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Relationships

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Sorting out finances - advice please

29 replies

Usernamechanged · 28/05/2021 09:13

Quick background: two primary aged DCs. Trying to get my head around finances etc prior to inevitable separation. H the higher earner, not by loads. Would expect kids to stay primarily with me but see/stay with him couple of nights per week.

For kids’ stability I would like to try and stay in this house. I can just about afford the mortgage as is by myself. We have a good chunk of equity though and I can’t afford to stay if he gets half, I.e if I need to pay him off.

The amount of equity is broadly equivalent to the child maintenance he’ll pay till kids are 18. Is it ridiculous or even legal to agree that I keep the house and equity but he doesn’t ever pay maintenance? I can survive financially without it and would rather keep the house.

Would welcome advice.

OP posts:
osbertthesyrianhamster · 28/05/2021 11:21

You need legal advice. Having worked in this field before, however, I agree with the wise words of a prominent divorce solicitor: the no. 1 mistake women make in divorce is trying to hang onto a house they cannot afford. The no. 2 is being nice to mollify the other party and not getting a fair share of assets besides the bloody house. They get tunnel vision about the house. Don't agree anything without legal advice. But honestly, you need to look at the assets as a whole, not just the house.

People have to move house all the time. Kids, even. They survive. Especially when they're so young.

Rainbowqueeen · 28/05/2021 11:26

Agree with above.

Don’t just focus on the house. Add up value of all assets. Then look at how they are divided
Do not forego rights to pension just to keep the house

BarkingUpTheWrongRoseBush · 28/05/2021 12:56

Yes, if you don’t have a pension,think about that. Kids deal with changes.

Morechocolatethanbarbara · 28/05/2021 14:20

You'd be a fool to not get any of his pension when it's worth so much more than the equity.
Just take a smaller proportion of the pension until the values are even.

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