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Dividing assets, what is fair?

4 replies

mpuddleduck · 31/07/2010 02:40

I seperated from H last year and he moved away.
4 children, live in rented accomodation.
Small amount of savings (just enough to not be eligable for legal aid)
He has had 3 of 4 children for one night in 14 months and seen them only 5 times in that time.
His solicitor has said he is happy to pay maintenance at the going rate (his pay is commission based, so the basic is low) and split the savings 50/50.

I would like to try and reduce my legal fees so would appreciate any advice as to what might be a fair split given the circumstances, do I just agree or should I fight for more for the children?

Also, now I have started going through a solicitor can I just agree or suggest a split with him by email and just use the solicitor to draw up the agreement?

OP posts:
mumblechum · 01/08/2010 11:56

What is there to split other than the savings?

If that's it, then assuming that your salary is less than his, I think you should get most if not all of the savings on the basis that it's going to be harder for you to set up again (if you have to change rental property in the near future). I'm assuming that the savings are a little over £8k? If he earns the same amount of you, the argument that you should receive more is weakened, but you still have the children living with you.

So far as mtce is concerned, he should pay 25% of his net basic. On top of that he should pay 25% of his commission. That can be worked out either monthly, quarterly or annually depending on how the commission is paid. He should allow you sight of his P60 each year so you can see he's being fair.

mpuddleduck · 02/08/2010 00:15

Thank you mumblechum, thats it, just the savings, apart from some old furniture and bits and bobs in the house.
I have heard of 60/40 or 70/30 splits, is it just a case of picking one and suggesting it to him?
He earns about £6ooo more than me before commission,
Also the mainten'ce, I guess if I tell him thats what should happen (although I suspect he already knows and has just been putting it off as long as possible) he would then pay into my account. Would it be worth trying for anything to help cover what he hasn't paid for the last year, or do I just have to accept that he hasn't paid anything towards the children?

OP posts:
mpuddleduck · 05/08/2010 09:05

Can anyone offer any more advice on what split I should propose?

OP posts:
Michellegal · 05/08/2010 11:51

If you wish to keep your legal costs to a minimum you should consider attending Mediation Sessions with H assuming he still resides in the UK. In mediation you can discuss all issues, which include the division of the savings and household contents, child maintenance plus the issue of contact.

With regards to the likely financial settlement of your case, if H earns about £6,000 more than you before commission and you are the primary carer of the children of the family, this is a case where H should be paying maintenance for the children and you. The maintenance for you is called spousal maintenance and will depend on what your reasonable outgoings are less the income you receive from all sources with H making up the shortfall.

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