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What's the norm for settlement and maintenance payments(17 Posts)
If your husbands take home pay is currently over £6k, you have not worked for several years in order to support the advancement of his career therefore earn nothing at the moment. His salary is very probably going to be in excess of £250k per year from next year onwards.
I understand how marital assists may be divided as in what we currently have and I think he would accept that I have a greater share than him in the first instance. (I paid the deposit of our house from my inheritance)
He has a good pension, I have nothing. Even if I was to try to go back to work now I wouldn't be earning anywhere near what I was and I would still be the primary care giver and therefore in reality continue to support the advancement of his career by being available for the children.
What is to be expected to be paid on a monthly basis?
I wouldn't be able to keep my house (unless he was paying the mortgage which is unlikely as it's very high) is there a standard % of his salary or a calculation per child? Presumably he would need to pay for his kids to have somewhere to live and food to eat etc?
Go on the child maintenance calculator. The lower earner with the child tends to get around 60/70% equity
Message withdrawn at poster's request.
Thanks, I've had a look at the calculator for child maintenance (£315 per week apparently) I am wondering about spousal maintenance. I'm reading that there is no set calculation but just wondering what's usual in these circumstances.
70% of the equity in the house sounds reasonable given I paid the deposit when we bought it.
I haven't even had the conversation yet, I'm just working it all out in my head. It's scary 😩
Cliche101 Do an excel spreadsheet with all of your bills, food, petrol, kids' clubs etc. You will then have an idea what your bills will be on your own. The maintenance calculator is a guide, some men will pay more.
If you can't get the mortgage in your sole name and buy him out, you are entitled to stay there until a child/kids leave full time education. Ideally though, the Courts like a clean break. You could always rent a room out - look on "spareroom.co.uk".
I didn't realise there was an entitlement to stay in the house. There is no way I could afford it on my own. He would have to pay the mortgage and retain his part ownership. Ideally this would be good but depends on being amicable and affordability
I'm working on the spreadsheet of expenses. I've got most of the info
There is no entitlement to stay in the house.
Ok, I'm nearing the end of my divorce.
My stbx is on £150k plus £40k bonus. I was in a decent paying job but never returned after first maternity leave (7 years ago). We have 1 children.
This is what has been agreed.
I keep the equity in our property (£350k). But I don't touch his pension (£330k).
I receive CM is £1490 (as per the calculator) and SM of £1490 (justa coincodence the same). We worked this out as I did a budget, it has to be slashed 3x. My solicitor said to reckon on 40% of take home.
I receive 40% thisbuears bonus, 20% next year, 10% year after, and that's it.
I need to return to work and that will be a trigger for a change to SM. it will absokiely not fall £1 for a £1, as we will need to consider my childcare costs and fact that my salary not as it would be had I not given up work to look after the children.
CM will cease at 18
Hope that helps
Message withdrawn at poster's request.
How come such a massive jump in salary?
His take home is £6k. My stbx take home is > £7k but he is "only" on £150k. But you say that next year your ex will be on £250k. That is significantly more than a £100k pay rise!
The fact you paid the deposit means very little.
I too paid the deposit (my inheritance). It means squat all once your married.
*If you can't get the mortgage in your sole name and buy him out, you are entitled to stay there until a child/kids leave full time education*
I couldn't get a mortgage and not could I buy him out.
I am having to move because repayments too high for me to pay.
So we have established a figure that reasonably meets my housing needs. And that is what we work towards.
Thank you Blinky, that's all really helpful as it looks like we are roughly in the same area re salary and circumstances.
I didn't think it sounded right to have an entitlement to stay in the house.
His salary will jump if he makes partner which he is very likely to. I say his 'salary' but it becomes something different when you make equity partner I think. But this is roughly what he can expect to be earning if/when it happens
We've probably got about £60k equity in our house
Can you hold out until he makes partner?
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