Advice re self employed husband & separation

[Midwife99]

My self employed H has left. He owns a successful limited company. He owns a house in Spain which has reduced in value alot due to property crash there but there is still some equity possibly. He has a personal pension. We have a 2 year old daughter & I have 3 other DCs. I own a house I had before we met which is complicated by the fact that my exh has a 25% share in my property which I have to pay out of my equity. My current husband is offering child maintenance but no more. I need a lump sum to pay off ex so I can stay in my house as it will be hard to buy another alone or remortgage based on my income. What am I entitled to from current husband? Is collaborate or anyone else able to advise?

[Idreamof]

Bump.

[Zoelda]

it isnt really about entitlement but good negotiation and practice.

your main problem sounds like there isnt any cash to make a settlement. have you run off a copy of his last company accounts?

[Midwife99]

No I don't have a copy of his accounts but I later saw an email he sent a letting agent before I knew he was leaving saying his last account net profit after tax was £47k plus his shares in another company he part owns & gets dividends from. His house in Spain has equity in it but this is theoretical as he won't sell it.

[Collaborate]

I presume your marraige has been short(ish) - the fact that there is a child complicates things from that perspective.

Your case will be determined basaed on a combination of contributions and needs. Needs trupm contributions, and children's needs are paramount.

You'll need something better than advice from an anonymous forum though. Look up a solicitor near you on the "Resolution" website - try and pick someone who is also a collaborative lawyer if you want that option open to you, although legal aid isn't available for a collabprative settlement.

[Midwife99]

Yes I have an appointment with a family law society solicitor in 2 weeks. He wants to organise mediation & do a DIY divorce with me not receiving a lump sum of any sort, just child maintenance!

[Midwife99]

Married 4 years I have 4 DCs the elder 2 are now adults but have an 8 year old & a 2 year old

[Collaborate]

You can only get a capital settlement from him if he has the means to pay it. Maybe the Spanish property has too little equity in it?

Do you really want to spend oodles of money going after something that isn't there? If the shares are in a private company the aren't much saleable.

[Midwife99]

Oh no I'm not interested in a legal fight & massive legal fees but if he could borrow even £25k from his companies or remortgage his other house it would solve all my worries re housing the children.

[Midwife99]

The Spanish property has about 90k euros equity

[Zoelda]

which other house? the spanish one?

[Midwife99]

Yes he owns a house in Spain