partner moved in with fiancee how does it affect financial settlement(9 Posts)
We haven't even started divorce proceedings and my exh has moved in with his new fiancee.
We currently own a house together and have two children aged 8 and 5, i was the sahp and am currently living in the house owened jointly by us. I am currently paying the full mortgage and all bills for the house with no financal contribution from the ex.
We share custody of the children 50/50 and i am currently unemployed.
My exh has also just recieved inheritance and has bought a new car. But has so far refused to be open about the sum of the inheritance.
He is only offering a 50/50 split of the house, Which is not enough to secure a new home for myself and the children.
Where do i stand legally regarding the financal split considering his inheritance and the fact that his outgoings have now halved by moving in with the new fiancee?
- he's considered to be adequately housed. So given that your children's need to be housed will take priority, if there is a limited marital pot, then your/their need to be housed will mean you're likely to get a larger share if the house capital
- it will be assumed that she is contributing 50% to the household bills, so he will have greater disposable income than before.
Remember that your pensions are also part of the marital pot.
How long have you been married, incl any time cohabiting before marriage?
What are your approx incomes?
What are the pensions worth?
What is the value of the house capital and how much does a smaller house (but big enough to house you) cost?
We have been married nearly 9 years though he moved out Dec 2014 and lived together for a year before getting married.
I don't have an income as i am currently unemployed so living of state benefits and tax credits for one of the children. I am trying to find part time work that fits in around the half the week that i don't have the children. But this is proving difficult so far.
He had a part time job that he gave up last year to start a business which has not taken off yet, think he was basically living off of working and child tax credits so believe he is working odd jobs at the moment but his new partner has a full time job.
We don't have any pensions.
The house capital is around £90k which would be enough just for me to buy a small two bed flat in an area away from the children's school.
Please go and see a sol before he spends it all. You're entitled to 50% of all matrimonial assets, savings etc. Not sure about his inheritance if it was received after the split. As he's now cohabiting it's likely if you can afford to stay in the mat home you'll be able to. Even though he's stopped paying the mortgage he may still be entitled to 50%. Please go and see a sol and get the ball rolling.
Ps in your position as you've been a SAHM you are entitled to remain one and expect the same standard of living so may be able to claim spousal maintenance.
It might be possible to put a charge over the property, so that you can stay in the home until your youngest child reaches 18 or finishes full time education. I agree with the others re visiting a solicitor ASAP.
Thanks have been advised that i should try and put a charge on the property so that the children and i can remain living here for a while longer.
Seems very unfair that someone should walk away in a very good position while leaving the other parent in a very bad position.
Bornin the 60s is not correct I am afraid. There is absolutely no right to remain a SAHM and there are various recent cases indicating this. After your youngest is 7 you will be expected to work. In addition, on divorce standards of living always reduce as there are two households to fund so it is incorrect that you must retain your standard of living.
You do need to get advice NOW in relation to matters as the law does NOT automatically ring fence the inheritance tho it is unlikely to be divided equally - have a look at the Resolution website to find a lawyer
Thanks babybarrister i got a free consultation yesterday, i wonder if i pay if the advice may be a bit different?
What I'm ultimately looking for is more time to find a job so that i can use my share of the house sale to fund a new home with a small mortgage or a slightly greater share to buy a small flat.
If the place is sold now i will end up using the proceeds to rent and live off of and will lose the the big deposit that i will have.
At my age i will not be able to build up that kind of deposit again.
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