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Any advice would be welcomed.
My wife and I of 5 years are likely to separate and are discussing it now which is pretty heartbreaking and won't be a great process for us. We are trying to work out the financials and wondered if I could get some advice. I earn about 3200 after tax and my wife about 300 as she looks after a kid a couple of days a week.
I own the house with her where we have about £135k capital in it following my investments and savings from myself and family pre marriage. It would be good to keep the family home as it is great for the kids with school so I expect she will stay there and I will move out and rent or buy later. I know / expect this would be split 50/50 through divorce.
My questions is how should I best support as I doubt we will get lawyers involved, child maintenance is about £600 and I would probably pay the mortgage on our house still in full as a form of spousal maintenance but she would take over all new bills with the support of benefits and child allowance which she could now claim.
Is this fair and appropriate? I want to make sure we both have a life and can house the kids but knowing I am the only real earner wanted some advice. Any support welcomed. Thanks.
Oh and based in UK
Hello Tom1986,
I hope you can work it out amicably without lawyers but I do think you should seek legal advice on your options.
Child maintenance will have to be paid either through a family arrangement or through the C.M.S. The amount agreed is not forcible with the former but with the C.M.S. it is and by law has to be paid. Either parent can open a claim for child maintenance payment at any time.
With regard to paying the full mortgage this will be another financial outgoing for you along with child maintenance payments which could be on going for years.
Please remember you will have expenses of your own to consider if you move out of the family home. You will need accommodation which is suitable and enables you to have the children for overnights and sufficient finances to run your own home.
No doubt you are using your income received at present to do your calculations but it may be wise before "setting matters in stone" to allow for any drop in income (which I hope does not happen) in your calculations. If that did occur you would have considered the worst case scenario which then would protect you from any unexpected financial difficulties.
I have no doubt you wish to be fair and reasonable but do remember you have a life to lead after this has been sorted out.
As stated, please consult a solicitor and get to know your options before deciding what to do.
It's really for you to decide what is fair between you if you can keep it amicable. There are services that can help draw up the paperwork at much less than the cost of a solicitor if you can do this, and it has more chance keeping it civil. I'd look at the child maintenance calculator as you will be forced to pay that if your ex goes to CMS, so you may as well make that level of payment and build it into the divorce. I would make two separate payments each month, and specify very clearly on the child maintenance that is what that amount is for - it could save you a lot of grief if it does ever become acrimonious.
I used a service for my divorce, and can recommend it, all done by email and telephone - PM me if you want details.
Hi There,
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I agree that you should take some legal advice, I know you don't want solicitors involved but actually if you both went along to the same solicitor to try and get an agreement written up, they wouldn't be pitting you against each other, but helping to set things in stone.
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As said above even if you do agree an amount of maintenance either you could still start a case with CMS at any point, I would also if you pay her directly and not through CMS then ensure the money transfered so you can prove that it was payed.
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GTTS
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