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Financial Settlement with only buss account cash

  • S009
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1 year 6 months ago #506692 by S009
Hello

I have below scenario and question:

Me and my wife got separated for 15 months now. And I am planning to apply for Divorce based on her behavior.
My question is regarding the financial settlement. My wife has not applied for Divorce but has applied for Non-molestation order twice, second one is in court for hearing.

Family : Married for 15 yrs., lived together for 13.5yrs. Have two children 12,7

I would most probably not get any shared child custody or they may not at all visit me.

Finances: I don't have any fixed assets or property in UK or mortgages in UK. I work as self employed and take below threshold salary, so there is around 70K in the business account.

My wife started working in 2016 and never contributed to the house expenses, and has saved herself around 35K. before we got separated. I have another ( 6K) cash in bank accounts.

Pension pot: Me(Zero), wife (~10K)
Personal Savings: Me( 7K), Wife (20K, unless she saved or moved out)
Business, limited company money( 70K).

Please let me know, if the limited company money will be shared ( 70:30) because of 2 kids always, and also note that we got separated 15months back, so the money earned during [url=Resources/Library/Cohabitation-and-Separation_s33_m1852.html ]separation[/url] period will be counted as financial split? And I have been pay child maintenance for year now.

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  • hadenoughnow
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1 year 6 months ago #506711 by hadenoughnow
Replied by hadenoughnow on topic Re:Financial Settlement with only buss account cash
The money in the limited company will count as an asset. It may also be considered that you are deliberately keeping your income low to avoid child maintenance .

Savings in sole or joint names are also marital assets.

The first consideration is going to be housing the children and their main carer.

Is the house where she is living owned or rented? How much equity is there? Can she afford to stay there?

Hadenoughnow

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