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Questions re divorce settlement

(4 Posts)
jenny99 Thu 21-Mar-13 23:32:49

Thank you for your advice.

I guess I need to sit tight and see what happens.

Am guessing tax credits won't be applicable? Are these means tested?

I guess one never really knows what to expect In these sort of situations.

STIDW Thu 21-Mar-13 23:24:18

Yes, keeping you in the manner you have become accustomed to is somewhat of an urban myth. Clearly living in two homes is more expensive and some economies have to made. Having said that after a long marriage the aim is to leave both parties on a similar footing to start independent lives. You have to think about how you will manage financially when the children eventually leave home and child maintenance, Child Benefit and tax credits end as well as how you can add to a pension and manage in retirement.

Every case is different that's why there is no substitute for individual advice from a solicitor. SM must end on remarriage and very often when the payer's income is limited the term for SM is also, say until the children start school or reach the age of 18. In some circumstances when the payers income is higher, in particular after a long marriage, when the recipient is dependant and no term can be identified when they can reasonably be expected to become independent SM might be for joint lives. Alternatively SM can terminate at pensionable age.

Collaborate Thu 21-Mar-13 23:16:19

Don't second guess your lawyer on the basis of some posts in the legal section. Many are by those with no legal qualifications. I've seen plenty of authoritative sounding posts telling OPs they'll never get maintenance for more than a couple of years, or something similar, where they're plainly wrong, but I can't spend all my spare time running around on mumsnet putting out fires and I'm sure most of the other lawyers here fell the same.

jenny99 Thu 21-Mar-13 21:37:50

I am just looking for some general advice please and am seeking help from a lawyer in RL but so much is going around my head now.

My husband (of nearly 20 yrs) is a high earner. We have 2 kids at secondary school. My lawyer has advised I would be entitled to child maintenance and spousal maintenance. I have been a sahm for 15 years so my skills/earning potential are nowhere near his.

I couldn't even earn enough to pay the school fees I would guess.

Morally is it right for me to take spousal maintenance? Although what option do I have?

We have assets which would cover the cost of new homes and I am guessing the amount I would get would cover gas,electric,bills etc and he would pay for the kids fees etc.

At the moment I plan to pay legal fees from our joint account but if these rocket can he make me pay from my part of the settlement?

My lawyer indicated he would have to pay spousal maintenance probably until I remarry or cohabit for a year but in other threads it is suggested this would stop when kids are at school. My kids are at secondary school yet the lawyer still suggested it would be applicable. (She is a well recommended lawyer in the city).

Friends talk about him having to 'keep me in the manner I've become accustomed'. Moral issues aside, is this an urban myth?!

The financial side of things will not stop me wanting to split, I just like to know exactly what the situation and rights are.

It all seems such a minefield! Thank you!!

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