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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Advice on what courts what require me to pay

  • borboski
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10 May 12 #329612 by borboski
Topic started by borboski
Hi here,

We''re approaching actual divorce and I''m really not sure what I''m required to pay. I''m starting to feel that my ex is being unreasonable.

We are married for 4 years, and have a 3 year old little girl who lives with my ex, and I have her about 1 night a week. We own a big 3 bed house together with a high mortgage. Ex is resolute that she will do whatever it takes to keep the house. I''ve been keen to prioritise that too; originally paying her over half my salary which resulted in debt. I have more recently reduced to a more sensible amount.

She works about 16 hours a week bringing in approx £1000.

Net earnings (brackets show the amount after "maintenance")
Me 2300 (1530)

Ex 1000 (1770)

Currently I give her 770 a month. I''m not sure what benefits she accesses.

OutgoingsMe About 450 now, living with a friend, but within two months planning to rent a two bed. I suspect this will be at least 550 which plus bills would be about 800.

I have £6k debt, of which I clear £200 a month.

Ex
Mortgage is 900, bills about another 300 I suspect so 1200.

Questions
So - I need to find a 2-bed flat where my daughter can have a ''second home''. I''m also coming to terms with not being happy to pay half the mortgage if I''m never going to see anything from it. The house is worth about £230k and our equity is at best about £20k. We estimated that at 770 I''m paying 15% of my salary (e.g. the CSA amount) plus an extra £450 for half the mortgage).

I''m trying to propose that I could give her £500 a month, essentially indefinitely. I would sign over the house to her and suggest I retain whatever small % I own right now in the event of sale. I''d also be happy for her to obtain a percentage of my pension given she''s reduced her hours while our daughter is before school age.

In response my ex seems to be saying that she would expect 15% CSA plus a high spousal maintenance amount. In addition to fully owning the house.

Can anyone advise on what the courts would be likely to suggest? The problem here is that when we bought the house we borrowed heavily and it is simpy a very expensive house to live in - probably £1200+ a month. If I had stayed in the house I Would be renting out both rooms; I have suggested she get a lodger.

So - I''ve spoken to her and told her that in approx 2 months I plan to reduce my monthly payments to £500. Am I ok to go ahead and do this?

Thanks

  • MrsMathsisfun
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12 May 12 #330171 by MrsMathsisfun
Reply from MrsMathsisfun
As you have a child together you have to pay 15% of net income as child maintenance.

If you ex is working 16 hrs a week she will be entitled to Tax credits which would increase her income and make the difference between your incomes very small, so I doubt you would be expected to pay much if any spousal maintenance.

A court would look at the needs of each party. Your housing needs would be the same eg 2 bedhouse so a court might say that your stbx is over housed.

As there is very little equity in the house providing your stbx can afford to maintain the house then this might be a situation needing a mesher order whereby your stbx remains in the home until certain triggers and then you would receive a fixed % (in most case you would between 30/40%) of the equity.

I would suggest that you only pay child maintenance and if you can afford to a contribution towards the cost of the mortgage.

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