My wife and I are now at a point where our solicitors are sorting out the finer details of our divorce settlement. We had agreed that she would receive the working tax and child tax credits, these would go towards the nursery fees of our 2 year old son, and that the child benefits would be split evenly. Any shortfall in the nursery fees I would pay half to. We have shared care for our son on a 50/50 basis.
I don't want to give her a penny unitl the divorce is actually through - this of which we have stated. She has asked for half of the money up front - £15,000 - to overcome her 'strained financial situation' and to actively look for a house to purchase. However, she does have approx £4,000 in savings - she just can't touch it for a couple of years without losing the interest on it.
My question is, is there any savings threshold at which she begins to lose either of the credits, and hence costing me even more money than it already is? She earns about £13,000 per year, and the nursery is £363 per month. Don't get me wrong, it's not that I don't want to pay for my son, far from it, but i also don't want to cost myself more money than I can afford. It doesn't 'cost' to start looking! I am quite prepared to give her money for a deposit if and when needed, and get this whole sorry situation is sorted out.
Any transfer of money between you before the settlement is agreed will not be part of the settlement. I'm not saying you shouldnt give her the 15K - her and your son may need it. Im just pointing out that if it is then spent before the agreement is finalised then she could come bacj and ask for half of whats left.
I've heard the figure of 6000 as being the limit of savings before you start to lose some benefits.