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Original poster

Financial statement - Divorce. Anyone help?

29 replies

DCSsunhill · 26/01/2011 22:22

I have the slowest solicitor in the world. I first saw him 8 months ago and I still haven't filed for divorce yet...

Anyway, H and I divorcing due to the fact that he now lives with his girlfriend.

He earns around 17K pa. I earn £8k plus tax credits and all child benefits. We have two DC aged 8 and 6.

Our house is worth around £138K. I am paying the £20k mortgage solely, so there is around £118K equity (before all costs). I've spent around £5 on recent improvements as it is a renovation project.

Solicitor seems to be pushing me towards a Mesher Order, whereas I definately want a clean break. I can't bear the thought of H being a part of life financially for the next 12 years.

What happens from here? H won't attend mediation (mediation have completed the paperwork saying that he won't attend) and when I try and discuss it with him he keeps saying stuff like "£50K and no child maintenance, and I'll walk away...".

What will happen in court?

OP posts:
Original poster
DCSsunhill · 26/01/2011 22:22

£5K on recent improvement. Wish it WAS just a fiver!!!

OP posts:
sneezecakesmum · 26/01/2011 23:00

the 18K he is effectively offering for the DC I think would be 5 years worth of maintenance?? Does not seem a reasonable offer, check on the CSA maintenance online calculater about his payments - v. easy. Ask your solicitor what a reasonable financial settlement would be regarding the house

Resolution · 26/01/2011 23:20

You can't clean break child maintenance.

Mesher doesn't sound too way out. Not I'd have thought for 50%, but I wouldn't want to second guess your solicitor who knows more about your case than I could ever glean from a message board.

babybarrister · 27/01/2011 13:14

This reply has been deleted

Message withdrawn at poster's request.

Spero · 27/01/2011 13:20

With £118K equity, I am afraid I agree with all the others, there is no way a court would permit a clean break. Assuming a 50/50 split, you are going to need to find at least £50K to buy him out.

Why not agree a Mesher but with a clause that you can buy him out anytime you want as well as usual triggers, such as children's 18th birthdays etc, etc.

Therefore, if you manage to up your earnings, win the lottery etc, etc you can buy him out then.

Resolution · 27/01/2011 13:36

Not sure Spero meant to say that there's no way the court would permit a clean break. Perhaps that it's unlikely the court would simply transfer the house into your name giving Husband nothing?

Spero · 27/01/2011 17:43

Nope, I stand by 'no way'. He only earns £17K! Might not be a 50/50 split, but no way would op get ALL the equity in the house. If she did, I would be advising an urgent appeal to her ex!

Only way clean break seems possible here is if op can afford a fairly hefty sum to buy ex out of house.

Resolution · 28/01/2011 08:31

I'm dead against you here. On £17k how on earth is he supposed to top up child maintenance with some spousal maintenance? A judge is directed to impose a clean break if possible, and they would definitely do so in this case. I'm not sure your definition of a clean break is the conventional one.

Spero · 28/01/2011 13:54

Resolution - we may not be disagreeing.

If a Mesher order is made, I don't define that as a 'clean break'. And with that amount of equity, the only way he isn't getting some of it is if he has significant assets/income elsewhere, which dont appear to be the case.

Also, I would advise any client in this case to seek nominal spousal maintenance in case his circs improve/lottery win etc. In which case she could apply for decent money. Most DJs would insist on this where young children involved.

But the bottom line in this case I think clearly is - he will be entitled to some share of the equity, if op can't buy him out there will have to be order for sale at a later date.

Resolution · 28/01/2011 14:16

OK - we're getting closer!

This perhaps highlights the sometimes wide discretion that judges have.

