Ummm, is this right? - separation money stuff

[KathySeldon]

If a bloke leaves the marital home, and buys his own house, is that considered a family asset? Also, he runs a successful business whilst wife stayed home to care for 2 kids (one ASD), and he's saying that's her decision and she has no claim on his business earnings. He has the dc 2 nights a week, but wife collects from school, takes to actives, feeds them and packs them up ready for the next day. She then delivers them to husband at 7pm. Does this really count as "having the kids"?

I have arranged for my friend to see a family solicitor friend of mine, as she is in such a state I don't think she realises what is happening.

Surely he is taking the p*ss???

[mumblechum1]

Hi, the property he has bought will certainly be considered in the overall settlement, especially if he used joint money to buy it.

He has to pay 20% of his net earnings for child maintenance and may have to pay some limited spousal mtce but the wife will be expected to go to work at some point if both children are at school.

The child mtce will be reduced if the father has them overnight for more than 52 nights per year. If he's only having them from 7pm and they're in bed at say 8pm it's probably not worth there going to their dad's during the week.

She will of course be entitled to a share of the marital assets, and there are various ways that could be achieved depending on what they are, but she needs to go over the actual figures with a lawyer,as you say.

[Collaborate]

I agree with Mumbles

[MOSagain]

agree with Mumbles and collaborate as always

[KathySeldon]

Apparently he had a separate personal account as well as the family joint account she used. The new house came from his own account.
I think he has played the system well, but hope a good lawyer can get my friend a decent living. Can she stop him having the dc just from 7pm?

[STIDW]

All the assets held in sole or joint names are relevant.

How old are the children? Above all contact arrangements need to be practical and there is no point in a parent having contact in the week if they can't have the children before seven and then it's almost time for the children to go to bed.

[mumblechum1]

It's not really a matter of her stopping him having the dcs from 7pm; how old are they, are they enjoying that contact, are they getting good quality time with him, etc etc? If they're tiny and they're only spending an hour with them, she can simply say it isn't working, but ultimately they should try to make arrangements which suit the children. Those arrangements are likely to change over time.

So far as him playing the system well is concerned, not sure what you mean. He has to provide full financial disclosure of all of his finances including any business accounts etc, and so does the wife.

Unless he has a very high income and can afford to pay her significant spousal maintenance because he can pay everything for two households, though, she's going to have to polish up her CV and get looking for a job.

[KathySeldon]

The kids are 10 and 13.

He has claimed to her that he has no money left to give her (cos he spent it all on the house - and new furnishings) and the business has little in the bank so its not worth much. It all sounds to me like he's arranging things so it looks like he has no money. He does very well for himself and his business does well too.

I need to make sure she calls the lawyer tomorrow.

[STIDW]

The value in the business may be income rather than capital. Either way he will need to disclose business accounts and a valuation for the new property, although if your friend and the children are housed in the former matrimonial home it perhaps isn't unreasonable for him to have bought a new property to live.

[KathySeldon]

He wants to sell the marital home and take one third of the money.

[KathySeldon]

I also thinks he's been planning this for a long time, as for the last few years he has been claiming they can't afford a holiday, a second car for her, or even to do the house up. Then all of a sudden without telling her, he announces he's put down a £175,000 deposit on the house opposite, and it's his own house, and he'll be moving out as soon as he completes. Then he said, oh, actually, it'll be a bit longer because the decorator can't come until xxxxx and the new furniture isn't arriving until xxxxx.

[clam]

.... and the new woman moves in.... when?

[mumblechum1]

Hmm, if she wants to play dirty she could stop him from buying the house (assuming he hasn't exchanged contracts)by applying for an avoidance of dispostion order under ?Is it s57 MCA? - someone will put me straight if not - which is essentially a freezing order on his bank account until the court has had a chance to look at things. It's just a temporary stop but if she can direct the solicitors to exactly where the money is, it may be worth a shot.

[KathySeldon]

the house is a done deal. All behind her back. This happened in January. He is now living there - right opposite my friend. (actually, it is approx 100yds down the road opposite). He wants her off the joint bank account and off the life insurance policy. She has found a job, but she won't be able to stay in the house. I just hope it isn't too late to get the lawyer in.

[KathySeldon]

My lawyer friend is a resolution one. So I'm relieved to know I've recommended someone suitable.
what.a.horrible.mess.
I had no idea it was going so badly for her until she got drunk last night and it all came pouring out.