In my experience some cats are more dependent on eachother than others. Generally speaking, cats who have grown up with eachother would find it difficult to be separated (but it is not impossible) and cats who have been introduced later should be fine being separated.

My DH and I both brought a cat each into our relationship, each cat was about 2 years old at the time. I had a sooky, soft cat who loved peoples laps (Female) and he had a tough, independant cat who loved a good pat and then out the door (Male). My cat happily tried to bond with his, but DH's cat only ever tolerated mine! We had to move to temporary accommodation for a year or two which was not appropriate for cats and re-homed them with 2 different lovely friends for that time and after a period of adjustment, the cats were really happy. (They always loved a visit from us though!). Then about 2 years after we got them back we introduced our DD. Our cat did seem to cope and although they ignore DD and still tolerate eachother - they are very happy cats in general.

I guess what I am saying is that if you have your cat's best interests at heart, I don't think you can make a wrong decision. I think by the sounds of it Bailey would be better re-homed for everyone's best interests. Jersey should be fine without him - more than likely much happier to not have another feline around.

I hope you work something out. It is lovely to have pets with kids, but better to have happy pets!