looking for some advice re untangling our joint finances.
My wife and i are splitting up after 15 years of marriage, we have a joint house, i am the only worker (even though i encourage her all the time to get a job!).
I am currently purchasing an additional house for myself, and we are selling our current home so that she can move into her own house - we have agreed a financial split of the equity of the house and have agreed on a monthly amount that i will pay for the children.
Where do you start on untangling finances? - how do i stop her from taking out of the joint account? - i have asked and asked her to get her own account setup, but so far she is living with her head in the sand and wont get off her backside to do it.
My own experience with the bank was that I had to get STBX to sign a form along with me to revert the joint account to my own personal account. That was Natwest - others here have had different experiences with other banks.
If she really is being difficult then you may want to consider contacting the bank to remove any overdraft facility on the account. Tell them the circumstances and then move any Direct Debits / Standing Orders to a new personal account of your own and have your salary paid into the new account. Tell her what you have done and advise her that any further debt incurred from the joint account is hers.
If she refuses to open an account, pay her the agreed maintenance in cash and get a receipt from her. It seems petty and ridiculous, but you must protect your finances for both of your sakes.
As far as the financial split goes, it would be advisable for both of you to take legal advice as to the 'fairness' of the split, before it is converted into a Consent Order.
Others here will advise you on the likely split a court would order if you post details on here. Need to know:
Any other loans or debts
No of Children and ages
Who will be PWC (Parent with care)
Any other significant assets
At the moment we are both living in the family home, i am paying the mortgage and paying for all the bills. I have suggested to her that she should look to sign-on or apply for jobs or apply for working tax credits etc - but she doesnt want to until we start living in our separate homes!!!!