Divorce settlement sense check

[dontwanttostay]

Hi everyone, I was wondering if I could pick your brains about the suggested financial split.

As background, cohabiting 10.5 years, married for 6.5 years, with a 9 year old and a 6 year old. Divorce instigated due to growing apart.

Assets husband:

• Pension: 300,000
• ltd cash reserves: 220,000
• Bitcoin: 80,000
• Cars: 40,000
• Other investments/savings: 20,000
• Share of property after inheritance: 20,000
• Share of marital home equity: 140,000

Total: 820,000

Assets wife:

• Pension: 250,000
• Savings: 56,000
• Investments: 56,000
• Share of marital home equity: 140,000
• Debt (credit card stoozing): -30,000

Total: 472,000

Initial offer by wife is 50-50 on assets and child arrangements. The cleanest way is for wife to get full house equity (she can afford to take over remaining mortgage amount) and leave everything else in individual names to avoid triggering tax implications by selling/moving assets.

Is this offer reasonable? Wife will end up with 612,000 and husband with 680,000 so I suppose there needs to be at least some further adjustment to make it more equal. I don't know if it matters but husband is contractor so employment is a bit uncertain in the future, and wife has stable full-time employment and has always worked during cohabitation/marriage (apart from when on maternity leave).

How would the asset split be impact if mother ended up having children almost 100% of the time due to father relocating far away due to work?

Thanks in advance!!

You can transfer assets between husband and wife without tax implications. So if you agree do it before the divorce then no tax problems.

'Share of property after inheritance: 20,000'
If that hasn't happened yet, you should exclude. Which will also makes things a little more equal in your formula.

'ltd cash reserves:'. If that is in a ltd company it may not be free capital to access, but could be needed for upcoming bills. Would need to clarify that.

'Bitcoin: 80,000'. Is that an up to date assessment? It's dropped a fair bit recently.

Even so, the suggestion of taking over house (and mortgage) looks OK, and if both parties agree that will probably be seen as acceptable, subject to points above.

>> How would the asset split be impact if mother ended up having children almost 100% of the time due to father relocating far away due to work? <<
Probably not all that much if the plan is for you to take over the house, and that houses them. Though you might have more of a case to make things truly 50% of all assets. Of course, child maintenance on his income would be payable.

If you disregard the 20k inheritance then wife is getting 48% ish - could maybe add on a bit from husband savings to level it up to 50%
is husband moving abroad? If so maybe consider that child maintenance may not be paid and difficult to use CMS.

If one partner is taking over 100% of childcare, I don't think 50/50 plus maintenance is enough TBH - you shouldn't underestimate how much being the person with sole responsibility is draining/time-demanding/relentless and how that affects what you can give you your job. It's not just paying for wrap-around childcare, it's every birthday party, dentist appointment, sportsmatch - I have an hour a day during the week where I have to choose whether to do something for myself, or catch up on housework so I don't have to do it at the weekend.

If it's going to be 100%, I would ask for some more cash - liquidating some bitcoin, or something from the Ltd company reserves in the form of dividends/shares so you can have subsequent dividends.

Poor kids if their father is planning moving far away from them 😢

He said that the only way he can stay around is if I agree to keep whatever is in my name, he keeps whatever is in his name and we keep the house in both names. He wants to keep living together after we are divorced, so basically have his cake and eat it.. I am a good enough housemate, nanny, personal assistant but not a good enough wife 😣

I do not understand what he is proposing, but basically it's driven by his inability to leave alone, and the financial comfort it will provide to keep splitting the bills. Basically no upheaval for anyone but do you really think this is reasonable?!!!