Spousal maintenace following amicable split of joint assets query

Dollhouse118

Hi everyone, hope you can help me with this question. Myself and my husband are getting divorced amicably and the house and savings account is in joint names and are being split in half.

My question is - will he be liable for spousal support also or does this not apply when the assets are split as technically I can live of the savings but do not have any income (since have been a SAHM since baby was born but have always worked before).

We have one child under 5 and child maintenance will also be paid.

I will be getting a job within the next few months but will have to be part time because of childcare and also may not be as high paying as career gap.

I suppose my point is...does the settlement amount affect whether spousal maintenance should be paid as savings don't last forever!

Husband is fully employed with good job.

Thank you.

Scorpio33

Spousal maintenance is based on income, so the settlement shouldn't affect it. Saying that though, spousal maintenance is usually only for a short period of time to assist you to make the transition. 

In my experience, it is rarely given out, but even if it is, its for a short period of time, so you need to find something that will pay the bills, taking account of child maintenance, the benefits your will get etc as well as child care costs.

TBagpuss

Spousal maintenace is unusual - it's much more common for there to be an unequal split of the capital - the aim is to be fair taking into account things like incme and earning capacity, needs etc - in your situation, and on the basis that itsounds as though you are likely to have lower earning cpacity even when you get a job, then it's likely to be fair for you to have more than half of the capital. 
You also need to think about what will happen in terms of whare you will each live. Are you both likely to be renting or is there enough equity that you could each put down a deposit and buy somewhere samller? IF that's the cae, you might want to conside rwhether delaying selling the house for 18 months or so so you have time to get a job and build up some mortgage capaity would be sensible, to enaure that you can both rehouse. 

It's great tht the split is amicable but on the fae of it it sounds as thoug hthe proposed finacial split isn't likely to befair given the situation, so you may need to rethink that.

IT is possibe to have spousal maintenawe and this could be something the two of you agreed m. Normally, npoawadays, maintenace of this kind would be a short term thing - maybe for a year or two  while you were job hunting nad starting to work again, until your child is in school full time (if they will be living with you as the main carer) 

I would strognyl recommend seeing a solicitor - yothat doesn't have to prevent things being done amicably but it would allow you to get a bit of advice about what might be an appropriate finacial settlement that would be fair to you both. 

You haven't mentioned any pension. Do either of you have a pension? if so, those are assets as well so shouldeither be split or offset (i.e. if your spouse has a pension and you don't, then you ither have a share of that or more of the other assets to make up for not having a share) 

pinkshoes

Dollhouse118 said:

Hi everyone, hope you can help me with this question. Myself and my husband are getting divorced amicably and the house and savings account is in joint names and are being split in half.

My question is - will he be liable for spousal support also or does this not apply when the assets are split as technically I can live of the savings but do not have any income (since have been a SAHM since baby was born but have always worked before).

We have one child under 5 and child maintenance will also be paid.

I will be getting a job within the next few months but will have to be part time because of childcare and also may not be as high paying as career gap.

I suppose my point is...does the settlement amount affect whether spousal maintenance should be paid as savings don't last forever!

Husband is fully employed with good job.

Thank you.

I think you need to rethink this arrangement.

Why are you splitting it 50/50?

If you have given up your career to look after your child, and therefore lowered your earning potential because of this, then you should be given more than half of the assets. This was a decision you made as a couple.

Also, why isn't he working part time because of childcare? Another reason that you should be getting more than 50% if you're needed to work fewer hours to cover child care.

tightauldgit

I'm not sure what you mean exactly by 'liable for' spousal maintenance. 

If you want spousal maintenance you will have to ask for it and see what he says. The final settlement is generally whatever you agree between the two of you. There's no expectation of spousal support or any legal requirement to pay it (unlike child support) 

I'd sit down and consider what you actually need to get yourself established and what your earning potential is before agreeing to any split. 

Spendless

Who has decided assets are being split in half? Usually, the person with lower earning capacity, more childcare responsibilities etc receives a greater share because it takes this sort of things into account. 

Spousal maintenance is rare but occasionally happens if one party is a lot wealthier than the above and is usually just for a set period of time to allow the disadvantaged party to do things like retrain for a higher paying job.   

tacpot12

Don't forget to check if you will be eligible for Universal Credit, or Tax Free Childcare.

You can use the benefit calculator at entitledto.co.uk to check if your part-time work will leave you entitled to claim Universal Credit, which can cover upto 85% of your childcare costs. 

You haven't said where you will be living, but Universal Credit can also help with the cost of renting.  

Information on the Tax Free Childcare scheme is available here: Tax-Free Childcare - GOV.UK (www.gov.uk)

Even if you are entitled to any of this help, you still need to ensure that any amount of spousal maintenance is fair given disparities in your earning potential. 

comeandgo

Have you talked to a solicitor?  You seem to be settling for the lowest denominator here.