am just hoping that the judge will recognise that he has delayed proceedings unreasonably and it will be reflected in the settlement, however I'm not holding my breath. (DC are with me 95% of the time and I am the higher earner)

Hoping yours doesn't take as long as mine!