I was looking for some advice on what my position was financialy post the breakdown of my marriage. My circumstances are that my wife has moved out taking my 18 yr old daughter with her and leaving me in the marital home with our two young boys 14 and 16
I’m the main bread winner and my wife works, I have a pension and we have some savings. I’m not looking for anything from my wife materially but wondered what I could expect coming the other way. The family home is owned outright and I would intend to buy her out. Some heads up on what my position is, what equity share I should offer, where I stand maintenance wise, etc. would be grateful. Can you help?
I''m sorry no one has replied earlier. It''s difficult to comment without knowing the details - the value of any assets (including pensions ) and liabilities held jointly and solely, respective incomes, the duration of the marriage, ages and the average number of nights a week the children are to spend with each parent.
The priority is the welfare of children under 18. A good starting point is to research local property prices and each spouses mortgage raising capabilities. If you are housing the two youngest children you will need adequate housing for them. That should be balanced against your wife''s need for somewhere they can stay for contact. If the 18 yo is in education it would be reasonable for her to be provided with a base.
You might "need" a larger property but if your wife earns less she won''t be able to raise as much mortgage as you and may require more capital than she would have done otherwise yo leave her on a similar financial footing.