I've started divorce proceedings recently. My STBXH is in a lot of debt much of which has only recently come to light.
We own a house with about 180k in equity, possibly more. I have an insurance policy in my name which he agrees I can keep. My pension, despite the majority of my work during the 20 year marriage being part-time is good, and likely to be much better than his because he has been self-employed and has neglected his. Neither of us have any savings besides the insurance policy (will pay out 32-40k).
We have two children, one in year 12, the other in year 11. The eldest if not the younger one expects to go to uni. I am now working full time.
Anyhow, STBXH has agreed that I can keep the insurance policy in lieu of all the family money that went up in smoke through his habit, and ditto my pension. His earning potential is around twice mine (although his debts are huge).
Do we need mediation? My solicitor said yes because all finances have to be disclosed and mediation is a cheaper option for this part of the process/he can only advise me on what is fair once he has all of the facts. I have booked a MIAM but was just looking at the CAB website and it says that mediation isn't necessary if both parties agree.
Thanks for any advice.