Going it alone - how much will I struggle financially?

[Breathingunderwater]

One of the main things that concerns me is how much it’s going to impact my children’s standard of living if I leave dh. They are 3 and 10.

At the moment I’m a sahm, although I’m planning on returning to work in September but I can’t see me finding a particularly high earning job.
Dh earns around £100k after tax.
The house is worth approx £300k and isn’t mortgaged.
I have no savings in my name.
Dh has about £80k plus some more in shares / bonds.
I have £175k in inheritance but it isn’t in my name - it’s been kept that way purposefully and is held in trust. But I could use it towards a house.

Basically - I could use that plus the money from this house to afford to buy a house outright. I’d be looking for something around the £220k mark.
So I’d have to spend the £175k plus another £50/60k from this house.
I’m anticipating not having a mortgage and possibly being left with some money after if we split 50/50 - although this feels unfair as it’s dh’s money and it will be me instigating this split. He won’t want it. Really I’d like to take nothing from him but that won’t be possible.

So if I was mortgage free, earning £1k a month, plus had the savings and presumably some child support from dh - is it doable? I would like to be able to not worry about essentials and have some left to take the children away in the U.K. a week a year. Dh will be able to afford whatever he likes - he will be able to take them to Disneyland etc.
Obviously I won’t be able to claim any benefits. I don’t even know if I’d get any help with childcare. I suspect not.

Be honest about all your assets
Listen to advice from a solicitor
Pension sharing order is a good idea. He will not necessarily share 50% might be 25 or 20%.

House will not necessarily be 50% each either.

Yes I think you can live off that amount. You will all need to adjust to change of income.

The money isn’t in my name - so currently I couldn’t declare it anyway?

There is a catch all clause T the end of form E about ‘any other financial information of relevance’ including ‘inheritance prospects’.

If your husband knows of this trust fund and your access to it, his solicitor will certainly be enquiring.

Any solicitor worth his salt will tell you honesty is the best policy. If it gets to court (and, hopefully, it won’t) a judge would take a very dim view of either party concealing assets.

Lying on a form E is also a criminal offence. I don’t know where your trust fund would sit with respect to this and you really would need to seek out expert advice.

Please don’t ignore DH’s pension, it could be worth more than your house.