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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Fair split of assets

3 replies

EnglishDutch · 21/08/2022 16:34

I am interested in opinions on what would constitute a fair division of assets in the following divorce.
Reason for divorce is irresolvable breakdown of marriage.
Length of marriage: 27 years.
Partner 1: bigger earner, earns 100k pa plus bonuses which vary from 6-40k net pa.
Partner 2: earns 24k pa.
Partner 2 did childcare and homecare early on in marriage which affected future earning potential.
There is 1 grown up child who is financially independent.
Neither partner has any debts.

Assets:
Jointly owned property worth 250k.
Pensions - p1 170k, p2 100k - total 270k.
Money in bank 200k.
2 vehicles jointly owned worth 60k.
Other property is furniture, general possessions, no idea how much it's worth, for the sake of argument say 20k.

Thanks!

OP posts:
waterSpider · 21/08/2022 17:08

One possible outcome would be 50/50 on the assets, and no ongoing support.
Issue is whether some kind of spousal support is justified - did partner 2 abandon a potentially high paying career (e.g. law, medicine) or 'only' went a little backwards in career terms because of the 1 child.

If I was partner 1 I'd be going for 50/50.
If I was partner 2 I'd be thinking of going for spousal maintenance, maybe partly to leverage a higher share of assets. Maybe asking for all the house and accepting a lower share of the pensions/other assets, since will be harder to get another place on that salary?

Partly depends on priorities and ages -- e.g. how much longer in paid work before retiring?

I note that, these days, that looks like a low value house and pension for someone earning above £100k.

millymollymoomoo · 21/08/2022 18:26

How long were you at home? Was the career you are in paying sane salaries / potential?
how many years left to retirement?

with the money available on 50:50 are you both adequately housed?

how old is ex and how long till retirement

there are 2 priciples 1) need - well you both need to house yourselves 2) sharing - so equal split if savings and pension equality

BuildersTeaMaker · 23/08/2022 13:42

You need to do your own homework and not ask mumsnet details like these
go to ADVICE NOW Website and download a copy of their guide to financial settlement. It walks you through how court decides that any financial settlement is fair. There are 10 or so criteria used, these are what solicitors use. Doesn’t matter if you agree and get a consent order- the courts still look to see if these criteria are met as due deligance before sealing. 50:50 isn’t always possible if these criteria cannot be met with 50:50.
it’ll cost you £20 to download but they are worth their weight in gold.

Mediate and government divorce website also have good information.

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