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    • motor bike
    • By motor bike 17th Jul 17, 12:16 PM
    • 49Posts
    • 5Thanks
    motor bike
    advice for divorce/settlement
    • #1
    • 17th Jul 17, 12:16 PM
    advice for divorce/settlement 17th Jul 17 at 12:16 PM
    hi,

    need a bit of advice for a freind of mine who is about to go through with a divorce.

    here are the basic details of whats happend so far..

    husband walked out just over a year ago without warning and gave no real reason. up until then it was all happy families. later found out to have comited adultry.

    they have two children , one whos left home and another who is 18 years old and still at home in full time education and will be for the next couple of years.

    husband has a good job with a good salery ( 4k pm)
    wife gave up a good job to raise the family and support husband with his job as he climbed the ranks to management, when kids were old enough the wife got various jobs and fitted that in with bringing up the kids.

    they have a joint mortgage with about 150k outsanding on a 250k home .

    husband has got two very good pensions and the 4k pm salery
    wife earns 1.500 k pm.

    my freind the wife wants to know what the potential or posible out come will be regaurding the final settlement agreement .

    she has asked him for a divorce and is still in the family home.
    no responce as yet .
    husband dosnt want any contact at all with the wife or the kids.

    husband is how ever paying the mortgage still and the current deal ends in october and i think he is dragging his heels until then . thinking he can come off the mortgage easier ?? .

    like i say these are the basic details and probably a common divorce situation. any help or advice would be greatfull . thanks
Page 1
    • PeacefulWaters
    • By PeacefulWaters 17th Jul 17, 12:29 PM
    • 6,709 Posts
    • 8,249 Thanks
    PeacefulWaters
    • #2
    • 17th Jul 17, 12:29 PM
    • #2
    • 17th Jul 17, 12:29 PM
    Half the value of the house equity.

    Half the value of the pensions.

    Half the value of the savings.

    Half the value of any other debts.

    Seem like a reasonable starting point?
    • davidwood123
    • By davidwood123 17th Jul 17, 12:36 PM
    • 446 Posts
    • 1,092 Thanks
    davidwood123
    • #3
    • 17th Jul 17, 12:36 PM
    • #3
    • 17th Jul 17, 12:36 PM
    The house should be sold and the equity split

    ( Her son is a grown adult so no need for that family home excuse)

    Half the value of any savings (if any)

    If no savings they both are responsible for half of any debts.

    Half the value of the pensions.
    • motor bike
    • By motor bike 17th Jul 17, 12:43 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    • #4
    • 17th Jul 17, 12:43 PM
    • #4
    • 17th Jul 17, 12:43 PM
    thanks so far for the info.

    house is going on the market next week , been valued this weekend just gone .

    as far as i know the wife has no savings and very little joint debt.
    husband has a fare bit of debt , his own doing.

    can restrictions be put on the husbands pension i.e if wife were to get re married or a new partner then no claim to pension ?ect.

    thanks again.
    • motor bike
    • By motor bike 17th Jul 17, 2:02 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    • #5
    • 17th Jul 17, 2:02 PM
    • #5
    • 17th Jul 17, 2:02 PM
    sounds to me like the wife made some sacrifices to support the husband with his job , old fashiond male bread winner and wife looks after kids and home etc but now she is left without a pot to you know what in after all those years of support to the huband ect.

    she is very worried about her future and selling her home of 20 odd years due to no fault of her own . she is going to seek legal advice but just wanted a heads up of what to expect. she is not a gold digger and justs wants to get it sorted with the minimum of fuss and of course costs as she is struggling now with money and obviously getting a new home and a mortgage or renting is probably going to very dificult , i doubt she will be alble to find a house or a mortgage in the area where she lives and works .

