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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.

Inheritance before marriage - marital asset?

32 replies

greekeconomist · 23/02/2023 22:01

H and I have been together 15 years, married for 10 and I am very close to asking for a divorce. After getting together but before getting married, I inherited ~£300k, some went on our mortgage as an over payment but I still have 75% of it. What's the likelihood of this being considered a marital asset on divorce? I think the rest of our finances are pretty straightforward but wouldn't want him having "my" money. Thanks for any advice!

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millymollymoomoo · 24/02/2023 06:58

Honestly, it depends

they won’t award you ( as example) 70% of house equity and 50% of ex pensions, and then 100% of your inheritance, leaving him in much worse position
i think on your case it’s highly likely to be included ( and tbf it should )

but your solicitors will thrash out what a fair settlement could look like

greekeconomist · 24/02/2023 09:01

@Responsetoinheritancebeforemarriage thanks for all the links and info, sounds like I need to have a look at this form E and I see you've mentioned future earnings potential - this is a big one for me as I am only now earning FTE what I left after having DC 13 years ago - I was then the higher earner but not anymore.

I'd also not considered the rise in value of other property, that's going to be a big one, although I guess a valuation with effectively a sitting life tenant would work in my favour.

My Dad got utterly shafted by my step mother on their divorce so I definitely need to find a good lawyer.

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LemonTT · 24/02/2023 10:20

A pertinent question is whether you used income from the rental property to fund your marital life and if it was intended to be used as pension vehicle. If so, it is more likely to be assessed as a marital asset.

In relation to the value of the property you could classify it as an a business. Again how the income was used is pertinent. A life long tenant wouldn’t change how much the asset is worth.

greekeconomist · 24/02/2023 15:04

@LemonTT I legally co-own it with another family member who lives there, technically it was partly funded by a mortgage extension on the marital home, so there is no rental income.

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purpledalmation · 24/02/2023 15:28

adriftabroad · 23/02/2023 22:08

IMO (and it is only an opinion, but I am going through a divorce)

This is a short marriage. I believe there is a good case to be made for inheritance being yours.

Redundancy during marriage is not like inheritance before marriage.

But again, just my opinion.

10 years is not a short marriage! The relationship is also 15 years so that can also count.

It's a marital asset and will most like form part of the marital pot and be 50/50 depending on circumstances, like children etc.

purpledalmation · 24/02/2023 15:30

Sorry should say 50/50 is the starting point, circumstances like children, pensions etc make it changeable

greekeconomist · 25/02/2023 10:38

Did some pension digging yesterday and his pot is more like 10x mine although depressingly also found the redemption clause in our mortgage is heftier than I thought. But learning more about this 50/50 starting point I think I've got a good starti
Now I just need to tell him I want out.

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