Not sure that it is. Is the proposal that you sell the house? If so where are you to live?
You are currently unemployed but with youngest child aged 12 would be expected to get a job and your earning potential would be taken into account. When did you last work? If you have been a housewife since your children were born I would think you are entitled to more. Your husband is on a good salary
When do the endowments mature. If there is more than one policy, what are they each worth?
You say you are unemployed at present. When did you last have a job? What did you earn then? How likely is it you will find employment soon? Do you need to retrain? What kind of salary would you expect?
Can you afford to pay half of the school fees? Is your income sufficient to cover household costs? How big is the house?
What type of pensions do you both have?
Sorry about all the questions. Just trying to get a fuller picture.
House,, Was hoping to keep house re security for children. Not sure how I can fund any home though!
Work.... Worked most of married life but took last 9 years off re long awaited 2nd child. Got a temporary 9 month job after split., split (split 2.5 years now) But nothing at moment. Frantically lking. Approx 7k gross if I''m successful.lot less than I got 9years ago! Prospects not so gd re current climate like most.
Spousal maintenance.... Mentioned to legal team but did not get any positive feedback,.!
Pension... His value government pension 325k s quite accurate with lump sum 60k in 10 Years. Close to accuracy.
I don''t know what to do as although I have savings I have no income or job not entitled to any other benefits either at moment.
Redwine, what is his housing situation? Does he need a deposit for a mortgage?
What worries me in your post is what you say about not being sure if you can fund the home. There is no point keeping the house if you cannot afford to live there.
You need to take a long hard look at your finances and think about what you need vs what you want.
It may be there is a case for sm even for a limited term to allow you to retrain or at least improve your skills so you are more employable.
You may need to downsize to a more affordable property. This will depend on how big the FMH is and what can be saved by moving.
You may need to reconsider private schooling. It does not look like your budget will run to it.
One obvious way to split things would be to split the whole marital pot 70:30. This pretty much equates to house to you, savings and endowments to him.
Another option may be to have a charge on the property so it is sold when say youngest finishes first degree. He would get say 40% then. Some savings could be ringfenced for school fees. I reckon you are looking at 25k+ . That would leave some 60k to split between you now. If ex does not need deposit, that may be fine. Bear in mind that savings will impact on benefits. You also need to be sure that your eventual share of the property would be enough for you to buy something suitable.
I don''t understand the logic of the 40:60 pension share. Is this 40% of the whole pot? Or of his pension fund?
His income is, and probably always will be, much greater than yours. You are PWC. That would be reason enough imo for you to have a greater share of the cash assets without any need to offsetpension share. In my view it should be 50:50 equalisation of income on retirement.
He is renting a furnished flat has quite gd deal. 395 pm.
Funding a home. I am in family home mortgage free. So requre to pay same house hold bills for any home eg electric, oil, food, car etc. Also don''t want to disrute children.
Child had to do exams to get into school just finished first year. It''s not private.but there are supplementary fees to pay, also travel costs, uniform, music lessons etc.
Work. I did training course to update skills, also have reasonable qualifications. Have tried my own town and further afield, work is sparse and numbers applying for each job is shocking.
Pension was 40% of his pension. I thought perhaps 50%
Basically I need cash to live off while awaiting work, if lucky it will be temp contract anway, so need cash backup. In between. Would asking for home and all savings, endowments be out of the question. With no sm and none of the pension.? He has good income, secure work large pension.