So anxious about legal stuff as I will be the one who will have to manage everything and not sure if I can buy him out. Does it really get better in time? It doesn’t feel like it ever will
Sorry you’re also going through this @WorriedHullg1992 There are a few of us in the same time frame as you, some a year or two ahead and from what I’m reading it gets better. It’s just a long bumpy road! It’s shit and I’m less than 2 months since my separation. Slightly more good days than bad, but not going to lie, it’s a struggle for me.
From a practical point of view, what has helped me is getting organised. I’ve set up a spreadsheet and got down everything money wise including assets (equity, savings, pensions) debts, income etc in one place.
I found a really helpful Budget Planner www.moneyhelper.org.uk/en/everyday-money/budgeting/budget-planner
I filled this in by having my online bank open and listing all our direct debits for the house etc.
I found our latest mortgage statement too (it’s who we bank with so easier for me) and did a bit of research on value of our house (look at rightmove for your area) and that worked our our equity, then divide by 2 for 50% as a ballpark)
Following that I made an appointment with an independent mortgage advisor. Suppose you could do your own research online but the lady was recommended to me (also divorced) and she was brilliant (can recommend her!) She needed info on my salary, debts, savings/equity to put down etc. before she could give me mortgage rates etc. but doing that gave me more of an idea of what I could afford and options for now, and the future (eg buy him out, then maybe move later)
My next bit of advice is to read up on the separation/divorce process. www.advicenow.org has some fantastic guides (you can buy hard copies for £20 but the downloads are free).
It helps you breakdown the (long) process to divorce. With you not having children you may be able to do this amicably - depends on your assets. I know everyone says “get a solicitor” and I’m not against this but just consider how amicable you can do this without the cost. I’ve had an initial meeting with a solicitor but believe I don’t need her until a bit further down the process - she’s given some good guidance but we’re leaning on a mediator service instead (1/4 of the cost of a solicitor) which so far, is working. Obviously every separation is different and those ‘H’s being utter knobheads, definitely need a good solicitor!
Guides I’ve found useful but there are loads (I’m watching a video on filling out Form E which is the financial declaration to the courts, 28 page form!! So video has been useful)
A survival guide to divorce
How to get a divorce without a lawyer
Pensions and divorce - useful if he has a good pension and yours not so much eg defined benefit. It’s easy to forget pensions but important to protect your future