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Thomas
Thomas, Solicitor
Category: UK Family Law
Satisfied Customers: 6261
Experience:  BA (Hons), PgDip, Practising Solicitor
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Hi My wife and I are seperating. We have agreed to keep things

Resolved Question:

Hi
My wife and I are seperating. We have agreed to keep things amicable for the sake of our children.
We have agreed to split all of our assets down the middle, with the exception of an inheritance that my wife received some years ago which she wishes to retain.
I have agreed to pay maintenance for children until 18.
We also have business asset that we are splitting.

Is this a fair approach?
Submitted: 3 years ago.
Category: UK Family Law
Expert:  Thomas replied 3 years ago.
Hi

Thanks for your question.

Is she to be the resident parent of the children?

How long have you been married?

Tom
Customer: replied 3 years ago.

Hi

 

We have been married for 17 years. Together for 20.

She will be the main resident parent as I work away often during the week. We will otherwise share care alternate weekends. Children are both teenagers.

 

Expert:  Thomas replied 3 years ago.
Very sorry, been called in to a meeting.

I can answer in 20 mins or so.

Tom
Customer: replied 3 years ago.
OK
Expert:  Thomas replied 3 years ago.

Hi,

 

Thanks for your patience.

 

If you put aside the issue of your wife's inheritance then it is a fair agreement that you have reached.


Sometimes inherited wealth can be included in the matrimonial assets pool if it is inherited prior to the breakdown and/or separation in the marriage.

 

As I'm sure you know there is a presumption that each party retains a 50% interest in the matrimonial assets during long marriage. This can be rebutted and it is most commonly rebutted in cases where there are young children involved and one parent is to have residence of the children.

 

Your wife would probably be advised that she could attempt to negotiate a better percentage split for herself as resident parent so in this respect you are probably getting a slightly better deal than if she litigated via ancillary relief, but then in AR proceedings you may be minded to attempt to include the inheritance in the asset pool so you may take the view that this evens out.

 

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.


Kind regards,


Tom

Thomas, Solicitor
Category: UK Family Law
Satisfied Customers: 6261
Experience: BA (Hons), PgDip, Practising Solicitor
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