Advice please before seeing a Solicitor

Hi, I hope you can help.

I''ve been very stupid in not taking Wiki advice because I trusted my husband implicitly. Now I''m having second thoughts. All our financial paperwork has gone, mainly his tax stuff, insurances, pensions, that kind of thing. I only have a vague idea about his pensions.

As well as this, my husband has always been paid one single monthly amount into our joint bank account. This one amount was part dividend and part salary. As a director in the company his salary is around £700 and the rest is his dividend.

I''ve noticed today that since we separated the transaction(s) into our joint account has changed. He is now paid one amount for his dividends and one amount for his salary. Each transaction quite clearly states ''dividend'' or ''salary''.

Is this a coincidence or should I be worried?

I am in the process of getting a free half hour legal advice session so I need to get my specific questions in order before I go. I''m having panic attacks about this. I''m not even sure what I can claim and/or if I have a claim on his earnings. Both our children are over 18, I''m not working and living in rented accommodation. I have a feeling he is gearing up for a divorce and settlement.

Any advice would be appreciated.

Many thanks

Try not to panic. He will need to supply details of income, savings and pensions etc. when it comes to doing financial disclosure. If there is anything fresh in your mind (like names of pension schemes etc.) then write it down so that you can challenge him if there is no mention of them at the point of disclosure.

The salary/dividend thing may just be an accounting formality that he''s been advised to do - it''s still earnings at the end of the day. My ex tried to do the same with paying himself dividends - it''s funny the tricks they''ll try but there will be a trail of some sort to all the income and outgoings.

I''m not sure from your comments if you''re still living together?

What you need to do at this stage is

First of all, it''s a good idea to read an article I wrote and which some people have found helpful. It''s called What to do in the early stages of a divorce and you can find it in the wiki library.

I''ll send you a one liner with details as to how to access it.

Sooner or later you will have to prepare a detailed list of your income and outgoings on what is called a form E. Your husband will have to do the same.

At this stage I''d suggest you get the information which relates to yourself and your needs and resources.

The problem you have is that your husband may, to some extent, be able to control his own income, if he'' s the sort of person who can decide how much he will take out of the business by way of salary.
The temptation of course is to keep his drawings as low as possible.

But I fear you may need someone called a forensic accountant. But that''s for later.

LMM

And remember that judges and the courts are used to seeing a sudden change in pattern of income. If it''s his own Company then he''ll need to supply accounts which will show any sudden changes. There is also the value of the business to be considered. You might have compromised your own career development in order to support him in building up the business, for instance.

If you click on TOOLS then resource Library then Legal costs then
you will find an article called SAVING LEGAL COSTS which you might care to have a read.

LMM

Hi Devon Belle

We have so much in common! Sorry I have no advice to give but just to let you know.

My hubby is also a Director in a business and I have no idea regarding paperwork or what I am entitled to or what to ask... It makes the water so much muddier dosent it...

Please let me know how you get on; as I think I am going to need as much info as I can gleam....

Take care of you

Thank you LMM. Lots of night time reading for when the nights are long.

Thank you Action. We are no longer living together. I just feel that four months down the line he must now be thinking of divorce and settlement sadly. I hope I''m wrong. As I''m living in rented accommodation, have no job at the moment and know nothing about by entitlements, I''ve started to panic.

Hi NAF.. I''ll keep you posted x