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Divorce settlements

4 replies

HMQueen · 04/01/2014 01:02

My husband of 7 years (together for 19) and I are splitting up. My instigation. We have 2 children 4 and 6. We have 200k estimated equity in the house. We earn the same on paper, although he can pick up an extra 500£ per month by doing a bit extra, which often chooses to do as he is crap with money. We sort of still get on, but in the interests of moving on both went to see solicitors who have vastly different settlement options. I then came up with a compromise but my husband is attempting to stick to his solicitors advice - 50% of equity and bottom range CSA payments based on his basic pay not the extra stuff. The children will live with me as he works longer hours (and is not brilliant with them IMO). If he pushes ahead with this how likely is it that he will get it? My option involved 65:35 split with most of it as a lump sum and some as reduced childcare payments over the next 10 years. Is it worth battling on and what's the most cost effective way? I'm a bit clueless...

OP posts:
RedHelenB · 04/01/2014 08:46

I think given the ages of the children i would push for more than 50% BUT I found the most important thing is to think what do you want. For me, it was to keep hold of the house and have it in my name. CSA comes into play after a year after the consent order anyway which would be 20% of net earnings, so do any sums based on getting that minimum, I know a lot of people who went to court and in the main as they were not higher earners probably ended up with the 50% once both sides legal bills were paid off! if you can get 55% & avoid court, do the sums and if it is nearer to 65 in real terms it does save a lot of aggravation & allows you to concentrate on your children & new life more.

HMQueen · 04/01/2014 10:44

I would like to stay in the house and have it in my name, but can only give my husband 25% of proposed equity as cash (inheritance) plus the rest over a number of years as reduced child support. If I have to pay more I would need to sell. I may need to sell anyway as mortgage would be quite steep anyway. So I guess I have to look at selling and giving him more.Sad

OP posts:
RedHelenB · 04/01/2014 10:58

Well, tell him what you want & go from there.

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