Low income & about to start divorce proceedings - help!

[twosmallbuttons]

After too many years of unhappiness and depression I'm going to start proceedings to divorce DH. I hope he will accept it so we can split amicably. We have 2 kids (10 & 8), house in both our names.
2 years ago I changed careers to do something I love, but that doesn't make much money. Pre-covid I was working roughly 20 hours a week and making around £1k a month. I'm currently on furlough so my financial situation is something that is terrifying me and I just don't know how I will cope once we split.

Can someone offer some perspective or help, that will keep me motivated to push things forward? I'm so scared of not being able to survive that it's partly stopping me from moving the process forward as quickly as I want.

More info: I used to work with DH in our own company, he still runs it and I'm still technically a partner/director. We get a very basic monthly 'pay' into our joint account as well as dividends. I haven't spoken to a solicitor or accountant yet but would I be entitled to receive payment from the company until we work out how to remove myself from it?

My brain is in such a fog, I have no idea where to start :(

Bump

Sorry you're in that situation; it's shit. I would say to see a mortgage advisor first then get a free/reduced solicitor's appt. Also take a look at the "entitled to" website for benefits etc.

Then you will have an idea of what you are entitled to plus what you can borrow.

Good luck.

Firstly, I'm sorry you're in this situation, it's pretty crap especially with the current climate. I'd echo what was said above, gokn entitled to - you'll be surprised at what benefits you can get.
Is it possible to look for more hours/extra work/another job?
What is the plan re the custody of the children? If not 50/50 then you will get child maintenance. How much does you husband earn? If a lot more than you then he may have to pay maintenance anyway to ensure there isn't amssive discrepancy in income.
And yes, get a free consultation with a good solicitor (not a knob - the first one I went to was a chauvinistic twat!). I went from freaking out to trusting I'd be alright xx

Start keeping notes and copies of paperwork. It will help with the fog and keep thing clear.

See a solicitor, you may find you get more from the business than you are now, or money in lieu of his pension, or any combination of things that you don't know about yet. Well worth finding a solicitor you feel comfortable with and getting advice. Do you know anyone who has divorced to ask for a recommendation?

@Worakls, are you suggesting that contact should be reduced to increase maintenance?

@auberJohn god know not at all!! I wish I had 50/50 with ex but it just didn't work out. What I meant was if it's not 50/50 then you will get maintenance, dependent on number of nights they spend with their dad. I'm a firm believer in both parents being equally involved in raising their kids, when this is possible.

That should say no, not know btw

If your kids are currently 10 and 8 and you are on furlough, what are you doing now to improve your situation? Right now you should have a lot of time on your hands, can you use it to train, to start looking for something with more hours, or to see what other options there are for you? It may be you need to take on something you love less but that pays the bills - I'm a single mum and work full time, which I don't love, but there were no decent part time jobs in my field and I didn't want to be skint and trying to raise 3 kids.

How much does he earn? If it's a lot more then I'd say you should talk to a solicitor, use up savings or see if parents or family can help, even if it's just one or two appointments.

You should have a right to a chunk of the equity of the house, plus pensions, plus look at CMS for what you might get there. If he earns far more you might get some spousal support but that's not usual. One risk is that if you don't end up with much from the house, you'll be back on the private rental market with a very small income and minimal benefits.

Look at entitledto.com
Look at the saving advise moneysaving expert

Then try really hard to find more ways to get more coming in, it's easier to get more money in than scrape every penny.

Thanks for the advice.

@Worakls If we take my current earnings (not including pay/dividends from the joint company) then DH earns at least 3 times as much as me. But providing I can still be paid from the company (until we work out how to extract myself from it) then I'll be ok.

@OverTheRubicon I started my own business in the summer during first furlough, which brought in a good chunk of money, but it's slightly seasonal work so I'm not earning as much from that at the moment. I will certainly look at other income streams too.

I expect he will want 50/50 with the kids, which I presume means I won't be entitled to maintenance?

If you are on a low income, you should get help with the £550 court fee (may have to pay a percentage, may not have to pay any)
Check out the help with court fees on the government website. Then just have to pay solicitors fees if you are using a solicitor.
A small bit of help if you are worrying about money, but do press on and do it if you want to do it, you will be so much happier when it’s finished.