what is the % who gets what?

Options
Grace12
Grace12 Posts: 4 Newbie
First Post First Anniversary
in Marriage, relationships & families
Hope you can help as going through a really bad time.
Have run a business shop/post office partnership with my husband for 8 years up for sale and going through. Now it hasn't worked out so getting the dreaded divorce. We have 2 children under 16, i am going to have no job as selling it and responsible as a contract with post office so cant do anything until its sold.
Have no home to go to although I could crash at my mums with kids for a bit but to be honest not really practical there is not enough room and I will have to sleep on the couch.
He has dictated 60% to me and 40% for him.
He has already seen another business which he is going to buy lease hold for 10 years a 3 bed with shop. I have an appointment to see my solicitor on Monday about this but need to find out as much info as I can as the sale is processing and looking at end of February. Please Give any advice as very scared as he is dictating and I dont want to spend t£1000 on court.
I wont have enough to buy a house and cant rent as no job
Please help any advice would be great

Comments

  • kingfisherblue
    kingfisherblue Posts: 9,203 Forumite
    Name Dropper First Anniversary First Post Xmas Saver!
    Options
    I doubt if anyone here can tell you what percentage you are going to get, or are entitled to. When a marriage breaks down, everything that is owned - both businesses, any pensions, savings, house, cars, etc all go into the pot. So do any debts.

    If your husband manages to retain the whole of the other business, it may be that you receive a greater proportion from the sale of this business, but only a solicitor can advise. A lot may depend on how the other business is set up (is it jointly owned with a third party, for example?).

    Gather together all of the information that you can and ask your solicitor for help. That's what you are paying them for.
  • DUTR
    DUTR Posts: 12,958 Forumite
    First Anniversary Name Dropper First Post
    Options
    No one can predict what the courts may decide, although you say you do not wish to spend £1000 it may 'cost' you more not to spend.
    You have to remember things like law are set on logic not emotion and hearsay.
    I wouldn't imagine a divorce will occur overnight and is an episode that may well drag on for some time come, especially as there is property assets and children to consider.
  • Ames
    Ames Posts: 18,459 Forumite
    Options
    kingfisherblue wrote: »
    I doubt if anyone here can tell you what percentage you are going to get, or are entitled to. When a marriage breaks down, everything that is owned - both businesses, any pensions, savings, house, cars, etc all go into the pot. So do any debts.

    If your husband manages to retain the whole of the other business, it may be that you receive a greater proportion from the sale of this business, but only a solicitor can advise. A lot may depend on how the other business is set up (is it jointly owned with a third party, for example?).

    Gather together all of the information that you can and ask your solicitor for help. That's what you are paying them for.

    I read it that when the PO business is sold he plans to give the OP 40% and use 'his' 60%to buy the new business.

    The OP wants to find a way of stopping this until the legal financial order is made.
    Unless I say otherwise 'you' means the general you not you specifically.
  • PrettyKittyKat
    PrettyKittyKat Posts: 1,270 Forumite
    Options
    I read it as OP is getting 60% and husband 40%. If he can find a new business with 40% what is stopping you finding one with your larger proportion?

    Are there any other assets / debts that need considering?

    Have you agreed on a child maintenance amount?

    If you get a lump sum from the business wouldn't this be enough for you to pay a few months rent upfront to give yoy time to sorr out benefits and a job?
  • kingfisherblue
    kingfisherblue Posts: 9,203 Forumite
    Name Dropper First Anniversary First Post Xmas Saver!
    Options
    PrettyKittyKat wrote: »
    I read it as OP is getting 60% and husband 40%. If he can find a new business with 40% what is stopping you finding one with your larger proportion?

    Are there any other assets / debts that need considering?

    Have you agreed on a child maintenance amount?

    If you get a lump sum from the business wouldn't this be enough for you to pay a few months rent upfront to give yoy time to sorr out benefits and a job?

    My apologies - I missed the word 'seen' :o. That should teach me to read things properly!
  • Ames
    Ames Posts: 18,459 Forumite
    Options
    PrettyKittyKat wrote: »
    I read it as OP is getting 60% and husband 40%. If he can find a new business with 40% what is stopping you finding one with your larger proportion?

    Are there any other assets / debts that need considering?

    Have you agreed on a child maintenance amount?

    If you get a lump sum from the business wouldn't this be enough for you to pay a few months rent upfront to give yoy time to sorr out benefits and a job?

    Oops you're right I got the percentages the wrong way round.
    Unless I say otherwise 'you' means the general you not you specifically.
  • Marvel1
    Marvel1 Posts: 7,181 Forumite
    Name Dropper First Post First Anniversary
    Options
    Ames wrote: »
    I read it that when the PO business is sold he plans to give the OP 40% and use 'his' 60%to buy the new business.

    The OP wants to find a way of stopping this until the legal financial order is made.
    Ames wrote: »
    Oops you're right I got the percentages the wrong way round.

    However I do agree and hope the husband does seek advice before processing this to ensure he is not getting the worse end of it.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.5K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.7K Work, Benefits & Business
  • 608.6K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards