Finances - expected settlement

[Zambezi]

Hi All - new poster here.

Married a couple of years ago. Short marriage (lived together less than a year) but had a baby. Soon after baby was born mother and l separated and she moved half way across the country.

FMH was in my sole name and we lived there for less than a year but it was the FMH. Both earn +£55k albeit l earn more but less than £100k.

She moved with baby and we are currently going through courts to get CAO in place. Concurrently getting divorced - looking for any insights as to likely financial settlement (appreciate no two cases are the same). I paid deposit on house £35k, owned it before we were married and continued to pay mortgage after she moved out - she rents elsewhere. Not much equity in house - less than £60k.

Given short marriage and fact she has decent job is there any likelihood to ring fence deposit or any pre-marital contribution?

Any views welcome

Thanks

 

[nothernsoul]

I'd be getting 30 minutes of free legal advice.

 

[Ash]

Agree. The starting point is usually 50/50 share of assets. Are you getting to see your child at all?

 

[jw3593]

Agree with Ash.

As you have a child, they will look to ensure child's needs are met, including housing.

So although she is renting, future financial stability will be important for you both. So expect to share in that respect.

Doubt you'll have to pay any spousal maintenance due to child maintenance, child benefit, etc. but if you have any pension you could use some of that to offset the equity?

My suggestion would be to keep it out of court...

 

[Zambezi]

Agree. The starting point is usually 50/50 share of assets. Are you getting to see your child at all?

Thanks for engaging. Currently seeing child every other weekend.

 

[Zambezi]

Agree with Ash.

As you have a child, they will look to ensure child's needs are met, including housing.

So although she is renting, future financial stability will be important for you both. So expect to share in that respect.

Doubt you'll have to pay any spousal maintenance due to child maintenance, child benefit, etc. but if you have any pension you could use some of that to offset the equity?

My suggestion would be to keep it out of court...

Thanks for your response. I have read in other forums that in short marriages pension sharing orders are rare as any premarital contributions are ring fenced. Contributions during the short marriage in this case are likely to be of similar value and relatively small.

 

[jw3593]

Thanks for your response. I have read in other forums that in short marriages pension sharing orders are rare as any premarital contributions are ring fenced. Contributions during the short marriage in this case are likely to be of similar value and relatively small.

That's true, but if you're wanting to ensure more equity, it could be a good bargaining chip?

I'm only saying this as I'm in the opposite where my ex wife is telling me she expects 70/30 as she put more in back in 2021 (that's not true, but that's what she's arguing!). The advice I've received is that until there is a decent amount of money involved, they'll do best for child(ren) first regardless of how long the marriage is

 

[Jumper85]

How old are you? Pension shares are unlikely if there is still considerable time to put money into a pension.

Agree, they'd put the children first but equally she's on a good earner and is currently renting so given there isn't much equity to split and only one baby to look after, you both only need 2 bedroom properties. Assuming she already has this, you could potentially be looking at closer to 50/50

 

[Zambezi]

How old are you? Pension shares are unlikely if there is still considerable time to put money into a pension.

Agree, they'd put the children first but equally she's on a good earner and is currently renting so given there isn't much equity to split and only one baby to look after, you both only need 2 bedroom properties. Assuming she already has this, you could potentially be looking at closer to 50/50

Thanks for engaging. Her a few years below 40, me a few years above. I have lived her for much longer so have substantial pre-marriage pot whilst she is a recent immigrant hence the disparity in pension pots

 

[Jumper85]

The disparity might be the issue, otherwise going by her age alone she has 30 odd years still to contribute. My pot was 3 times the size of my ex's and we were both just below 40 and the judge didn't order a pension transfer.

 

[Zambezi]

The disparity might be the issue, otherwise going by her age alone she has 30 odd years still to contribute. My pot was 3 times the size of my ex's and we were both just below 40 and the judge didn't order a pension transfer.

Thanks for sharing your experiences; much appreciated insights.

 

[Karma Police]

Hi All - new poster here.

Married a couple of years ago. Short marriage (lived together less than a year) but had a baby. Soon after baby was born mother and l separated and she moved half way across the country.

FMH was in my sole name and we lived there for less than a year but it was the FMH. Both earn +£55k albeit l earn more but less than £100k.

She moved with baby and we are currently going through courts to get CAO in place. Concurrently getting divorced - looking for any insights as to likely financial settlement (appreciate no two cases are the same). I paid deposit on house £35k, owned it before we were married and continued to pay mortgage after she moved out - she rents elsewhere. Not much equity in house - less than £60k.

Given short marriage and fact she has decent job is there any likelihood to ring fence deposit or any pre-marital contribution?

Any views welcome

Thanks

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