Breaking up...financial question

pmlindyloo

Here is a good start for all your questions.

https://www.citizensadvice.org.uk/family/relationship-problems/ending-a-marriage/

You could make an appointment with CAB to go through all your options and they will do a benefits check for you. They may also be able to sign post you to a family mediator or a solicitor.

Of course the easiest and cheapest way to sort things out is to first discuss this with your partner. Family mediation is another option which can prove a lot cheaper than a solicitor.

There will be many questions that you want to ask and it is a good idea to have that discussion with your partner first but if this proves impossible then go and get some advice.

jackieblack

first78 wrote: »

It shouldn't matter what the gender of my spouse is...

It doesn't

first78 wrote: »

that is why I use the word partner.

But 'partner' implies 'not married' which can sometime make massive difference


(And I know you stated 18 year marriage in your first post, but then using 'partner' rather than 'spouse' sounds contradictory)

Guest101

janb5 wrote: »

Just wanted to say that my advice would be not to make any decisions in a hurry but to get proper advice..in these case dont listen to your friends break up stories but be dignified and avoid mudslinging.

You can access initial free legal advice for an initial hour which is a good way of checking whether you like the solicitor rather than choosing one at random. Good luck.

TBagpuss wrote: »

take a look at http://www.entitledto.co.uk/benefits-calculator/startcalc.aspx, you can fill in the calculator based on your incom and outgoigns if you remain in the hosue without your spouse, which will let you see what you would be entitled to claim.

Also https://www.gov.uk/calculate-your-child-maintenance/y which will give you a starting point as to what your spouse should pay as a minimum to support the children, if they remain with you.

You may find it helpful to draw up a statemetn of your means and income an outgoings to see where you may be able to reduce outgoigns and what you can afford.

It is scary at first, but you don't ned to do anything in a hurry.

You have a fiarly small mortgage so unless you also have a lot of other debt you are servicing, you should be able to afford it - how much is the current mortgage payment each month? How much are rental propertied in your area?

It is more expensive to be single than half of a couple so both you and your spouse are likely to have to budget and to accept tha you will have to cut your living costs.

However, if you earn £16,000 you presumably take home around £1,150 a month. I think you are likely to be able to claim either Universal Credit or Child & Working Tax Credits, depending on where you live.

Once you and your spouse separate you should be able to claim a 25% council tax deduction as a single adult.

You might find it useful, once you have done a list of your income and outgoigns, to look at the debt free board where people will be able to look at your list and advise about ways you might cut outgoings.

Go to see a solicitor, they will be able to avise you about what your options are.

once you know rogughly what your income will be you can also speak to an independent morgage advisor to see whether you are likely to be ain a psotion toremortage to release your spouse from the mortgage, to stay in the house. The mortgage is not massive in relation to your income, and it may well be possible, some lenders will take into account tax credits and/or child supprot as part of your income for mortgage purposes, and if you are able to get your soouse relased from the mortgage then that benefits you both; with only £9K equity a lot of that would be eaten up in sale and moving costs if you sell up, so it may make sense for you to stay, with the children I've assumed you are curently the main carer as you mentioned you work part time and your spouse works full time) and getting your spouse off the mortgage would make it easier for them to get a new mortgage elsewhere once they are able to save a deposit.

Pollycat wrote: »

This link gives you 2 independent benefit checking websites.
Put your details in and it will give you an idea of what benefits you might be entitled to:

https://www.gov.uk/benefits-calculators

Make an appointment at CAB for advice.

See OP this is why it matters to be accurate. All these posts are incredibly helpful. But it assumes you are going to be caring your the children

jackieblack

Guest101 wrote: »

See OP this is why it matters to be accurate. All these posts are incredibly helpful. But it assumes you are going to be caring your the children

To be fair, (although I know children usually stay with the mother the in the majority of cases) that isn't automatically determined by gender.

Guest101

jackieblack wrote: »

To be fair, (although I know children usually stay with the mother the in the majority of cases) that isn't automatically determined by gender.

No it isn't. I suspect in fact it's the wife that's leaving. But being overly sensitive about gender so as not to give a full picture simply skews the advice given.

jackieblack

Guest101 wrote: »

No it isn't. I suspect in fact it's the wife that's leaving. But being overly sensitive about gender so as not to give a full picture simply skews the advice given.

Agreed ....................

Gloomendoom

They are a same sex couple.

Guest101

Gloomendoom wrote: »

They are a same sex couple.

Oh for goodness sake, hiding genders based on sexuality? I give in.


So do they both have PR?

Gloomendoom

Guest101 wrote: »

Oh for goodness sake, hiding genders based on sexuality? I give in.


So do they both have PR?

Dunno. Not sure how they could have been married 18 years either.

At least, not to each other.

Guest101

Was literally thinking the same thing. Given the first same sex marriage would be coming up to 3 year anniversary.