Savings accumulated after separation but before divorce

[Misty9]

H and I separated at the beginning of March and I moved out mid April. We both now have separate bank accounts and I am starting to accumulate savings from my own earnings etc. We have already divided up joint savings and monies. So will I have to include savings built up in my name after separation in splitting of assets when we do divorce? Neither of us is in a particular hurry to make it legal so we might wait for the 2 years or until no blame is brought in. I want to start building up a deposit for a property but if I'll lose some of it then...

The answer is "it depends". It all counts as matrimonial assets. At the point of divorce, those assets are split according to need. If there's plenty of moneh built uo during the marriage to meet both your needs, then you could make a case for keeping the savings you accujulate after separation. But if there's not enough to go round, then yes - your ex could have a claim on your savings.

It still counts as joint assets until divorce is underway and you both fill financial assets forms.
Just before ex and I reached that stage his mother died leaving him an extensive inheritance which I had no claim on.
We

It doesn't count as "matrimonial" assets or "joint" assets.

The savings are yours, but on divorce the court has a discretion to share them out. Whether the court will share them out depends on a number of factors. Generally though, if you have similar incomes, outgoings and needs, I'd expect you to keep them.

Sometimes the court will divide assets in to marital and non-marital. Generally the marital assets are those that accrued between the date of the marriage or earlier cohabitation, and the date of separation. Pre-and post-marital accruals are the non-marital assets. They are treated differently when it comes to sharing principles, but needs will trump sharing all the time.

@hotterthanahotthing why would you think you were entitled to his mother’s money? What did you do to earn that? Wasn’t he going through bereavement as well as a divorce??

Inheritance does not count as a joint marital asset. Unfortunately if inherited funds are, say, paid towards a jointly owned house then money is mingled and the spouse may jabs a claim. It’s important people know that - most don’t.

It’s another reason why marriage is a terrible deal. Imagine your parents working and saving their entire lives only for half of that money to go not to their child but to an estranged ex.

If there are no joint assets or there is not enough to cover “needs” then inherited assets may be taken into account.

I didn't go after his inheritance.I want entitled to it.However if he'd got it much earlier it would have be counted in his assets
We were going for a 50:50 share,he hid money so I got less but enough.He is self employed,jigged his earnings and I get £45 child maintinance.
And before you feel sorry for him he had bought a mortgage free house well before divorce that we knew nothing of.He got almost everything in the house after I we left very quickly after he went for me with a knife.
And yes I would have been better not marrying.

Also he did not mourn for his mum.

If he had got it earlier and kept it separate from family funds it would still have been his. I expect some people - particularly self-employed - are able to hide things. I declared everything on Form E. My ex’s figures were very rough back of an envelope stuff.

Inherited assets, even if not mingled with joint assets, will still be vulnerable to a needs based claim.

Thanks all. Ex earns far more than I ever could so in terms of need, mine is greater. But we've had a conversation and agreed to discount savings accrued after the date of separation. We're really aiming to avoid court so hopefully it won't be judges deciding these things. Possibly naive I dont know. I also asked him to note the balance of his business account on that date for when we do split assets.

After date of seperation, usually when he she moves out, any cash is not marital. Even if you win the lottery

50/50 only applies to what was earned during marriage.

So many people don't understand this including my STBX

lol

She's in for a shock

ss770640 If you are still married, it's all still taken into account. Being separated means nothing in the eyes of the law financially, until you are divorced.

Ss - you have appeared on several divorce threads making spurious assertions with little basis in fact. This is not helpful to those seeking advice.