Arbitration vs court?

[howtocope]

That's it really. Is arbitration as fair as going to court? Going through a difficult divorce. Kids are both over 18. Just trying to finalise a financial agreement. I was a SAHM for 20 years. ExH was a very high earner but reduced his income by 80% after we separated. DD lives with me.

I want some support while I try to work up to a livable income. I'm essentially starting from scratch again. He won't confirm numbers, just says I can have what's left in the savings when the divorce is final, but the savings are diminishing at a rapid rate. He spent £3000 on Amex last month, which came out of the joint savings as his salary is now so much lower.

I'm happy to go to arbitration as long as it's fair. In the court process, I think I can argue my point but I'm less sure how arbitration works.

An arbitrator will have more time to dedicate to your case, as opposed to a judge who will have several cases on the go alongside. You also get to choose your arbitrator. Going to court is literally pot luck.

You’ll have to pay for the arbitrator, barristers and solicitors so it comes with an extra cost but the ordeal should be over much quicker.

Thanks, @Mumof3confused. That's a good point about time. I hadn't considered that.

How high is high and whats he gone from and to?

how old is he?I know a few people who’ve had stressful high earning jobs that just couldn’t continue once they got into 50s and needed to take a step back. not saying that’s the case here but is it possible ?

Do you know what assets there are? And are your expectations reasonable.? While he won’t confirm exact numbers do you have a reasonable view of assets at all or are they’ve complete mystery to you ?

there are pros to arbitration - but the decision is final and if it doesn’t go the way you hoped there’s no appeal process or ability to amend it

He earned over £500,000 a year in the marriage. Is now on £90,000. His job wasn't high stress. He'd done it for years, had worked to a high position and had loads of flexibility. He just decided to change careers and essentially start over.

I'm asking for more of a 60/40 split because of the difference in earning potential. We sold the family home when we separated two years ago and I bought the flat I live in now for me. He's never spent a night here, but now he's treating it as the family home and saying I need to sell it and split the profit.

There's not much in savings and I'm asking for some support while DD is at uni and still coming home to me and to give me time to build up an income, so 4 years of help. DD is on a gap now but starts uni in Sept.

He's 55.

It will probably come down to what asset £ there are overall. 60:40 would appear possible on face value but they might consider that any ongoing maintenance claim is rejected - and that would be based on current earnings.

either way if you go to arbitration whatever the judge decides is it.

Arbitration is no good for hidden assets as they don’t have the powers of a court to order disclosure.

What other assets are there? Does he have a flat?

We have three rental properties. He'll get all of them.