settlement - how much worse if i start work?

[rita2007]

settlement - how much worse if i start work?

scenario - husband has 2 investment properties and we have one matrimonial home. he has probably had those 2 properties double in value since he bought them. he makes a good living - about £50k per annum

i have been staying home with our son for almost 2 yrs and trying to find work but no luck so far. i am afraid i will find it difficult to get my career back if i stay out of work much longer.

if i was to take on work (anywhere from £25k - £33k per annum, i think), would it make my settlement drastically worse?

can anyone advise please? i.e. if my portion of the pot was to be £200k, how much would that go down to if i was to take on a role that paid £25k per annum.

many many thanks

[Collaborate]

There's far too little info in your OP to answer the question. In the circumstances you describe, why wouldn't you want to try and get back on the job ladder now? Your capital settlent has more to do with your earning capacity than actual earnings.

[rita2007]

so, you think going back to work would not be so determental to me, then? did u go thru this kind of settlement process or do you work in the field? many thanks :)

[Collaborate]

I'm a family solicitor with 20 years exp and on the advanced family law panel.

You'll probably need to get a mortgage, and you'll not get one without being in a job for at least 6 months.

As I say, your earning capacity is all important. How old is your son?

[MeMySonAndI]

Rita, these are difficult times and you have been out of work for 2 years. Keep looking for the job, it might not be easy to find.

If you find it, great, you don't depend on your ex so much.

If you don't, it would look great to show the judge a long record of unsuccessful job applications when your ex claims that you don't need x kind of help/support because you would be able to support yourself without his help "if you decided to get a job".

[rita2007]

my son is 4 yrs old. not started reception yet so only goes to nursery 3 hours a day.....a bit complicated to get childcare sorted but now i have a mom friend who is a childminder....so it cud work out well

[Tanya2011]

Hello.

You'd need to consider how long you've been married. You may not be entitled to a straight division of the pot anyway. If you're leaving and you're taking your son you'll need somewhere to live for both of you so that's the starting point. If you start work, your provision for somewhere to live is unlikely to be reduced as a result of you working. Infact if you can work and can get a position and it is ok for you to do so (with a son at 2 years old you'd probably be expected to work part time max.) , it will be against you that you have not done so.

The other share of the pot is to do with length of marriage and who had what when and how.

[rita2007]

tanya, i did not fully understand what u said - did u say it wud not look good or in my favour if i dont try to find work? we been married for 6 yrs. i went back to work when my son was 10 mths old but had to leave again due to a situation where mom in law not helping with childcare - basically left my childcare situation in a lurch so i sacrificed my career because my husband encouraged me to do so. looking back, i shud have stood my ground and stayed in employment but..... live and learn!

[Ruthcosta]

Hi Rita, I'm a family lawyer with a lot of experience in separations. The previous solicitor's advice was correct in that if you want the family home to pass into your ownership you'll need to demonstrate an income. The fact you are working will not reduce your entitlement in any way. In fact Tanya2011 is very right in suggesting that not working when you can do so can go against you with the courts. I have seen this myself on a number of occassions. If the court thinks you're simply holding out for a big pay-out without making efforts to help sustain yourself financially - unless you or your child have an ongoing medical issue - you may get less than you would have otherwise. The tide is turning in UK divorce courts after a long-standing view that the system has been biased towards women. I think finding work would be a better option for you in every respect.

[Tanya2011]

Dear Rita,

It is very unlikely that you would have a reduced settlement because you are working. You would need somewhere for you and your son to live. So that's the starting point, very probably mortgage free. If your husband had quite a few assets before the marriage don't expect to get 50% (or more) of them just because you're married and separating. You're leaving, you need somewhere for you and your son to live.

If you can work and do not, it is likely to be a disadvantageous feature to your case. If you have a son of an age when he would be going to nursery part of the day then you can't be expected to work anything other than part time. Even if your kids are at secondary school, I'd suggest you couldn't be expected to be working more than part time.

Money's tight for everyone these days especially middle classes, and women have as many opportunites as men really especially with maternity leave law particularly women in their 20s and 30s. So if you tried to claim some type of lump sum or allowance some element of which could be covered by your work income, then if you're not working and you could, the judge may not award that portion of your claim to you.

[rita2007]

tanya, ruth and all,
thanks for all the advice. message received - going back to work will not drasatically affect the settlement but not working when I could will adversely affect my position. so, continuing on with my job search. need to work FT as PT in my field of work is very difficult to find. many thanks to you all :)

[Ruthcosta]

Glad to help. Try to issue petition at least three months after starting work. This is the time period after which courts recognise you as in stable employment as any probabation period would have expired.

[rita2007]

i thought i would wait later than that because i feel if i file petition, he may make life difficult for me in terms of helping with childcare before he goes to work. we talked and decided he would not move out until 6 mths after. i just dont want to jepordise my career anymore. ruth, if he transfers the property to someone else's name before I file, can it be caught by the financial disclosure part? again, thank you so much

[rita2007]

i am referring to his investment properties, not our matrimonial home

[Ruthcosta]

Great, six months would be much better than three in making your case. Also rest assured, as long as the property assests are based in the UK you have nothing to worry about in terms of disclosure.