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  • NigelM
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13 Feb 08 #13772 by NigelM
Topic started by NigelM
Hi all,

I am in the middle of a divorce and have reached the stage where I would like to move on. Part of that is to reach a fair financial settlement.

Things are a bit complicated, but essentially I managed to raise enough cash for my wife to buy a house (outright) so she could move out of the matrimonial home, where I am still living.

The split ended with my wife getting with £113,000 of our joint assets, I ended up with £102,000, and this includes the full transfer value of my pension.

We have one child 16, in full time education living with my wife, and a 19 year old away at university.

I earn £40k year, she earns around £6k.

I am 45 years old, she is 55.

Currently I pay £360 month child maintenance, what should I be paying to my wife as maintenance, and for how long would this last?

Also she took the larger part of our assets, and is looking for a further lump sum payment, will this affect what I pay.

I want to be fair about this, but at the same time I feel my wife should make more effort to support herself. There are opportunities to work full time for instance, but I know this is not something she is willing to take on.

Your advice will be much appreciated
Nigel

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14 Feb 08 #13913 by Fiona
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The problem is your wife has only 7 or 8 years before she reaches state pensionable age so even if she does work full time she is unlikely to re-establish herself financially.

I've just answered another post about spouse maintenance and it's the overall picture that matters. Plans for retirement is one consideration in your case.

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