inheritance and divorce

[purplehandgang]

Just wondering if an inheritance received toward the end of an 18 year marriage be treated as part of the matrimonial pot.
(D)h and I are in an unhappy marriage. I really can't see us staying together much longer. Without this inheritance neither of us could afford to buy other one out. I also am unlikely to get a mortgage for outstanding mortgage although with maintainance I could afford repayments.
Dh is about to get quite a large inheritance (possibly 250k plus has endownments and a huge pension pot. Currently paying 500 pcm into it.
would it be acceptable as a sahm with 3dc including a toddler to forgoe pension endownments etc but to expect equity in house and a small cash settlement.
Obviously I know I will need to get legal advice but just wondering if I am in the right area.
50k endownments
150k equity in house.
dh on 70k
thank you

If you are still married then the inheritance counts. Put simply:

250k inheritance
50k endowments
150k house
500k pension(guess)

assets of c.£1m - you should get half, plus child maintenence

The value of the pension is very important and much larger than you or your DP thinks.

I second Carol

You do need specialist legal advice. In England & Wales inheritances are relevant and need to be disclosed but how they are shared is rather a grey area. IF the needs of the parties cannot be met from the other family assets it likely an inheritance will be considered a matrimonial asset and shared along with the assets according to the s25 Matrimonial Causes Act 1973. unfortunately it isn't possible understand s25 just by reading it.

In Scotland it different and inheritances and gifts are considered non matrimonial property.

The inheritance would be put into the pot but would only be accessed if yours and the childrens needs couldn't be met.

Have recently been through a similar thing myself.

Incidentally in England & Wales there is no law that assets are split 50:50, or at least its an over simplification of the law. 50:50 only applies after a long marriage when the needs of both parties can be met and there was no exceptional contribution from one party.

In most ordinary money cases there aren't enough assets to meet both parties needs and that often justifies a larger split in favour of the less wealthy spouse, particularly if they have the major responsibility for housing children and didn't work or changed to a less well paid or part time job to fit around childcare. Also in those circumstances the lower income spouse may "need" ongoing regular monthly spouse maintenance payment from the higher income spouse at least for a period of readjustment so they can retrain and establish themselves in employment without suffering undue hardship.

Equality with divorce settlement is leaving both parties living a similar standard of living to start their independent lives rather than sharing assets a mathematically 50:50.

Thank you

At the moment you have £200k between you (not a lot) and a right to share his pension when it comes which may well not be for another 20 years. No inheritance. You have a toddler and your husband earns more. If you divorced now I would suggest you would get the house and he would have to move in with his parents or a bed sit until you remarry, cohabit or the youngest is 18 as this is a small money (not big money) case. When youngest child is 18 your husband might get half the house. You might well be back in full time work by then (if you are not already).

I don't think even with the £250k inheritance there is enough money for a clean break with no continuing maintenance for you. Whereas in my case - we both worked full time I earned 10x what he did and I could raise a £1m + mortgage eek and give him all my my money I could buy him out - he got more than 50%.So as I can see divorces vary - I was a woman paying out to a man etc.

On the inheritance issue above they are right. Also it can depend on timing. If you got £5k from a grandparent 15 years ago and one of you used that to pay off some mortgage or saved it that would certainly be marital money in the pot. If something comes in late on like now it might not be and you might not be splitting it though given the shortage of money here in your case and not much equity etc I don't think the inheritance would be left out BUT the relative might not die until they are 108 or they might change their will tomorrow particularly if they think divorce is possible and leave the money to grandchidlren or the cat's home instead.

Thank you. I always thought mesher order would be the way to go although I was reluctant as it would mean (d)h would be unable to buy whilst still on mortgage. I guess I thought with the inheritance hr would be able to get on property ladder.