UK Family Law
UK Family Law Questions Answered by Verified Experts
Thanks for your question.
To enable me to answer your question could you please respond to the following:-
Thanks for your reply.
If you have been married to your husband for 41 years then the marriage is classed as a "Long" marriage for the purpose of matrimonial settlement pursuant to any divorce that should occur. This means that all assets of each person acquired both prior to and during marriage are included in the matrimonial pool of assets over which settlement shall be negotiated.
Insofar as your husband's trade is concerned he earned his income in his personal capacity if he is self employed, this is not a separate legal entity like a company through which he trades that can hold assets in the name of that company. The money earned through his employment has presumably gone in to your assets (house, savings etc) and these will be included in the matrimonial asset pool.
There is a presumption in long marriages that each party shall receive 50% of those assets. This presumption can be rebutted largely if there are minor children that shall reside with one party or, to a much lesser extent, if one party requires more income/assets because they have a health condition that requires this.
If this has been useful please kindly click accept so that I may be rewarded for my time. If you do not click accept your money stays with the site and I do not receive any credit for the time I have taken to answer your question.
I will answer your follow up questions you may have.