Amicable Forum

Hi, yes, it’s not such a simple question but understanding how the law sees your situation is really key to getting a settlement agreed, so it’s an important one! The law doesn’t have a defined formula for dividing assets. To make fair agreements, you must think about what the courts in England & Wales take into consideration: any children of the family and how they will be housed, income, earning capacity and property as well as financial needs, obligations and responsibilities. Debt can be looked at as ‘family debt’ or ‘individual debt’ depending on how it was incurred and this can then effect whether it is taken into account and cleared before the split of assets or after (i.e. from just your half of the assets).

It’s also worth remembering that irrespective of whether your wife is on the deeds or the mortgage she probably has a claim on the family home so you should not do anything with this until you have an agreement. If you’d like specific advice about your personal situation we offer free 15-minute divorce advice calls, you can book a time convenient here.