Can anyone help re financial issues

(2 Posts)
OhThisIsJustGrape Mon 24-Jun-13 07:19:11

DH and I are separating. I am instigating it and he's not happy about it. I am going to try and see a solicitor this week for advice but may not get in until next week due to childcare issues so thought I'd ask on here in meantime.

I've been a SAHM since having our 4 DCs. DH runs his own business. Mortgage in both our names. I'd like to stay in the house for as long as possible, mainly to keep kids in catchment area for school but its a large house and running costs are high.

At moment, DH pays me a wage each month, I don't actually work there but he was advised to for tax reasons. He has said he will continue to pay this as I will be better off by time tax credits have topped it up rather than not having any income at all and claiming full tax credits.

However, he says I should pay half the mortgage out of this - is this correct? Or is it his responsibility to continue paying it? I will have a big shortfall each month anyway and can't see how I will make ends meet.

Also, I'm sure I won't get any sort if lump sum if I stay in the house - is this right? There is probably £180K of equity in our house but unless its sold I'm thinking there won't be any funds due to me.

Can anyone advise me as to the general rules surrounding finances after divorce, am planning to spend some time googling later but my head is everywhere right now and I'm struggling to make sense of anything hmm

ballstoit Mon 24-Jun-13 07:34:39

There are no rules, each case is different.

What you have been doing/ex proposes to continue doing, is illegal, and I would be very reluctant to rely on an ex in this way, even if I was happy to be breaking the law.

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