Hello. I've posted in a different area about the emotional and personal turmoil of my situation, but have name changed to post on here. I am in a very sad place at the moment and am finding it difficult to know quite what to do or which way to turn. I realise I will have to start taking control and think to the future, but am terrified at the thought of having to sort things out and deal with financial matters; it's never really been my strong point and I find the paperwork a bit confusing to say the least.
DH and I are both 54, we have been married for 26 years with 3 children, DD1 is 20, DD2 and DS1 are 17. All three live at home. DD1 has had some mental health issues but is trying to work through this with ADs, therapy, etc. She is working PT and hoping to go to uni - maybe. DD2 and DS1 will be 18 in November, both are at college in the first year of A-Levels and hope to go on to uni in the future.
DH is a high earner (last year, 6 figures before tax); I am a low earner as support staff in a primary school and don't earn enough to pay tax. I was SAHM for a number of years when DC were small and then did various pt jobs and a period where I wasn't earning. House is mortgaged with about £70,000 outstanding and another 9 years to go. DH has a final salary pension which commenced when he joined his present company in about 2000. I don't have any provision really - not even sure I've contributed enough for old age pension.
About 8 weeks ago, DH told me he was unhappy in our marriage and left a few days later. He rented a flat and moved in with OW (28 years old) who he works with. I don't know how long he had been seeing her. He told me he would continue to pay bills and mortgage on our marital home and an allowance of £800 for DD2 and DS1 and indicated he would do this for about 6 months. He said he would like me to have the house and the equity and he will keep his pension. I think the idea is that I downsize to something that will enable me to be mortgage free and that I use my salary to pay bills, live, etc. There are no further debts or assets. We had an amount in savings which we each took half of before he left.
Nothing has been agreed formally and because of my distress at what has happened and the way he has been (angry at me for being so awful to live with that it drove him away), I have gone NC with him at this stage.
I had a free half hour session with a solicitor who seemed very good. I have also initiated mediation (told DH I would be doing this) and had a session on my own first. They will contact DH and then get back to me. I'm still waiting for this and am getting more and more nervous and filled with dread. I know that I will need to run things past my solicitor as and when they happen, but just wondered if any kind person could perhaps have a look at my post and let me know if they see any red flags or can point out any things I might need to look out for. My greatest fears at this stage are:
- How I will manage to live in the future on what is a very small wage and no pension.
- Will DH's suggestion re house/pension need to be worked out in greater detail?
- Does the fact that DC live with me and two of them still in education, but nearly 18, count for anything?
- Can DH just "pull the plug" on things if he feels like it?
- He gets a sizeable annual bonus in April pay (last year it was about £13,000 after tax). I guess I am not entitled to any.
Sorry this is a bit long but I thought it might be easier to give more, rather than less information. Finally, I really don't want to take advantage of anybody's professional time and judgement, but if there are any general things that jump out, it would be handy to know. I'm sure my solicitor would do the same, but it's just this limbo period I'm in at the moment. I feel like I'm living on borrowed time and that because of what DH said to me about me and our marriage, I almost feel that I don't actually deserve anything. I know, I know! I'm having counselling for that ...
Any brief general advice or thoughts would be very gratefully received.