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if we separate what am i entitled to?(3 Posts)
I think me and dh may end up going our separate ways....it's just got too horrible.
Whilst i don't want to be a bitch neither do i intend to walk away with nothing...i've sacrificed a fair bit for this marriage including my sanity tbh.
We have a house worth £350k, we have £60k equity
He owns a flat worth £130k, we rent it out
I work 3 days earn about £25k look after dcs on other days
He works full time earns £70k.
He can afford our house on his own, I can't obviously. I could barely afford rent round here but could poss get mortgage in worse area with deposit from equity.
I prepared to be skint, i know it's coming we would split custody, we'd both stay local because of dds school. But what am I entitled to? could i stay here with him giving money towards mortgage. And if we split custody am I entitled to any maintenance.
Also what about the flat? Am i entitled to any of the equity in that?
If anyone has any advice/knowledge would be gratefully recieved.
Just find a solicitor on the Resolution website. They should be a family law specialist. This board can be good for getting an answer to a specific question, but anyone hoping to get advice on here to replace proper professional legal advice is playing with fire.
Divorce settlements depend on the particular circumstances and it is only possible to generalise without the specific details - the value of any assets (including pensions) held in joint and sole names, any liabilities, respective incomes, duration of the relationship, ages, the number of children, their ages and the average number of nights they are to spend with each parent. But it really isn't a good idea to post specific financial details on a public forum.
It is a good idea to see a solicitor early on to find out where you stand and what options there are even if you then decide to go away and agree a settlement between yourselves or with the help of a mediator. Also you can collect and organise financial documents such as bank statements, mortgage statements and credit card statements so that they can be produced timely when required. The value of the assets minus any liabilities forms the matrimonial "pot" to be shared.
The pot is then shared according to a checklist of factors is s25 Matrimonial Causes Act 1973 with the welfare of children being the priority. You will need to determine the living arrangements for the children first. It's worth checking what state help is potentially available @ www.entitledto.co.uk - if you are the parent with the majority of care you would be entitled to Working Family Tax Credits which can make a significant difference. It isn't possible to just read s25 MCA 1973 to understand it and most people will require assistance from a solicitor and professional advice about how it applies to them.
I would recommend the Which? guide to divorce for for basic information. If you have a grasp of the basics it's easier to understand and remember what your solicitor tells you and make informed decisions. Everyone's situation is different and can't really be compare with other cases.
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