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calculator asumptions ?

  • robin
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10 Dec 07 #8771 by robin
Topic started by robin
I am the major earner approx 5.5k/ mnth and x2b works parttime by her choice, no kids, but if full time x2b would earn approx 1k/mnth. House/my pension pot and assets total approx 500k.
Calculator suggests 70/30 split in favour of ex. Is that normal even though i have paid all bills/mortgage etc throughout 19 year marriage ?
It also suggest 2k spousal/childcare maintenance but we have no children
It also suggests 2k spousal maintenance, is that on top of the previous making 4k maintenance ! I'll need to get an extra two jobs !
Simple question but is the maintenance figure, monthly or yearly ?

So using the calculator, i'll be lucky to come away with my pension pot and income of 1.5k after paying maintenance payments.
my x2b will get 5k income(maintenance 2k x two plus 1k own income)and 360k assets.
Surely that can't be correct ! :ohmy:

  • Gilly
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10 Dec 07 #8772 by Gilly
Reply from Gilly
Hi Robin,
If you re-check your results you may have misread some of the answers - clearly you won't be liable for CM - child maintenance - as their are no children. The calculator shows payments from you to her AND from her to you - check the figures and if they are self cancelling. As you've been married 19 yrs the house and all assets incl pensions are marital assets irrespective of who paid for them. Would be well worth seeking independant financial advice from a divorce specialist - calculator is a rough guide tool. All the best..
Gilly

  • DownButNotOut
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10 Dec 07 #8774 by DownButNotOut
Reply from DownButNotOut
Robin,

A few points about the calculator:

1) Income entered should be net monthly income so 5.5k per month net makes you quite a high earner (100K+), with her much lower earner so calc is suggesting that spousal (not child) maintenance could be payable.

2) Maintenance figures given are monthly and you pay one or the other (not both). They are two guesses at the same monthly spousal maintenance liability (one based on income, marriage length and one based also on outgoings data). So for u calc suggest 2k/month SM. Note calc does not attempt to determine for how long this would be payable (couple years? 5 years? life?)

3) 70/30 split in favour of wife does not sound right when u have no kids. I would reckon closer to 50/50 with some SM due also. Or perhaps the 70/30 split for a clean brea&k with no SM due.

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