If he wants to keep assets?

[Whatwillbe2025]

assets are equity in house, savings, watch, car (paid off) and sports memorabilia collection.

if the total of the sports memorabilia, watch and car comes to for example £25K and ex h wants to keep them rather than liquidate them, would he have to give me £25K out of his split of the other assets (Equity and savings)

Half of everything.

£12.5K belongs to him.

Yes you get half the value of 'his assets' and he gets half the value of 'your assets' (car, jewellery, etc.)

Take the joint pot. Split it in half.

So if the joint pot is £100k as £75k house equity and savings, and £25k assets.

Then he gets £25k assets plus £25k equity/savings.

You get £50k equity/savings.

It does depend on your numbers though how much I would quibble about this. How many assets do you have and how low value wise do you go to include them? What if he says 'your clothes are worth more than mine' for example?

Assuming everything else has been split 50:50 already and he just wants his car/watch etc (£25K worth) in their entirety, he should give you £12.5k from his half of the savings. That way you have effectively split the car/watch etc with 50% going to him (in assets) and 50% going to you (in cash).

You don’t automatically get half of everything

assets all go in the pot
a share of assets then worked out which could be more or less than 50%

But if the asset doesnt physically go in the pot because its being kept, do i automatically get the value of the item?? So car for example,
worth £10K, it wont be sold and the money put in the pot, he will just keep it, so will i get £10K out of the assets in the pot before there split so in effect we both have £10K each, he has the asset worth £10K and i have £10K cash

Everything is valued, and that value is put into the pot to be split.

EA will value a house.
Compare car's year and milage on Autotrader, or go on Parkers, to get that value.
Jewellers can value watches and rings.
Auction Houses can value sports memorabilia.
Pension providers give CETV for pension valuations.

Get it all valued, added together, split 50/50. He may or may not require a bank loan to pay you the cash.

Edit - your example. Car value is 10k. Split equally he will only need to give you half of 10k which is 5k.

In theory yes, but in practice it’s far more complicated. You want half the value of his watch, so does he get half the value of your wedding ring?

The assets are "in the pot".

The pot is e.g.
Car £10k
Watches £5k
Savings £15k
Equity £70k

Total £100k. £50k each.

If he's having the car and the watches, that's £15k of his share and he gets £35k of the rest.

Don't forget pensions.

I dont think he only has to give me 5k and he keeps a 10K car?? Hows that fair??

Please see @Sleephound scenario.

A breakdown of the assets might be helpful for people to guide you

What assets do you have? Shoes, handbags, jewellery even fancy hair appliances etc? Are they going in the pot?

Do you share a car?

Then you ask to keep the car and give him 5k?

Taking the car as an example, the car is worth 10k so that’s 5k each. He gives you 5k. So you have your 5k. It cost him 5k to keep. So he is only benefitting to the tune of 5k.

That doesn't work out though because the £5k also belongs to both of them. The car and the £5k together are worth £15k, so half is £7500.

Is your engagement ring in the pot?
shies?
seems odd to include watch etc

and the split overall is not automatically 50:50

my engagement ring is in the pot yes… im happy to sell it as i have no use for it,
but doubt would be worth more than a few hundred quid scrap value

i have no other assets of notable value, not worth over £500 at least.

where as he has a £3000 watch, car im his name that i paid off and the sports collection acquired during the marriage!

full list of assets
equity £130,000
savings £52,000

he wants to keep
watch £3,000
car £10,000
sports collection £30,000

pensions equal

Yes if 50 50 split.

Engagement rings are never in the asset pot as they are classed as gifts. I'm guessing the watch is something expensive like a rolex.

50/50 is usually based on no children and neither side being impacted workwise by their partner. Hopefully that is the case here OP

No there is children involved and i worked part time for 9 years bringing up children and supporting his career which involved long hours, away trips etc

So each of you has 50-50 split.

full list of assets
equity £130,000 (65k each)
savings £52,000 (26k each)

Total share each - £91k

he wants to keep (with the value of each of your half share shown in brackets)

watch £3,000 (1.5k each)
car £10,000 (5k each)
sports collection £30,000 (15k each)

He needs to give you HALF the value of the items he wants to keep as he owns half and you own half. He doesn’t give you the full value as you own half each. He just needs to buy out your half. Your half of the value of the items above is £21.5k.

That means his share of the split will be
91k - 21.5 k (He needs to give you 21.5k from his share to buy out your half ownership of the items he wants to keep) so he gets 69.5k.

You get 21.5k + 91k, so your share is 112.5k

No it doesn’t, he takes the cash from his half of the equity and savings (130k equity plus 52k savings spit 50-50 between him and OP= 91k). He pays OP out of his 91k. It’s his 5k as it’s coming out of his share.

Half of 10k isn’t 7500

where have you got an extra 5 from? I am talking about the car. Not the car and watch.

The £5k he will "pay" her also comes out of the joint pot.