Hi, seeing a solicitor next week to initiate first steps to a divorce, just wondering if anyone can help with some questions?
DH earns reasonable money but as a self employed contractor. His money goes into his business bank account and he just transfers money to cover expenses as needed into our joint current account. My salary (only about 700 a month) and child credits also go into that account. He has only just done his first years set of accounts, he has some money in his business account to pay his tax and VAT otherwise no surplus really.
Our house is rented. We have no other assets except some money in a joint savings account (not easy access, would take a while to close it) and we each have a pension in private schemes from when we worked for a big company, we are no longer paying into these.
Our current lifestyle is very expensive, long story but we rented a big house for family reasons and it hasn't really worked out. We were toying with the idea of moving anyway, probably buying a smaller cheaper house. Our current rent is a lot plus council tax, heating, petrol, it all adds up. Apart from the booze we don't really spent a lot on non essentials.
If I tell him I am instigating divorce proceedings how do finances work in the short term, given that I can't pay the rent and everything else on my own? He will be difficult and controlling with money, I can sense this - he often talks about things in terms of him paying for them, it's all money "he" earns to "keep" us, my contribution is irrelevant it seems! Also I can't see him being keen to move out, the only good thing is he is in London most of the week already.
In the longer term once I can get access to the cash in the savings then this would help me rent a new smaller place for me and the DD's. How would this cash likely be split? 50:50? I don't really want to have to move before Christmas if possible but would like to start looking around. I won't have enough to buy anywhere.
I don't have a bank account in my own name although this is easy to set up - should I do this and get my own pay etc paid into it? What about tax credits, if I apply in my own right I would get more but could I do this with him still living here?
Phew that is a lot of questions sorry! Thanks to anyone who can help.
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Divorce/separation
Hi all a few questions about mechanics of first steps if anyone can help..
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teenyweenytadpole · 26/10/2012 01:02
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