A helping hand

Hi, I''m new to all this and in turmoil at my very near future separation.

I wish to leave the marital home and start afresh with my two teenage boys. My husband wants to buy me out and I''ll have a little sum (half of the equity) to put down on a new house.

My wages will only just allow me a very small mortgage. As I''m working and putting money down on a house, would I be entitled to an extra help other than that from my ex partner? Is there still family tax credit for single mums?

If anyone is in a similar position and needs to talk, I''d be glad to have advice and support at this awful time.

The usual legal advice is not to leave the family home until arrangements for finances and children are in place. It is possible to agree arrangements between yourselves. I would suggest seeing a solicitor early on to find out where you stand and what options there are so you can negotiate from an informed position.

Any assets(including pensions) held in sole and joint names form the matrimonial pot which is shared according to a list of factors set out in s25 Matrimonial Causes Act 1973. There is no law that assets are split 50:50, or at least it is an oversimplification of the law. Dependent children under 18 are the priority and in practice usually the needs of the spouses, in particular for housing, comes at the top or near the top of the checklist.

A good starting point is to check what state help you might be entitled to at www.entitedto.co.uk or whatever site that links up to these days. Then it is a case of researching local property prices and both parties mortgage raising capabilities.

If the children are to live with for the majority of the time you will need a more substantial house than your ex to house them and if you earn less than your ex you won''t be able to raise the same amount of mortgage and you would which may justify a larger share of assets in your favour. The aim isn''t a mathematical 50:50 split but to leave both parties on a similar footing.

When the former matrimonial home is bigger than required it may need to be sold to release equity so everyone can rehouse. On the other hand, if it isn''t larger than required and you can afford to pay the mortgage your husband may need to wait until the youngest child reaches 18 before he can be released from the mortgage or receive his share of the equity.