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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Divorce - assets split concerns

83 replies

Free83 · 06/11/2019 22:02

I’m currently awaiting my Decree Nisi and am trying to sort the financial split with my S2BX. We’ve been married almost 10 years and have two children, aged 5 and 6. I used to work in a well-paid position in an Insurance firm, but gave up to look after our kids (they’re so close in age it made sense to stay home rather than put them in childcare). I’ve since worked in childcare, as a TA in my daughters’ school so I can be there to drop them to school and collect them every day. I have also started childminding this year, offering wraparound care for children at the school to earn a bit more. Unfortunately, because I’ve been childminding for less than 2yrs, no mortgage provider will take my earnings into account, so all I can evidence is £370pcm as a part-time TA. My contract at the school ends next month and they don’t have a position available to keep me on. My husband earns £102kpa, plus a discretionary bonus (in the 5yrs he’s been at the firm, it’s varied between £22k-£35k). His travel and lunch is paid for by the firm as a benefit in kind. We have £400k equity in the house and he has a pension of just under £300k. My pension is £60k. He is proposing that we split the equity in the house, giving me £250k and him £150k. He said he will pay £1k each month in child maintenance and give me £600pm in spousal maintenance. A 3 bed semi (we’re currently in 4 bed detached) in this area is £450k at a minimum, so I accept that we need to move, possibly much further away. This may mean the girls changing school and will certainly mean I can no longer keep my childminding clients. We have our next Mediation session in a couple of weeks to try to sort out the finances. Is what he is proposing correct? I don’t see how I will house, heat, feed and clothe the girls on this basis, but am soooo determined to not end up in a fight with him about money as it is absolutely key that we remain amicable for the girls’ best interests. Just need to prepare myself if his suggested division of assets is the likely outcome.

OP posts:
Weenurse · 04/01/2020 06:25

Don’t be afraid to seek out alternative legal advice if you feel your current one is not on your team.

Wallywobbles · 04/01/2020 06:52

It's a common error to go with the first lawyer you see. No 4 was golden for me

Oblomov20 · 04/01/2020 07:05

Poor You OP.

This is why most people near me can't even afford to leave their marriages, because they simply can't afford to keep their kids at the same school: rent a shitty 2 bed flat here for much under £1k.

Thesuzle · 04/01/2020 07:21

I read somewhere a year ago that the new way of splitting is, keep the family home, buy a small two bed flat nearby, the kids stay permanently living in the marital home, and the parents when its not their turn to “have the kids” live in the flat,
So no disruption for the children, then when youngest is of age or leaves for uni, the situation is re assessed, sell the two properties then and divide assets

Weenurse · 04/01/2020 23:05

Others have said you need to realise you are no longer a team.
It is now Everyman for himself.
He is stating his wants but not taking into account your needs.
All well and good to try to be fair, but what he is suggesting is not fair.
Just tell him you can’t agree and will leave it to the professionals.

Livandme · 09/01/2020 11:23

Thesuzle, this is what we are doing but as it's so new, renting a small property for the initial 6 months and see how things are towards the end of that period.
I really don't want to be tied to h indefinitely but likewise I need the dc to feel secure.

averythinline · 09/01/2020 15:20

Ignore what he thinks and feels seriously.. your answers are about what he wants... I think you may need a better lawyer as this is a very poor deal

Ss770640 · 11/01/2020 23:08

A so called "better lawyer" will not alter the fact that they obey the law.

Change lawyers as much as you want. But they all obey the law. Sure some are better than others. But let's cut to the chase: you want an outcome the lawyers cannot deliver.

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