Property after Seperation?

[countryrowe]

My wife and I were living together in the early 1994/5 (not married at that time) and she was working as she could earn more then myself, we were both single parents and both had girls, her children were aged about 11 and 13, and mine were aged about 4 and 5, I was a househusband so to speak. She became ill at work and went sick, she returned to work after two weeks, but due to the stress of the job she went sick again and in fact was admitted to a hospital in a mental state at that time. We discovered that in fact she was suffering from Stress and ME. The company fired her while she was undergoing treatment for this condition, and we decided that we should fight this case due to unfair dismissal, and to cut a long story short she settled out of court for some £50,000. I was and still acted as the Househusband but at the time I was also carer for my partner, and had full control of the household.

In 1996 we decided that it would be best to invest this money in "Buy To Let" so she bought two houses, and rented them out, I did a lot of work in getting them ready for the renters and did continuing over the years to keep them in first class condition, Both properties are in her sole name.

In 2000 we got married and everything was on an even keel, I was now carer for the whole family as my wife was in receipt of Disability benefit and I was in receipt of caring allowance, we lived a normal life but as in most marriages we had a lot of arguments which became heated at times and one of the reasons that they became heated, which I did not know at that time, was the fact that I am a High Functioning Asperger (Autistic Syndrome) in fact only just been diagnosed at the age of 64. We are still Married at this time and see each other two or three times a week and remain friends.

My wife and I have decided to separate, with me moving out of the rented home which we both shared, into a rented flat.

My question is
1. "Do I have any rights to the rent being paid to her for the property which is being rented out"?
2. "If either of or both of the property's are sold do I have any claim on the equity"?
3. "Can she exclude my children from inheriting any part of or trust that she may have set up for the exclusive of her two children of the two properties"?

[Peridot]

Re: Property after Seperation?

Hi countryrowe,

A difficult and stressful situation for all but good that you remain friends. Are you intending on divorcing? Yes or no you probably need to consider a financial settlement between you which can either be dealt with by way of a separation agreement or as part of a divorce financial agreement.
All matrimonial assets, even those in someone's sole name, are in the pot so to speak, when deciding the division of assets between the couple at the end of the relationship, so depending on what assets there are in the marriage then yes potentially if the properties were sold you would be entitled to a share of the proceeds but this would be decided as part of the separation/divorce agreement. The rent is income, again part of the assets to be declared when dealing with the separation of the matrimonial assets.

In respect of the division of your assets between you and your wife, I would recommend obtaining some face to face legal advice, either a free half hour or a reduced fee appointment just to point you to some of the options that may be available to you. There are many firms that offer fixed fees for divorces and separation agreements and it may be worth having a look on our sister site https://justbeagle.com where you can search firms in your area. As you are both friends hopefully you will be able to negotiate an agreement between you without the need to involve the Courts, other than to approve any agreement you reach between you. Mediation is an option if you struggle to agree, but I think your first stop does need to be with a solicitor just to look at the sorts of options you have.

As far as any 'trust' or will is concerned, your wife can leave her estate to whoever she pleases, although while you are married you could have a potential claim if sufficient provision is not made for you, under the Will. However, if your own children are independent adults, they would be unlikely to have a claim against her estate.

Your next stop is to get some advice on the financial arrangements that need to be considered by you and your wife so that you can both move on.

[countryrowe]

Re: Property after Seperation?

Thank you Peridot, for your useful information, I just needed guidance in the matter, I wish to remain friends in this relationship and worry that if I do rock the boat by asking for some help with my keep via the rent that is due from the properties then I may upset my wife into thinking that I am after everything, (which I am not) only what I am entitled to having done a lot of work on the properties and got nothing out of this. I am now going to talk to my wife and see what comes of this prior to getting any Solicitors involved as the assets are not great. (my wife is an ex-lawer retired for several years) Thank you once again.

[Peridot]

Re: Property after Seperation?

Hi countryrowe,

If you manage to reach an agreement and I hope you do, get any agreement considered by a lawyer and then get them to draft the agreement into a consent order for approval by the Court. The lawyer can ensure you’ve covered all the eventualities.

All the best, if the two of you can agree a fair settlement between you that is definitely the most sensible and cost effective way to deal with your separation and hopefully enable you to remain friends in the future.