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What do i do next? RE benefits,divorce,money from shares.

(3 Posts)
abearcalledpaddington Fri 17-Jul-15 14:55:53

Me and exdh separated 7 months ago and decided once and for all a couple of months ago that it really is over.

I am on benefits and he gives me £1000 a month in maintenance (5 kids! and yes this is allowed have checked it out)

When we were together our plans for the future were.....him sell his shares of his business,us buy somewhere with some land and maybe travel a bit with the kids!I have always sah and i also home educate the kids.

Anyway, he is in the process of selling his shares but it is going to take around 2 years as the investors want him to stay on after the initial payout (sorry if i sound thick while i describe all of this, i don't really understand it all) so he will be getting around half a million in September but then considerably more in 18m-2 years time.

What do i do hen this happens.He is happy for me to have half, and even if he wasn't happy about it as far as i know there's not much he could do about it.

Obviously i will have to come off benefits when i get the first amount, what do i do?Buy a house and try to save some to keep me going while i get a job (i have no idea what i would do!)

Also, do i need a solicitor?We are not going to get divorced yet, but as there is large sums of money involved should i get advice?I have asked ex this and he said a solicitor would just try to persuade me to divorce him now and get him to sell his shares, and i wouldn't get as much now as i would if we did it between ourselves.

Sorry if none of this makes sense i am just looking for advice.Could anyone tell me what they would do in this situation.

Starlightbright1 Fri 17-Jul-15 15:31:04

Can I advise you receive proper financial advise.. It is an awful lot of money to gamble with

Elfdoor Fri 17-Jul-15 17:46:32

With 5 kids to support you would easy be getting 60% of everything, what you need to sort is what would you be happy with?

Going for divorce may well cause the two of you to fall out and he may not then give you the money of sell the shares.

My view is if the two of you can agree about things then do that!

As to what to do with your share, make sure you and the kids are secure if that's getting a house then do it.

Question is can you trust him? If yes.....then don't worry. If no....get a solicitor because when large amounts of money are involved it can get nasty.

My ex always said he would pay me back money lent him if we split, when we did he spent it to stop me getting it back.

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