Separation / Divorce

dontknowwhattodonext

Have been Married for 24 years with no children and live in a 3 bed rented home both names on contract.  I am 50, wife is 57.   I work full time and wife does not work, her choice and does not claim any benefits, so all bills paid by myself, salary of 46k

We are discussing Separation /Divorce, we have not been shariing a bedrooom or bathroom for months, at the moment we are living as separately as possible in the same property, whilst I appreciate I would need to help her, would it be 50/50 of my future wages for a period of x time? I realise savings & assets would be split and possibly my company pension, just trying to get an idea of how long I would need to support her and what we to do next

Is it realistic to stay in the same propety, or should I move out into a spare room, which I could only just afford due to having to pay for everything at the current property

Comms69

Uhm no. She'd be entitled to very little of your wages. The default position is 0%. Sometimes courts order a small payment for a training period of 12 months. 

There's no reason for you to move out. 

Presumably children are all adults now? 

dontknowwhattodonext

We never had any children.

Comms69

dontknowwhattodonext said:

We never had any children.

Sorry misread. Yes you wont be paying very much at all. I'd safely say 0% ongoing. 50/50 split of assets. 

dontknowwhattodonext

Thanks, at the moment we only have 1 car which is in the wife's name, again I pay for tax, insurance and fuel.  I cycle to work and borrow the car sometimes, I feal I need to get my own car, would it best to use money from savings to purchase, which is in my name only, or finance and not touch the saviings, we have no joint bank accounts.  I also give her x amount per month to cover her mobile bill and other spend. 

Regarding assests, how does this work?

Comms69

dontknowwhattodonext said:

Thanks, at the moment we only have 1 car which is in the wife's name, again I pay for tax, insurance and fuel.  I cycle to work and borrow the car sometimes, I feal I need to get my own car, would it best to use money from savings to purchase, which is in my name only, or finance and not touch the saviings, we have no joint bank accounts.  I also give x amount per month to cover her mobile bill and other spend. 

Regarding assests, would this include high value jewelllery?

The name on the V5 is not the name of the owner. Whoever paid for it, owns it.

All assets are taken into account (except personal assets such as engagement / wedding rings ) - jewelry is worth very little though - 15-20% of retails value at best.

dontknowwhattodonext

I really could not remember whom paid for car, i believe myself but could not prove it.  Wiife was working at the time of purchase.   It is more a case of, car is not worth much, so ideally get one for myself and wife has current car.

Savvy_Sue

What is her expectation, and is it reasonable? Is she expecting to have the same standard of living, the same income from you, without working herself? 

I'd hope to encourage her to be independent ... ie get a job!

dontknowwhattodonext

She has said she wiill reasonable, but when I stop transferriing her money, who knows,  Yes I need to push her to get a job

Comms69

dontknowwhattodonext said:

She has said she wiill reasonable, but when I stop transferriing her money, who knows,  Yes I need to push her to get a job

No, hunger will do that.

Markneath

Buy the car from cash before you split don't get it on finance. They will just look at it you both have similar cars while any cash would be split, same goes for any furniture you buy.
Divorce is tough and can turn nasty very quickly but looking back it was the best decision I ever made, only now I see how unhappy I was for a long time.
Good luck.