Children of the Family?

Hi,

Both me and my ex have children from previous relationships. I have 3 girls aged 8, 12, 13 and he has 2 boys aged 18, and 15. When I saw my solicitor he said that the children would be classed as "children of the family" and will be considered as part our divorce.

Does anyone know how children of the family affect the financial settlement?

Hope someone can shed some light on this for me?

Rachel

If all the children were living with you both their housing needs will be a major factor in the division of capital. It's not uncommon for the main carer with children to remain in the FMH with the split being in their favour to ensure that financially both parties are on an equal (not necessarily the same) footing. In your case there are two main carers with responsibility for children so there is less argument to diverge from a 50:50 split of assets. Also as both have child related costs it reduces the ability to pay any SM.