I think however that there is liekly to be a clean break, and that to justify this there might be something like a 55/45 or at most 60/40 split of the proceeds when sold. Not sure that anyone would take a case to court for the sake of a nominal maintenance order though.

mumoverseas · 29/01/2011 12:35

No way will the DJ order a clean break with children that age. Well they certainly won't in my local CC.
Mesher is the way to go.

what about any other assets OP? Any pensions? Given the very low salary of your DH it really is in your best interests to resolve matters without going to Court as you could end up blowing 6 months of his salary very easily.

babybarrister · 29/01/2011 13:12

This reply has been deleted

Message withdrawn at poster's request.

mumoverseas · 29/01/2011 13:20

nice! I imagine you'd be wanting to wear rubber gloves to read them Wink

Interesting though about Bolton CC. Certainly the local Courts I used to appear in hell would freeze over before they'd do a clean break with young children.

mumoverseas · 29/01/2011 13:21

ps, you really do get around a bit don't you BB? Grin

babybarrister · 29/01/2011 13:32

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Message withdrawn at poster's request.

mumoverseas · 29/01/2011 13:44

ooh, you are so posh!

Resolution · 29/01/2011 15:00

You might get more for Horse and Hounds.

The thing about nominal maintenance is that as H is only on 17k pa he is highly unlikely to ever earn enough to be ordered to pay spouse maintenance. 5p per annum for the next 10 years , say (the judge must try and acheive a clean break, after all) simply isn't worth the hassle for 99% of divorcing wives. What might seem from an esoteric perspective to be the correct thing to do will in all likelihood incur unnecessary cost and engender ill feeling, all with little or no prospect of real return.

(Puts on tin hat and retires to a safe distance).

mumoverseas · 29/01/2011 15:05

but it keeps the door open, just in case Grin

Resolution · 29/01/2011 15:16

But to 99% of wives that simply isn't worth taking a case to court for.

And the list of situations within which maintenance could be increased is incredibly small. - increase in income of husband (to way way way more than £17k - say to around 50k), disability or ill-health of a child, husband winnning the lottery - can't think of anything else.

Also mum would get less of the house. There would be no more than 50% of the house to her when it is to be sold. There is too much capital in that house to justify continuing maintenance if the OP gets a mesher order.

Also, I believe in Bolton that the husband has to be left with sufficient to purchase the occasional used jazz mag.:o

babybarrister · 29/01/2011 19:11

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Message withdrawn at poster's request.

Original poster
DCSsunhill · 29/01/2011 19:16

Oooh, hello! Hadn't realised there were new responses. I will just read and be right back...

OP posts:
Original poster
DCSsunhill · 29/01/2011 19:23

Blimey. I wasn't prepared for your responses.
I had assumed that a clean break would be easy to do.

A bit more info:

No pensions at all that are worthwhile fighting over due to us swapping the role of the SAH parent over the last seven years.

H has not paid a penny in maintenance since leaving. He called today to ask if I'd thought anymore. He's asking for £40k and to pay £100 a month in maintenance.

I have spoken to my bank and I could get up to £45k on a mortgage. The current £20k loan (which is down to £15k now, I paid off the £5k) is with my mum. The bank used my £8k earnings plus 35% of my tax credit amount.

There is a small chance that mum would actually be able to loan me the £45k.

With respect, could someone please explain it a bit more...I just don't understand what you'r saying. My fear is that in 12 years time, I might be homeless. How would I simply produce the money to buy out H?

Thank you so much for helping.

OP posts:
Original poster
DCSsunhill · 29/01/2011 19:32

Sorry - it should read that H is asking for £45K, not £40K.

My worry is that if I don't pay him this money now, which I could afford if he actually begins to pay maintenance, I will actually owe him so much more over the next few years.

Plus I feel sorry for him (I know, I know...he left me for OW). They are renting a shitty little house. OW has no earning prospects, plus a Non Resident daughter to support.

I am a little shell-shocked...

OP posts:
Original poster
DCSsunhill · 29/01/2011 19:35

Sorry, more questions. How is the money owed to my mum worked out? We both signed a joint loan agreement saying that we would both repay the £20k.

If I repay the £20k by myself, does he still get 50/50?

OP posts:
Original poster
DCSsunhill · 29/01/2011 19:37

Shit, another thing. My solicitor said No to applying for spousal maintenance. I don't know why.

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