What is included in the "split"?

[Gingercat47]

We are trying to be amicable with the finances but just cannot agree on what is fair. Stbxh was told by a solicitor that it will probably end up as a 70:30 split in my favour. But he keeps telling me that is just the house and that everything else will be 50:50. Is he correct?

I don't want to go in to too many details but there are other assets which I've assumed will also be split 70:30 and I've used that for my calculations. He's used 50:50 for his calculations and obviously there is a huge discepency

Is he correct? Is it just the house that will be 70:30?

All assets should be included initially- don't forget pensions. How you decide to actually split things is then down to both, so perhaps you end up with more of the house to even out other assets for example.

Any inheritance if in your own name is yours as you haven’t agreed to share - unless you’ve used it in the joint pot.

There is a lot of background context which is needed to decide what is fair.

The courts take a lot of factors into account - length of marriage, age and number of kids, housing needs, ability or otherwise to work.

Nobody can say without at least some of this information being given.

I don't think it is needed though. He's been told by a solicitor that it'll probably end up 70:30. Do you need all the information you've asked for to answer whether it's just the house that would be split that way? Does any of that change the answer?

That is a genuine question even though I can see it reads badly.

Solicitors will give a view to their client in terms of what they might aim for

hus solicitor will also be give him a view - which may vary wildly

you might end up 70:30 of all ( which on Dave of it seems v unfair) or you might get 70% of equity to trade off less pension or other asset

its impossible for anyone here to say

it would be unusual
to have 70:30 of everything but will depend on your circumstances and monies available

It's complicated. (Sorry)

In general if a 30:70 split is agreed that would be across all the assets.

But some people might want more cash now as opposed to a bigger share of the joint pensions.

Pension and current cash don't swop on a 1:1 basis because you (mostly) can't access pension until pension age.

So say you wanted more cash now and were happy not to have any of the pension total. It's not fair for you to take all the liquid assets now and he just gets pension because he also needs to house himself.

What has your solicitor advised?

"hus solicitor will also be give him a view - which may vary wildly"

That WAS his solicitor during a free consultation.

We've both only had a free consultation so far as he is very against going through solicitors. I think I need to contact them again and arrange a proper appointment. I just wanted as much information as i could get before doing that and these replies have been really helpful

Thank you. It is a case of me needing money now and I'm happy for him to keep his pensions in exchange for that. He can also easily house himself on his wage but I do see what you mean about it not being a straight swop for pension vs cash now.

Thank you

Any money in any bank accounts, premium bonds, ISA's, pensions, valuables such as art work, the house and any property owned, cars, all these or their values are thrown into melting pot. They also look at any debt including personal and joint debts. The starting point is always 50/50. Then they look at if any of you is disabled so may be unable to work. Then they look at the DC, how many and what arrangements will be for them. Then they decide percentage. They will expect any adult not disabled to work to look after themselves. Having young DC doesn't always change things If DC go to school or nursery. It's a horrible process. You'll need to provide bank statements of every bank account you own.

The free consultation isn’t going to be a considered assessment. He is right and wrong. Some assets like pensions are split 50:50. Some are excluded.

With all due respect a free consult won’t give anywhere near realistic outcomes.

@millymollymoomoo even if he took all of our financial information and gave all our circumstances to them?

If he only had a free 30 mins ( or even an hour) there won’t be anywhere near enough time to talk specifics or come up with scenarios or trade offs or anything

how do you know that’s what his solicitor said?

of course, perhaps things are so weighted in your favour that might be an outcome. Or not. we don’t know

but you need to understand that reaching a settlement is about understanding a range of outcomes and negotiation. Or you put your whole faith in a judge. Sometimes that will go in your favour. Others, as many cases on here and in rl, it does not go well. And can cost tens of thousands in legal fees to reach that end.

you need to sit down with your husband and try to reach agreement- not based on a free initial session.

but with no information here hope can possibly guide you

Well yes. Your other finances make a difference (e.g. you get 70% of the house in return for none of the pension), so do all the other reasons mentioned.

It would normally be unusual for one party to only get 30% (50-50 is the norm) and you’ve not said anything that would justify it but there may well be something in the background that would justify that split.

It will depend on your needs and circumstances and ideally enable a clean break financially. Our house was split 70/30 and everything else, savings, pension etc was split 50/50. I have no housing costs now as the house proceeds was enough for me to buy outright whilst he has a healthy deposit and a mortgage on an equal sized property.

Ours was a long marriage with grown up kids and we both downsized. He's the major wage earner. I've heard of others with similar circumstances who've had very similar arrangements so think this is not unusual but that means nothing really. You need advice specific to your situation.

We did work it out amicably between us based on free solicitor 30min consultations but both were broadly similar and we both agreed what we decided was fair.

It sounds like you already have a difference of opinion though so yours may take a bit more negotiation and you may need more than free sessions.