Quizzes & Puzzles2 mins ago
Advice please.
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Some advice needed please.
My wife and I are about to separate. We’ve been married for nearly 19 years but now it’s over.
I have agreed to move out so she stays with our two children who are aged nearly 16 and nearly 17.
We own the property outright having paid off the mortgage several years ago. The mortgage was in joint names as is the endowment that was connected with the mortgage which I still pay. I paid all of the mortgage interest and endowment payments for the 12 years life of the mortgage. When we paid it off she contributed a substantial amount.
What I want to know is if I am entitled to half the value of the house which my wife could afford to pay without the house having to be sold.
My wife and I are about to separate. We’ve been married for nearly 19 years but now it’s over.
I have agreed to move out so she stays with our two children who are aged nearly 16 and nearly 17.
We own the property outright having paid off the mortgage several years ago. The mortgage was in joint names as is the endowment that was connected with the mortgage which I still pay. I paid all of the mortgage interest and endowment payments for the 12 years life of the mortgage. When we paid it off she contributed a substantial amount.
What I want to know is if I am entitled to half the value of the house which my wife could afford to pay without the house having to be sold.
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As you and your wife are separating then the best thing you can do is to draw up a "deed of separation". This can cover all financial arrangements between you and your wife, welfare of the children and any future plans for divorce or not as the case maybe.
If the separation lasts for two years or more, without reconcillation, then it may be used in divorce procedings. Although it is not legally binding and providing that it was drafed correctly (ie Solicitor), it will hold great weight should the question of divorce arise. For it is only in divorce proceedings, that asset allocation is determined, so the question of obtaining half of the family home is a none starter, unless done by amicable constent.
Given the age of your children, the two years will coincide with their coming of age, as the courts first consideration will be to the childrens welfare.
For further information please visit
http://www.communityl...808/FC/leaflet03e.pdf
Peace....
If the separation lasts for two years or more, without reconcillation, then it may be used in divorce procedings. Although it is not legally binding and providing that it was drafed correctly (ie Solicitor), it will hold great weight should the question of divorce arise. For it is only in divorce proceedings, that asset allocation is determined, so the question of obtaining half of the family home is a none starter, unless done by amicable constent.
Given the age of your children, the two years will coincide with their coming of age, as the courts first consideration will be to the childrens welfare.
For further information please visit
http://www.communityl...808/FC/leaflet03e.pdf
Peace....
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