Financial split

[AteAllTheAfterEights]

Can anyone give me any idea of what a reasonable settlement would be? Can’t get solicitor appointment until next year...

Person A
1 child from previous, 1 child from this marriage
Likely to have 75% share of DC2

Person B
Only has the one DC and likely to have 25% time

Only debt is 1 car at £300pm, other car outright but only worth about £1k

House has c.£260k equity with £370k remaining on mortgage (person A wants to keep family home

Pensions A: 80k B: 60k

Savings £20k ish

Any guidance? Thanks

No one's going to be able to give you real answers on this without knowing more like what 'Person A's' and 'Person B's' incomes are, length of marriage, who brought what to the marriage, if there are any pre-existing contracts or ring-fencing of funds, etc.

One big mistake many women make in divorce is trying to hang onto a house that's unaffordable. Courts often seek 'clean break' whereupon all the assets are sold and financial arrangements divided.

You need to wait to see your solicitor.

A £150k but may need to step down after divorce

B £100k

Married 1 year (I know!)

Both equal at beginning but A consistently higher earner

No contracts, nothing ringfenced

People are still not going to be able to give you real answers. It's only a couple of weeks till you can see a solicitor, because what's 'reasonable' may not be to the court. Just hang in there.

Yeah I know, thanks, just wanted an idea. I have anxiety and don’t deal very well with big unknowns so finding it all a bit stressful

Try this - www.gov.uk/calculate-child-maintenance

For ongoing obviously.

Unless A can buy him out I suspect selling and splitting the equity and keeping pensions

The sticking point is A giving up work - why childcare should still be shared?

Not giving up work but stepping down a fair bit. Current job involves lots of travel which would likely be pretty impossible alone.

Irrespective of legal position, what do the two people want to achieve? With a long marriage tends to start from 50/50 then adjusted.
With a short marriage, tend to be getting people back to where they started.
Since all the assets seem to be in the house, probably will need to be agreement on when it is sold (could be delayed a fair while), or if A can raise funds to buy out B - again, not necessarily right now.

Person A would like to keep own pension and buy out at around 70:30 (roughly in line with contributions since purchase 5tears should) now or delay sale until significantly later date.

Person B would like 50:50 on everything

5years ago

How did you buy the house have you ever said 70/30 what tenancy do you have

No 50:50 we bought house but 70:30 plus savings would mean I could buy him out

Alternatively delay sale? How long is that feasible for?

I’ve spent a fortune doing house up that we would never recoup and both kids are so settled in school & nursery I just hate the thought of uprooting them

I don't think a delay in selling would be reasonable, from the limited info you have given. Your Ex would have to agree and I assume that is unlikely.

50:50 is more likely as contribution to household pre marriage maybe difficult to prove and only relevant if tangible I.e mortgage or building works.

Selling always feels difficult but given your next house could be yours for years then the move might be worth it. It will be a chance to have a fresh start.

A court case will cost you more than you are arguing over so try to avoid court. Unless you can afford the house, through a 50:50 (,or their abouts) you might need to give up the idea of hanging onto the house.

Broadly you would need close to 400k mortgage which on £150k might be do'able but won't feel comfortable if you drop salary. You will however get CMS.

Sorry your marriage has ended so quickly, can you agree with your Ex to delay the divorce?

Offer him the 70/30 plus savings and see what happens and take it from there you can but offer