Solicitors or anyone who knows about finacial settlements - Help please

[coldupnorth]

I'm in a dilema and can't make a decision. Have separated from H. (found out he had been messing around with somone else). We are both directors of our own business but me mainly in name only as I have a medium paid 'other'job. I don't trust him an inch but he has made an offer which on the face of it seems v. good. He suggests we pool all our expenses for his house/the 3 kids/ and everything else. Then any income left over we split 50/50. as he earns about £3,500 more per month than me this SEEMS a very good deal and will keep me and the children financially secure for a long time. However I'm worried off my head. Does anyone know how easy it is for him to hide money so it won't show on the business account. Could it all be tracked? What if he declares him self bankrupt when he gets fedup with the arrangement. can he just start a new business the next day and without me as a director? Or should I go for a 'clean break' spliting the business (and probably wrecking it in the process) + all the usual assets. Am crap at decisions and money so any advice is incredably welcome.
Can't even decide to make a cup of tea at the mo.......

Best thing to do is to get a copy of the business accounts and any other relevant financial information and go and see a solicitor. It's very easy to offer advice here, but it could be fatal without having everything relevant to hand.

Wrt bankruptcy, he would not be able to be a director of a company whilst under a bankruptcy order. If the business is his main source of income, then it would be silly to make any move which is likely to adversely affect that - unless he could easily secure alternative employment at the same or better rate of pay.

Are you proposing to get divorced? If your solicitor feels that the proposed arrangement is a good one, you could get it drawn up as an agreement to be endorsed by the court as part of the divorce et al process.

Message withdrawn

Thanks essbee & Freckle. I've had initial talks with my solicitor but she seems v. vague about it all. So I think we both now need to do a financial disclosure.... groan!

Thanks for the all the sound advice - it's much appriciated.