Divorce- can I afford it ???

[Chocie]

1st time in here ! I have been reading other posts about this subject which has been really helpful !

A brief overview is - 20 yr marriage is at an end sadly and I need to move on. Children, 1 at uni and son 17yrs living at home for college.
In terms of assets we only have the house, which when all bits taken into account would leave us with £120k to split between us. I earn £1100 monthly, he gets £3k - net figures. He has a final salary pension and another smaller one.
He has suggested I keep all the equity from sale of house to buy something else - I would only be able get a tiny mortgage to add onto that if I need to.
So much questions to you knowledge people are - do I need a pensions actuary to look more into pension and what do they actually do? ( roughly £300k current CEV)

• can we sort most of it ourselves then just get solicitor involved to sort pension stuff ?
  
• would I get spousal maintenance after being SAHM for 10 yrs abroad due to his job and not being able to earn ?

[MissedTheBoatAgain]

To OP

Every Divorce is different. So beware of generalizations.

My best guesses would be:

You receive the largest share of assets to reflect you are the lower earner and had a break of 10 years whilst overseas. If you can demonstrate that as Expatriate Wife you were not permitted to work (many countries do not allow expat wives to work locally) then that should go in your favour.

Spousal Maintenance has no clear cut rules. As there is not a large difference between your net incomes and ex will have to spend on alternative housing if you keep all the equity in the house then Spousal Maintenance is less likely. Even if awarded it may be only for a short time. Lifetime Spousal Maintenance is rare.

Best to seek professional advice and tell them everything. Divorce Laws and the way Courts rule are changing all the time.

Good luck

[Chocie]

Thanks for the info. Had advice from a solicitor so need to start getting things in order. Just confused as to what to do that isn’t going to cost the earth !

[MissedTheBoatAgain]

Just confused as to what to do that isn’t going to cost the earth !

Settling amicably is a good start. If one or both partners turn the Divorce into a contest you will soon burn through your assets if Courts become involved.