An M of 5 years would be considered 'short' in the UK. This would mean that you would identify the assets you both took in to the M (poss beginning of R) and the assets acquired in the period. As there are no children between you as I understand it then the courts will look to 'clean' break with a single settlement.
In essence a mathematical style calc, most accountants can do it. I got 5 valuations on the houses, ignored highest and lowest and averaged the remaining three. Then pensions growth for me and H. Calc was difficult because H had gambled his assets so had to put a value on that as if he had kept them. Then I worked a value and added 25% to make it acceptable. H spewed but agreed as he knew it was generous. L said generous. Drafted it up we signed and that was it. House is on the market and I will chase as soon as January is done.
That is how I do this when preparing divorce schedules for clients. Valuing business is the hard part and in long marriages making discounted cash flow calcs for lost earnings for the stay at home spouse. In addition looking at the tax effects of pensions and asset sharing. Moving assets between H and W are capital gains tax free in the UK but that is not necessarily the case when spouses separate under such circumstances as are likely to become permanent.
So for wealthy clients it makes sense to do the S fins and S at the start of a tax year. V will organise her S on the 6 April giving her a whole year to separate fins and assets. 6 April being start of tax year in UK. (Joking of course!). House is always CGT free if it is main res of either spouse, normally for 3 years after WAS leaves.
Hope that helps Toots. A good L can help.
V
Last edited by Vanilla; 01/30/1502:16 AM.
Freedom is just another word for nothing left to loose. V 64, WAW
