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Divorcees, advise n...
 
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[Solved] Divorcees, advise needed

 
(@BMurkin)
Honorable Member Registered

Wife will be divorcing me and according to her solicitor

- seeks 50% of my assets
- doesn't want maintenance money from me but seeks a financial settlement to secure the financial future of our son

This is made me LOL

She plans to live at her parenst house for free. She'll inherit their house after they're gone. She doesn't want to live at our house. She works full time and earns around £40k per year. I earn £34k.

- Don't know what she has been telling solicitor but the only asset I have is our house - both names on mortgage. I can't afford to buy her out so I guess only option is to sell. However, first im gonna propose that I take over the joint mortgage, continue to live there and hand over property to my son when he turns 18. If I sell it before, then I'll split the profit with the wife. If she doesn't go for that, I'll sell but I don't have time so I'll say that she can do all the leg work. Realistic or stupid?

- they also mentioned my pension. I just have a work pension that my employer pays into. How do I give her half of that

- then there's money in my personal bank. I'm around £1k in credit and the money I did save will now be spent on legal fees. Is she entitled to money in my personal account? It's not joint account

- this financial settlement that she seeks to secure my sons future. what the [censored] is that about? I don't have money like that. I only earn £34k per year. Not some millionaire to giving settlements that secure people's futures

- confused by her refusal of maintence. Especially when she doesn't want me to have overnight. I'm actually gonna fight through courts for 3.5 days shared residency. If she insists she doesn't want money from me now can it bite me in the [censored] if she changes her mind 5 years down the line, would I be expected to make a backdated payment?!

Any advise appreciated.

Quote
Topic starter Posted : 07/03/2015 4:01 am
(@BMurkin)
Honorable Member Registered

Just heard from wifes solicitir that she doesn't want Maintence money from me but wants a settlement to secure financial future of our son.

I earn £34k a year and don't have the kind of money to secure people's futures lol so I have no clue what she's on about.

She actually earns more than me and I'm seeking 3.5 days shared residency.

Can she refuse my maintence money like that and what if she changes her mind in 5 years time, would I force to make a back dated payment.

Explanation and solutions please

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Topic starter Posted : 07/03/2015 4:09 am
(@dadmod4)
Illustrious Member

You need to speak to a solicitor with regards to the split, However, I would be extremely wary of her saying she doesn't want maintenance - I would guess that she wouldn't get spousal maintenance anyway, but in a years time, she could go to the CMS and open a case for child maintenance, and that would override any agreement made in court with regards to child maintenance, so you are best assuming you will pay child maintenance at the rate set by the CMS and work everything else around that.

I've moved your second post into here as it's pretty much the same topic - can we ask that you don't post the same question in more than one topic as it can leaded to disjointed replies.

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Posted : 09/03/2015 1:25 am
(@got-the-tshirt)
Famed Member Registered

Hi There,

This is quite normal, for a 50% share, and in fact a lot of solicitors will actually advise that the split is at least 60/40 in the resident parents favour.

With regards to the pension sharing, the way that is worked out, is they will look at what you have in your pension pot now, and then split that 50/50 and remove the 50% and place it in your ex's pension pot again this is quite common.
What your wife earns doesn't come into how the split is made, as actd has said her wage will almost certainly mean she won't apply for spousal maintenance as she earns more than you.

Again though as said before, be very careful about basing your agreement on the fact that she doesn't want maintenance from you as even if a court rule this in the final order of divorce this will only stand for 12 months and then the CMS/CSA can over ride it, so if she decides to apply for it then you will have to pay, the CMS/CSA can only back date up to the date the application is made though as far as I am aware so there shouldn't be any back dated payments.

You really need some legal advice with this we can share our knowledge but it is limited where divorce and finances are involded.

GTTS

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Posted : 10/03/2015 1:56 pm
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