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Hi,
I have been separated from my wife for over a year now, we put the house on the market 2 weeks ago and now have a buyer.
My question is what factors determine the dividing of the money left over?. She has been told she is intitled to a 60/40 split in her favor. I have been told different.
The reasons being, she earns £10000 more than me. I will have our son three time's aweek. Her pension should be taken into account. Mine is worth nothing at this time.
Our relationship is fairly amicable and we have discussed the subject alittle already. I think we both want a fair split, but I would just like to know if these factors come into it...??
Thanks
All things are assumed to be equal to proven otherwise.
Finances will be dictated by the childrens needs and if you need to equally provide there should be an argument for equal division of assets. You start with 50-50. If based on the reasons you mention her pension and higher income, you could reverse the argument and say you need 60-40.
Thank you for your quick reply.
I was under the impression that because she will have our son four nights aweek which deems her the main carer, she would be entitled to more...?
Thanks
If she earns more than you and has a pension you should emphasise this point across. On top of her higher earnings, you probably pay CSA despite looking after your child nearly 50% of the time. Your both gonna need a house and she earns more - should be a reasonable reason to argue the case. Out of interest is the 10% difference really gonna make a huge difference. If it is not, maybe negotiate something else for this eg more holidays or birthdays?
For the hours lost and court costs you have to consider what is gonna be better. Against this though is if you give in at 60-40 she may start pushing for more so just be careful mate.
I agree about whether the difference is worth fighting about, especially when you said that things are quite amicable at the moment. She could argue that, if she is earning more, then she has put more into the house and her pension, unless you have put your career on the back burner to look after your child - ultimately, there are a lot of variables, and to argue them out, if you use a solicitor, will cost you more in legal fees than you might gain, so it's worth considering carefully.
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