Is it always 50/50 asset split?

[Lozislovely]

Separating from H after 20 years. In process of selling house.

He has automatically assumed a 50/50 split of the proceeds from the sale and an offer of £250 in CM (slightly lower than CSA calculator).

I have £20k worth of debt and earn around £15k more than him per year. I will be moving to a rented property as I don't currently want to buy.

My mum has suggested that perhaps I should be getting more than a 50/50 split, but I'm not so sure.

My concern is that as I earn more than him and went down the legal route I could potentially end up with less than 50% due to his lower earnings.

I'm also concerned that if I went down the legal route he would most certainly play the 'woe is me' part with the kids (which he's done for the past few months) and I am concerned about the potential impact it could have on them.

Any suggestions! Thanks :)

[RedHelenB]

Personally, if 50/50 gives you enough money & you think it's fair then go with it. Sometimes parents with care get more than 50.50 but as you are earning more anyway that wouldn't necessarily be the case & as you say you may lose out in financial wranglings. It is perfectly possible for one party to have everything - the key is knowing what assets you have & what you think is a fair division.

[prh47bridge]

No it is not always a 50/50 asset split. It depends on the situation. Section 25 of the Matrimonial Causes Act sets out the factors to be considered by the courts if they decide the split. You need to take proper advice from a lawyer who specialises in family law and who has all the facts, not just the brief information you have given here. You also need to take into account all your assets, not just the house. Assuming you and your H agree you need to get a Consent Order to make sure that neither of you can make future claims.

By the way, anything you put in a Consent Order about child maintenance is binding for 12 months. After that either of you can refer the matter to the CSA.

[Lozislovely]

Thanks both for replying. I am going to make an appointment with a solicitor this week as suggested and will probably go down the consent order route.

I'm happy with the 50% split as I just want done with it all to be honest!

[Xenia]

Plenty of husbands get more. Mine got about 60% with no child support and I pay all school and university fees ( I earn more). If you earn more why should it be 50%? We had an agreed consent order. My lawyer thought at very best I might pay 39% only but it could have been more than 60% ( he wanted maintenance for life in addition to the split so I was buying out that future claim) and we could have spent the difference between our two offers in legal fees if it went to hearings so I think the 59% was okay.

By the way your own debt and his they are all added to the pot and deducted from the assets - does not matter in whose names those are in and it is the balance after you work.

Good idea to see a solicitor.
Do you not want to keep the house and buy him out? That is more likely to result in the children sticking around. That worked well for us. Less disruption for them.

[Lozislovely]

Thanks Xenia. Can't afford to buy him out plus we are 4 miles from DS's schools and they want to be closer to friends so moving is the best option. I also want a fresh start.

The boys will be with him at most 2 nights every other week as he works nights so they will be with me for the majority.

My aim is that the boys don't lose out hence the reason for the 50% query.