    there may be more to this but i think the basic info is the top and bottom of this . any more info would be gratefull i dont want to see her get ripped off but you have to be a realist i suppose. anyway thanks again and i will pass on whats been said
    • Fosterdog
    • By Fosterdog 17th Jul 17, 2:34 PM
    • 3,055 Posts
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    Fosterdog
    • #6
    • 17th Jul 17, 2:34 PM
    • #6
    • 17th Jul 17, 2:34 PM
    How old is she? Depending on age, so also mortgage term she may well be able to buy him out and keep the house, especially if she forfeits any part of his pensions in return for a bigger share in the equity in the house. As it stands (not taking into account fees, taxes etc.) they each have £50,000 equity in the house, if she used her share as the deposit she would need a mortgage for £200000 which is pushing it a bit on her income. However if she could cut that down it may be affordable. If the house is big enough she could also consider a lodger.
    • motor bike
    • By motor bike 17th Jul 17, 2:47 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    • #7
    • 17th Jul 17, 2:47 PM
    • #7
    • 17th Jul 17, 2:47 PM
    How old is she? Depending on age, so also mortgage term she may well be able to buy him out and keep the house, especially if she forfeits any part of his pensions in return for a bigger share in the equity in the house. As it stands (not taking into account fees, taxes etc.) they each have £50,000 equity in the house, if she used her share as the deposit she would need a mortgage for £200000 which is pushing it a bit on her income. However if she could cut that down it may be affordable. If the house is big enough she could also consider a lodger.
    Originally posted by Fosterdog
    she is 48 years old, and i doubt very much she will get a 200K mortgage due to salery and general living costs ect, also remember she has her 18year old daughter still at home for at least the next 2 years she is in full time education. i dont think a lodger is a good idea as its not a garenteed income . i know its a tough one but its a not an unusuall situation . she is already living on a very tight budget not spending on anything apart from daily living so i too think its going to be very tough
    • BJV
    • By BJV 17th Jul 17, 2:56 PM
    • 2,233 Posts
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    BJV
    • #8
    • 17th Jul 17, 2:56 PM
    • #8
    • 17th Jul 17, 2:56 PM
    Hi no real advice except to say so sorry for your friend. I would be devastated if that was me. Hope she can sort it out and start again.
    Happiness, Health and Wealth in that order please!
    • TBagpuss
    • By TBagpuss 17th Jul 17, 2:58 PM
    • 5,776 Posts
    • 7,548 Thanks
    TBagpuss
    • #9
    • 17th Jul 17, 2:58 PM
    • #9
    • 17th Jul 17, 2:58 PM
    The overriding aim is to come up with a settlement fair to both parties, taking into account their needs, financial resources (income and earning capacity etc)

    It's usual to start at 50/50 and the make whatever adjustment is necessary to ensure that the outcome is fair.

    Given the ages of the children,both parties will have broadly similar needs (somewhere to live, suitable for them and for children to visit) and it's reasonable to assume that both will work full time (not clear if W currently works full time or not)

    However, as she has a lower income and presumably couldn't walk into a £70K p.a job to match H's pay,(or even a £50K one, if the £4K is gross) W's needs will be greater - she will have a much lower mortgage capacity, less disposable income to build savings etc, so assuming other things are broadly equal, it's likely that she would be entitled to a higher share of the assets.

    She/they will need to look at what the costs of buying a property are, what mortgage capacity each has and so on.

    It may well be that it would be reasonable for W to have 60-70% of the available assets, although things such as both parties ages will also be relevant.

    It would be possible for W to ask for spousal maintenance but it is much more common to try to have a clean break, rather than ongoing maintenance

    If the 18 year old is in secondary level education then it may be reasonable to delay sale of the house until they have completed that. If they are at University but living at home then it is less likely to be reasonable.
    • davidwood123
    • By davidwood123 17th Jul 17, 4:00 PM
    • 446 Posts
    • 1,092 Thanks
    davidwood123
    The overriding aim is to come up with a settlement fair to both parties, taking into account their needs, financial resources (income and earning capacity etc)

    It's usual to start at 50/50 and the make whatever adjustment is necessary to ensure that the outcome is fair.

    Given the ages of the children,both parties will have broadly similar needs (somewhere to live, suitable for them and for children to visit) and it's reasonable to assume that both will work full time (not clear if W currently works full time or not)

    However, as she has a lower income and presumably couldn't walk into a £70K p.a job to match H's pay,(or even a £50K one, if the £4K is gross) W's needs will be greater - she will have a much lower mortgage capacity, less disposable income to build savings etc, so assuming other things are broadly equal, it's likely that she would be entitled to a higher share of the assets.

