I won't go into the ins and outs but marriage is over. I am looking at moving out and renting somewhere while DH remains in the family home. I am happy to do this. In fact I want to. We live in a village and I'd rather be in Town where I work and DS goes to school.
I have been looking at entitled to as I earn just over £14K a year in salary. I work 30 hours a week. It asks if I am a home owner which until the family home is sold I will be so I answered yes.
Secondly, I own another property. It was my brothers but came to me when he died. I tried to sell it but it wouldn't sell. Was right at the downturn of the market so we became landlords.
In my mind and this is still to be discussed, I would gift the let flat to DH. He quite likes having it and going forward would be able to afford to deal with any maintenance issues etc. In return I would receive a higher share of the equity coming out of the marital home when it is sold but to give us all breathing space I think once I move out and rent and DH is on his own we wouldn't sell for 6-12 months. There are ongoing maintenance issues in the marital home and they will need to be dealt with before the house goes on the market anyway. That and we live in quite a difficult area to sell in.
So, I am assuming this is where a separation agreement comes in? Everything is agreed formally between us both however, for tax credits help it asks if I receive any other income. Yes I do from the rents but if they are gifted to DH I wouldn't? Would I include any maintenance from DH here?
I know I am probably best to ask for advice from a Solicitor or the CAB but wondered if anyone had any advice?
Thanks
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Going our separate ways and need some advice financially if you can please?
5 replies
kingshill · 29/10/2015 12:56
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