Divorce and Redundancy

[fabtec]

I am going through a divorce after my wife left me. I could also be made redundant from work which would give a payout of about �16.000. Would my wife be entitled to any of this and would it be added into the settlement figure.

[xrayspecs]

Your wife could potentially be entitled to half of your estate. Including any money you make up to the time your decree absolute is granted, and it makes no difference who is bringing the divorce petition. A good lawyer is essential if you and your wife can't agree on an equitable settlement.

[Gef]

I am just about to get divorced after two years separation. The financial settlement will be based on the state of our affairs on the date of separation according to Scots Law. You do need to get legal advice.

[fabtec]

Gef thanks for your reply. I seperated 5 months ago but I have to give statements to the solicitors of all my affairs up to the divorce. Are you saying that I should only have to declare things from the date my wife left me?

[lady_p_gold]

You will both have have to fill in a Form E which states all your assets, all your debts, all your income, all your outgoings and your entire financial position. It will also ask what your housing needs are etc.etc. All this will be taken into consideration and the �16k will be an asset. However the fact that you are redundant will of course be taken into account. You will also have to give details of pensions, as will she.

[xrayspecs]

When I got divorced my wife petitioned (and got!) for a share of an inheritance

[xrayspecs]

....... that I got after the decree nici but before the absolute. (sorry for the break I pressed submit in error)

[Gef]

fabtec , as I said I am in Scotland and the law may be different elsewhere. Our settlement was based on assets (property, pensions etc) and liabilities (mortgage, credit cards, outstanding loans etc) on the date of our separation. Although the divorce has not yet gone through I have been advised by my lawyer that if I win the lottery tomorrow (no chance!) then my wife would have no claim on it. Good luck.

[fabtec]

gef thanks again for your reply. Were the debts and liabilities in both your names? The majority of our loans and credit card debts are in my name only as my wife didn't earn enough to have loans in her name. She is now refusing to take any responsibility for any of the debts as they are all in my name. She only wants the equity from the house plus my pension and refuses to accept any other liabilities. There are no children involved in our dispute and we were only married for 19 months.

[Gef]

fabtec, we had some things in both names but we both had our individual credit cards etc. Everything was included in the 'pot'. Luckily my separation was amicable and so we did a lot without involving the lawyers. As I see it your wife can't have it both ways - if she wants a share of assets then she must accept a share of the debts. Another thing we both agreed that we would be liable for our own lawyers fees.

[lady_p_gold]

As I said ... it all goes in the pot .. the debts will be a minus on your side which will all be taken into account so in effect she will be sharing both the debts and the assets.

[akitajoe99]

my wife & i have been seperated 1 yr in may. i have offered to buy her out of our property & also we can sell & split equity etc down the middle. 1st she said she wanted 40k after i initially said she could have 35k.now the goalposts have been moved & last week at mediation she said she wants 50k & now thru a solicitors letter she wants 60k. there is only 70k of equity in the property & 10k in an endowment policy. we have a daughter of 11 yrs. we both work full time.& share responsibilities for our daughter.a couple of weeks ago she said to me that she was entitled to 3/4 of all equity & i just 1/4. ive been told that she is entitled to 1/2 plus 15%? i would like to know what my wife is indeed entitled to?