Divorce

[YourCandidTraybake]

If theres enough equity in the house too house both people am I wrong wanting 50/50

It depends. The starting point in my divorce was 50/50.

Long marriage, grown up kids. Owned a house jointly, mostly joint accounts etc.

A family solicitor is the best person to ask. Or look at the website Wikivorce.

Well the equity would be £260k so we both could get three bedroom houses each for £130k. Eight year marrige two kids 8 and 6 . House in my name only I am the man

Need to look at pension values, earning potential, career and pension sacrifice if one was a stay at home parent for several years. Is one person going to have majority care.

It's not just about housing though is it. It's about living afterwards. Do you both work? What is the earning potential for you both? Do you both earn enough to pay bills once these houses are bought? Are there other assets?

As an aside, where on earth do you live where you can get a 3 bed for £130k??

Wife earns 14 k me 30 k . Pensions are low both I would like her 4 me 3 days

In the northwest you can get 3 bed terraced houses for 70k. She works part-time me full time .we would both be mortgage free. She would get universial credit plus child maintenance so she would be better off than me .

I’m not a lawyer, but I’d suggest you get one. If you want equal split, split the childcare the same way. Also, I’m assuming she earns less because she does most of the childcare, whilst also supporting you to work without paying for childcare. Her loss of earnings because she looked after your children allowed you to earn more, therefore she lost income, the financial split needs to reflect that. Same goes for the pension. So no, you’re not being reasonable to want 50-50.
HTH

Would 60/40 be more fair then

I am on mimunim wage job by the way

I would press for 50/50 to avoid going to court.

I might possibly offer 60/40 as a final offer. However, If she wanted more than 60%, I'd take my chances in court to be honest. Hope that makes sense. So yes, start with a 50% offer, increase to 60% if absolutely necessary and if thats not accepted just go to court.

She wants to stay in the house too the kids are 18 though

Well no her keeping the "family home" is unrealistic when the courts prefer a clean break. Can you both afford cheaper homes without the DC changing school?

Put yourself in her shoes. If it was you working part time, having the kids 60% of the time (I assume you want weekends?), no pension contributions for 8 years, would you settle for 50-50?
You’re giving conflicting ages for the kids, you said 8 and 6, and then that they’re 18.

Both parties disclose all assets and value of them (see Form E) - share/show the docs that show the value of assets.
Section 25 Factors are applied to decide on the split of assets https://www.legislation.gov.uk/ukpga/1973/18/section/25
"First consideration being given to the welfare while a minor of any child of the family who has not attained the age of eighteen".
A settlement is agreed - a mediator can be used.
Court may ratify the settlement (at the discretion of the court/Judge).
Seek legal advice.

Yes that house for 130k is one minute from mum's house who takes the kids school every day while she goes work . They wouldn't need change schools

She can want as much as she likes but she needs to get a mortgage to buy you out doesn't she.

Does she have a mortgage offer?

No I wanted Wednesday Thursday Sunday. She's gotta better pension than me . No they are 8 and 6 sorry . I work Saturdays. I just think If it's not 50/50 I can't get house that's all. I know the house is in my name only but I want a fair outcome that's all.

There is no massive pension. The op is on minimum wage. 50/50 would include pension and house

It would make complete sense for both parties to end up with similar housing the dc will be staying in. It also makes sense that if the OP gets 3 days he pays CMS for the extra time the dm has the dc.

Childcare is a consideration and covering the cost of that should be split by two full time working parents

Can she get a mortgage to buy you out? Because if she can't, the house will have to be sold.

Both of you coming away from this with a 3 bedroomed house, each, mortgage free, is a great outcome to be honest.

You both having a 3 bed home where care can be shared 50:50 or thereabouts in equitable homes is the best outcome for the DC and "fair".

She can't she's a bad credit rating I wanna make sure she's mortgage free for her.

he didn't say kid was 18, he said she wants to stay in house till kids are 18.

Yes I agree with this and it sounds as though that is what you are proposing OP. It's a sensible proposal. It doesn't sound as though your ex has thought things through. She can't buy you out if she can't get a mortgage due to bad credit and you won't be expected to pay the mortgage on the house for her to live in. Both parties have to be housed.

Irrelevant it's just in your name. You're married. It's a joint asset.

I just don't go through spending money through the courts.