A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Financial Worries

  • deb41
  • deb41's Avatar Posted by
  • Junior Member
  • Junior Member
More
28 Jun 07 #1057 by deb41
Topic started by deb41
Hi
This is my first post but have been reading all the posts over the last few weeks. In a nutshell, my husband and I separated 7 weeks ago after I found out he had continued an affair he started 10 months ago. Its all a bit of a nightmare as 3 times I found out he was still seeing the OW and foolishly took him back. Anyway, he is now living with the other woman and her 2 kids in rented accommodation.
I saw a solicitor 2 weeks ago and came away thinking the financial split suggested by the solicitor was too generous on my part. I have arranged to see another solicitor for further advice next week but wondered whether you could give me some advice.

Married 16 years
Two children - 13 and 5
My salary - £36k + non-guaranteed annual bonus
(my take home pay £1,900 due to paying £200 per month annual season ticket)
His salary - £26k (his take home pay £1,600-1,800 including "mileage") + additional income between £100-200 per month

My ISA £10K
His ISA £8k (upgraded car prior to separating!)
Me - Additional £4k but need to fund spending money on holiday

House - Mortgage £47k, Equity approx £150k
We both work full time, both have pensions (dont have CETVs yet although his is local govt final salary but have a feeling mine may be worth more)

As I said, he is living with the OW, she works full time too so there are two salaries available there. I am PWC and he has made no arrangements to see the children at weekends yet. I am finding it hard to carry on on a daily basis with the stress of the financial side of things. I have always paid alsmot twice as much as he did on household expenditure (i.e. mortgage, utilities, childcare) and am expected to carry on doing so. Solicitor mentioned going for a Clean Break and this would be ideal as I dont want to be tied to him for 13 years with a mesher. With a mesher is the % agreed at value of the house now or in 13 years time? Question is, how much might I be expected to pay him? On paper my salary is good although with outgoings I know I will be struggling to find £75k if its a 50/50 spit.
Will the fact that he is cohabiting, the fact that she is earning, and the fact that I will have to maintain home be taken into consideration? Am so annoyed that he can play around and I am left to pick up the pieces.

  • Tinny
  • Tinny's Avatar
  • Platinum Member
  • Platinum Member
More
28 Jun 07 #1060 by Tinny
Reply from Tinny
Hi Debs
You probably need to list the pension CETV as well but if you have care of your child I dont think it will be a 50:50 break.

Have you tried the divorce calcualtor? Apart from maintenance etc mine worked out spot on at 60:40 which has now been agreed....not signed yet but fingers crossed.

Others here will know better than me.

Take care

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11