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Is a court legally allowed to give all assets to wife?

Posted by Edward1 
Is a court legally allowed to give all assets to wife?
October 19, 2021 10:20PM
Married 17.5 years.
2 kids.
I paid every bill and mortgage payment.
Ex contributed nothing financially.
I supplied designer clothes, house cleaner, gym etc, etc etc.
I had a business that went bankrupt in 2016.
Ex walked out on me with kids 2 years later.
She was no support to me when I needed her most - Narcissist.
I am in family home alone.
She is in her millionaire sisters house for past 2 years.
She is getting over £500 per week on benefits.
I went personally bankrupt in 2019.
Having to fight in court to see my kids.
Ex successfully got court to put divorce proceedings costs on me in my absence.
I am struggling to stay afloat (on UC) but confident I can rebuild my career when divorce is over and contact with kids is sorted.
We went in front of judge in first financial resolution hearing and they advised that ex gets 100% equity of all assets which is family home that I live in. Equity is approx £70k and joint valuation (influenced) has been used despite an independent valuation carried out by my trustee in bankruptcy that was £40k lower. I also bargained with the trustee to buy back my equity for £10k but judge has given no credit to me for saving the asset and putting it on the table.
Very very confused and feeling that court has been totally unfair.
Any advice?????????
Re: Is a court legally allowed to give all assets to wife?
October 20, 2021 10:56AM
>>We went in front of judge in first financial resolution hearing and they advised that ex gets 100% equity of all assets which is family home that I live in.

Unless there is more to this which has not been mentioned such an outcome seems unfair. Although it may have been the opinion of a judge at a financial resolution hearing you will (a) not get that judge at a final hearing and (b) courts try to be fair so I doubt this would be the decision at a final hearing.

I say this because the property is your home and a court has got to consider your housing needs. It does, of course, also have to consider the housing needs of your wife and children but even if she got all the equity it is hard to see how she could buy anywhere with that when her only income is from benefits.

On the other hand, it seems that you are still bankrupt. If that means that any share you received would simply go to your trustee in bankruptcy a court might well think it better that your wife and children have it.

If you are bankrupt that is also a convincing answer to having to pay any of the divorce costs. No-one in their right senses takes court action to recover a debt from a person who is already bankrupt.
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