Divorce, House and Kids...

steveb1964

My wife and I are in the process of splitting up. We have agreed that she will buy me out of the house and then get a divorce once 2 years have passed.

We do have 2 younger children and I wondered, apart from child maintenance, what financial responsibilities I would have with them.

My wife said when the house is in her name and if she loses her job I will legally have to make sure that my kids can stay in that house. Does anyone know if that is true?

Of course I would do anything for my kids and provide as much support as I can both financially and parenting but I'm worried that once we've transferred the house to her name then she could come back and screw me. I couldn't afford a house of my own and then have to pay for hers for the kids to live in if she lost her job.

NotSuchASmugMarriedNow

have you thought about having shared residence for the children? that way you wouldn't be liable for any child maintenance at all. Why are you waiting for 2 years before you get a divorce? Usually the divorce comes first, then the finances are settled. Unless you make a "clean-break" divorce then either party can come back to the other party for more money at any time, ie, if you've been living apart for 10 years but your ex wins £2 million, you can get half.

you need legal advice before you sign anything over to your wife.

brokenlily

Like Notsuchasmugmarried says, if you get a clean break divorce, then no further claim can be made by your wife after that point.

If she were to lose her job and no longer be able to afford to keep the house, once you have had a clean break settlement you have no obligation to ensure that she can stay in it, though obviously you have your obligations to the kids in the form of maintenance, the amount of that will be dependent on your income, not her situation. She would have no legal claim on you to finance her staying in the house once it is in her name and a clean break divorce settlement is final.

However, the waters are murkier on that front while you are separated, and my advice would be not to allow her to buy you out without seeking legal advice as to what your obligations might be if she could not continue to pay the mortgage for any reason in the period leading up to any divorce settlement being made.

brokenlily

Also, I'm not sure it is quite correct to say that if you have shared residence of the children that no maintenance is payable - the CSA don't actually recognise shared residence and they will take the parent in receipt of the Child Benefit to be the resident parent, even if your time split with the children is 50/50, so if your wife goes to the CSA and she gets the child benefit, they may well award her maintenance even if you technically have equally shared care.

NotSuchASmugMarriedNow

brokenlily wrote: »

Also, I'm not sure it is quite correct to say that if you have shared residence of the children that no maintenance is payable - the CSA don't actually recognise shared residence and they will take the parent in receipt of the Child Benefit to be the resident parent, even if your time split with the children is 50/50, so if your wife goes to the CSA and she gets the child benefit, they may well award her maintenance even if you technically have equally shared care.

But doesn't that work both ways? If the wife can go to the CSA when they have shared residence then so can the husband surely.

Personally, I am in favour of shared residences in divorce cases, provided there is no history of domestic abuse. It is also becoming more common and courts are increasingly likely to grant shared residence these days unless one parent objects AND provides a very good reason why it shouldn't be granted.

Think about it, OP, it could work well for everyone.

Ravenlady_2

its all down to who claims the child benefit, unless you claim for 1 each.

brokenlily

Ravenlady wrote: »

its all down to who claims the child benefit, unless you claim for 1 each.

Tis true, when it comes to the CSA, they look at who claims the child benefit. If you claim for one each, then there would be no maintenance payable on either side.

And to notsuchasmugmarried, I could not agree with you more wholeheartedly that shared residence and 50/50 care along with amicable co-parenting is the best thing for the kids.

steveb1964

brokenlily wrote: »

If she were to lose her job and no longer be able to afford to keep the house, once you have had a clean break settlement you have no obligation to ensure that she can stay in it, though obviously you have your obligations to the kids in the form of maintenance, the amount of that will be dependent on your income, not her situation. She would have no legal claim on you to finance her staying in the house once it is in her name and a clean break divorce settlement is final.

That is what I was hoping for! Obviously I would give my children the best possible upbringing but I didn't want to be held liable for the house if my wife/ex were no longer able to afford it as if I went and bought my own then there's no way I could run 2 houses. I guess she's just trying to threaten me so I don't leave but after she's had affair after affair I've had enough!!

steveb1964

brokenlily wrote: »

Also, I'm not sure it is quite correct to say that if you have shared residence of the children that no maintenance is payable - the CSA don't actually recognise shared residence and they will take the parent in receipt of the Child Benefit to be the resident parent, even if your time split with the children is 50/50, so if your wife goes to the CSA and she gets the child benefit, they may well award her maintenance even if you technically have equally shared care.

I think I would have to be the main place of residence for my kids not to have to pay maintenance.

It goes off how much you earn and how many nights of the year you have them. The more you have them the less you pay which is fair enough.

Thanks all for the advice, I'm off for some proper legal advice after xmas but this info has been very useful.

Gigglepig

Please don't make the residency decision for the kids based on the maintenance payment --- try to come to an arrangement for what is best for the kids. Some find split residency arrangements very stressful.

silvercar

My wife said when the house is in her name and if she loses her job I will legally have to make sure that my kids can stay in that house. Does anyone know if that is true?

If the house and mortgage are in her name then she would be the only one legally responsible for paying them.

Often the wife does not have sufficinet income on their own to justify the current mortgage and the lender refuses to remove the husband's name from the mortgage. The legal settlement may transfer the house deeds to the wife, but if the lender refuses to remove the husband's name from the mortgage then the husband is still liable for that mortgage. 2 big impacts:

1. if the wife falls behind with the mortgage the lender can chase the husband and can put big black marks on the husband's credit rating
2. Being responsible for this mortgage can impact on the husband's ability to get a mortgage should he want to buy a place of his own.