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Hi
During financial settlement in court are assets and debts taken into consideration. Ie with my hard work assets have been built up but In my wife’s name. I have debts in my name. Are the books so to speak, balanced first before funds are, hopefully equally divided?
thanks in advance
hi,
generally both assets and debts are taken into account, together with both parents earning capacity/take home pay. Also the needs of both parents, who is primary carer of children etc.
There is a guide about divorce on the advicenow.org website which you may find helpful
Hello all
I will receive final order in couple of weeks but we haven't come to terms for financial settlement yet
In brief, we have 2 small children and 2 houses(both mortgaged) 1 we live in and the other rented.
The one we live in has equity of £275k and rented one £100k. Wife wants me to take rented property and move on with clean break.
Assets wise she earns more, has more savings and pension pot.
Divorce reason - hers extra marital affair.
Shall I fight for custody of children ? And do I stand to lose out the residence to her?
Thank you
@dad40707 if she will be primary carer of children, then very likely courts will give her family home, based on her needs.
what child arrangements are you seeking?
@dad40707 I am very sorry to hear about your divorce. It cannot be an easy time for you all. I cannot speak into the financial decision making, but I can encourage you to reflect why you might seek custody of the children. Please don't be tempted to be swayed by finances, as unfair as things may seem. Whatever child arrangements you reach, the children will really benefit from time with each parent going forwards. They may be too young to understand what is happening now, but they are still likely to sense that changes are happening. Think about how you can continue to spend consitent quality time with them, doing things that they enjoy, giving them your full attention (phones away!). Not only will this provide them with the reassurance they may need (they are loved and that is not going to change despite other things changing) but it will also enable you to continue to build and enjoy the bonds you already have with them.
Going forwards, you might find something like our online parenting after separation course worth having a look at Parenting After Separation course | Separated parents course and there are lots of parenting resources on the Spurgeons website.
I hope that you are able to find a solution which works for you all, but particularly the children.
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