    She/they will need to look at what the costs of buying a property are, what mortgage capacity each has and so on.

    It may well be that it would be reasonable for W to have 60-70% of the available assets, although things such as both parties ages will also be relevant.

    It would be possible for W to ask for spousal maintenance but it is much more common to try to have a clean break, rather than ongoing maintenance

    If the 18 year old is in secondary level education then it may be reasonable to delay sale of the house until they have completed that. If they are at University but living at home then it is less likely to be reasonable.
    Originally posted by TBagpuss
    If an 18 year old adult can't deal with a house move when their exams (or course depending on what year) haven't even started they are going to struggle when they get slapped by the reality of real life.
    • motor bike
    • By motor bike 17th Jul 17, 4:15 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    If an 18 year old adult can't deal with a house move when their exams (or course depending on what year) haven't even started they are going to struggle when they get slapped by the reality of real life.
    Originally posted by davidwood123



    the ability of the my freinds daughter is not in question here, the final settlement agreement is the question i asked . i just gave the current details of the situiation. thanks
    • motor bike
    • By motor bike 17th Jul 17, 4:25 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    The overriding aim is to come up with a settlement fair to both parties, taking into account their needs, financial resources (income and earning capacity etc)

    It's usual to start at 50/50 and the make whatever adjustment is necessary to ensure that the outcome is fair.

    Given the ages of the children,both parties will have broadly similar needs (somewhere to live, suitable for them and for children to visit) and it's reasonable to assume that both will work full time (not clear if W currently works full time or not)

    However, as she has a lower income and presumably couldn't walk into a £70K p.a job to match H's pay,(or even a £50K one, if the £4K is gross) W's needs will be greater - she will have a much lower mortgage capacity, less disposable income to build savings etc, so assuming other things are broadly equal, it's likely that she would be entitled to a higher share of the assets.

    She/they will need to look at what the costs of buying a property are, what mortgage capacity each has and so on.

    It may well be that it would be reasonable for W to have 60-70% of the available assets, although things such as both parties ages will also be relevant.

    It would be possible for W to ask for spousal maintenance but it is much more common to try to have a clean break, rather than ongoing maintenance

    If the 18 year old is in secondary level education then it may be reasonable to delay sale of the house until they have completed that. If they are at University but living at home then it is less likely to be reasonable.
    Originally posted by TBagpuss

    hi and thanks for the advice,

    the wife works full time and the daughter is at college full time for the next couple of years.
    the husband wants no contact with the kids anymore for whatever reason and they are devistated , prior to this they got on great more like mates the son and dad, did evering together footy gigs you name it . so i geuss needing a suitable place for them to stay isnt in the hat.

    she has offered to arrange a mediation session for them both to sort out differences and kids ect but hes not interested.

    anyway back to the coalface . wife has been looking at the cost of simular houses in or near to the area also cost of renting and will be also seing how much she can borrow. either way its not good .

    thanks again
    • Jamiehelsinki
    • By Jamiehelsinki 17th Jul 17, 4:30 PM
    • 85 Posts
    • 123 Thanks
    Jamiehelsinki
    I've not long gone through a divorce and the starting point for a split of assets would be 50/50.

    Debts are taken into account so this would generally be deducted from the total before deciding the split.

    Spousal maintenance is rare although the wife may get a slightly bigger share of the assets to compensate for lost earnings but from another point of view she's also entitled to 50% of a pension/s at the point of divorce from someone who earns a lot more than her.

    If the wife hadn't given up work would she realistically be earning 4k per month now?
    • motor bike
    • By motor bike 17th Jul 17, 4:32 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    just to be clear,

    wife is not gold digging or using her daughter at home as leverage. she never even mentioned it to me. it was be who gave the details of the situation just aid the advice thats been given.

    main thing is they are frightend for their future and want to see some hope . as i cant do anything im not a legal eagle or have been divorced

    so please stick to the origional questions asked . thanks
    • motor bike
    • By motor bike 17th Jul 17, 4:42 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    I've not long gone through a divorce and the starting point for a split of assets would be 50/50.

    Debts are taken into account so this would generally be deducted from the total before deciding the split.

    Spousal maintenance is rare although the wife may get a slightly bigger share of the assets to compensate for lost earnings but from another point of view she's also entitled to 50% of a pension/s at the point of divorce from someone who earns a lot more than her.

    If the wife hadn't given up work would she realistically be earning 4k per month now?
    Originally posted by Jamiehelsinki
    thanks for the first hand info , at least i can tell my freind what to expect as a ball park outcome . i know everyones situation is different . thanks again
    • comeandgo
    • By comeandgo 17th Jul 17, 4:43 PM
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    comeandgo
    Has she any idea of the value of the pensions? They could be worth quite a bit. If they are final salary pensions make sure they are valued correctly. My husbands exs solicitor got his valued at a ridiculously low value. His ex wife had never worked, lazy person, she did get maintenance of £200 a month until my husband was 65 but she got it as a lump sum.
    Your friend is still young, she still has a very good life ahead of her.
    • motor bike
    • By motor bike 17th Jul 17, 4:49 PM
    • 49 Posts
    • 5 Thanks
    motor bike
    Has she any idea of the value of the pensions? They could be worth quite a bit. If they are final salary pensions make sure they are valued correctly. My husbands exs solicitor got his valued at a ridiculously low value. His ex wife had never worked, lazy person, she did get maintenance of £200 a month until my husband was 65 but she got it as a lump sum.
    Your friend is still young, she still has a very good life ahead of her.
    Originally posted by comeandgo

    hi ,

    yes , she dose know the value of the pensions i think but i will pass on what you have said , again top advice and thanks
    • FBaby
    • By FBaby 17th Jul 17, 4:59 PM
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    • 39,329 Thanks
    FBaby
    sounds to me like the wife made some sacrifices to support the husband with his job , old fashiond male bread winner and wife looks after kids and home etc but now she is left without a pot to you know what in after all those years of support to the huband ect.
    That's the same old chestnut, the poor wife who was forced to give up what would have been a smashing career for her husband because he insisted that she stayed at home to look after the children against her will...

    Maybe the case if we are talking about someone who graduated with a medicine or law degree, and the husband job meant that they moved every few years, but otherwise, I think it has very much become an excuse for wives who never really started a career and were happy to be SAHM or working PT.

    Is she likely to get 50% of everything yes? Is the issue that wants more?
    • motor bike
    • By motor bike 17th Jul 17, 5:16 PM
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    motor bike
    That's the same old chestnut, the poor wife who was forced to give up what would have been a smashing career for her husband because he insisted that she stayed at home to look after the children against her will...

    Maybe the case if we are talking about someone who graduated with a medicine or law degree, and the husband job meant that they moved every few years, but otherwise, I think it has very much become an excuse for wives who never really started a career and were happy to be SAHM or working PT.

    Is she likely to get 50% of everything yes? Is the issue that wants more?
    Originally posted by FBaby
    hi and thanks,

    as ive stated severall time now,

    its not a money thing i was asking about ,nore is she a gold digger . the question was regaurding what to expect as an outcome or possible outcomes of the final settlement agreement as i geuss this is where this case is heading and thats it . i gave the details as i see them and how the family or husband and wife did things . for all i know she could of been a rocket scientist but we will never know that , what we do know is the current facts as ive stated.i saw it as an old fashioned wife at home taking care of family whilst hubby is out working , just my perseption and my words.

    put it this way if you wer !!!! upon in a big way would take it on the chin ??? or would you stand up for yourself ?? . if you cant stand up for yourself you seek advice wouldnt you?? well this is all im doing seeking constructive advice for a freind who is still reeling from the end of the relationship.i have advised seeking legal help which she of course is doing its nice to have a heads up and no nasty supprises. i havent taken sides in this and havent slated either party concerned . i am very gratefull for all the advice aswell but sometimes people just dive straight in lol. thanks again
    • FBaby
    • By FBaby 17th Jul 17, 7:02 PM
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    FBaby
    As said, she can pretty much bank on 50%, what she needs to decide is whether she thinks she should be entitled to more, and what argument she plans on putting forward to justify it.

    At 48, it's not too late to look for promotions.
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