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familylawexpert
familylawexpert, Family Solicitor
Category: Family Law
Satisfied Customers: 311
Experience:  Substantial experience (14yrs +) in divorce, financial cases, cohabitation, pre-nuptial agreements and civil partnerships.
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My wife and I seperated 41/2years ago. She took our 2 children

Resolved Question:

My wife and I seperated 41/2years ago. She took our 2 children (now 10 &13) we are amicable and I see my children frequently. I would however like to know where I stand financially if things turned sour. I earn £60000 my home is valued £140000 and the mortgage is £86000. I have no savings
Submitted: 3 years ago.
Category: Family Law
Expert:  familylawexpert replied 3 years ago.
Hello,

My name is Mac. I can help you with your question. First I need a bit more information:

• when did you marry?
• if earlier than the above, when did you start living together?
• what is the value of her house (and any mortgage) - if she now owns one?
• does she own any other assets or have any savings of her own?
• what is her income (after tax)?
• how often do the children stay overnight with you?

Regards,
Mac
Customer: replied 3 years ago.
Married in May 1998. She is living in a rented house and has no savings or assets. I do not know her income she is on benefits. Children stay with me about once a week.
Expert:  familylawexpert replied 3 years ago.
Thanks for the extra information.

If there was to be a divorce and your wife pursued her financial claims, she would be entitled to at least 50% of the capital - ie one half of the equity in your house. She is entitled to this, under the law, by virtue of the length of your marriage. The children also live with her.

In terms of maintenance, you may already know that you are likely to have to pay around £146/week for child maintenance. It is possible that you might also have to pay some spousal maintenance, but that would depend on your wife's ability to earn as well. It might amount to a further c.£10k a year perhaps.

The best way forward would be to try to agree an amicable solution now while you are still getting on together, and to have a court order made in the terms you agree, so that you would know she couldn't come back later and ask for more.

I hope that is helpful.

Regards,
Mac.
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