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Topic:
how would my finances be split after a short marridge (3 Posts)
Started By:
Date:
09 September, 2017 02:35PM
how would my finances be split after a short marridge
randomguy123 - 09 September, 2017 02:35PM
hello I'm hoping you guys can help me with what may happen to our finances after divorce and what's the best way to go about this?

Basically myself and my wife got married in march an during this time we've struggled with a miscarriage which has led to 1 thing to the next. I would like to work our marriage out and not quit at it so early! however she just want to end things. We've started counselling but she doesn't seem committed to making us work and I get the impression from the councillor that she doesn't think we'd work out long term.

Obviously our 2 year old son in my main priority, by not unsettling him too much /as little as possible. When we brought our house in 2014 we paid £145k (now worth 180k according to zoopla) I put down all the deposit 37k(from memory) paid all the legal fees etc. . We set up an declaration of trust she was pregnant at the time of signing this(not sure if that have any implications) protecting my deposit and split the equity in the property 80/20% in my favour. at the time we worked out I paid 80% of all house bill mortgage ect.. while she paid 20% obviously this stopped when our son was born and I paid all bills, maintenance everything for the 3 of us(it is a struggle but just doable). Because its a short marriage will the terms of the trust still stand? if not what will the likely outcome be?

she wants to sell the home but I'm not sure what/how things will be split. I think I'd like to buy her share out so our son still has his home and thus don't unsettle him too much. with possibly selling later on. But if buy her out would I have to pay things like stamp duty again and get a new mortgage agreement?

I also have 10k in savings, and own our car worth approx. 4k. also I brought all furniture and white goods, I'm not sure if this would be split. my savings is what I saved before we met over 6 years ago, same as our deposit.
Re: how would my finances be split after a short marridge
davidterry - 11 September, 2017 10:29AM
The fact that there is a two year old dependent child trumps the fact that this is a short marriage and the deed of trust. What a court would want to know is where the child would live and how it would be paid for. Everything else will be secondary.
Re: how would my finances be split after a short marridge
HatMan - 11 September, 2017 05:08PM
At a rough guess...she will get the lot.
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