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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34236
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have been separated from my husband over one year

Resolved Question:

I have been separated from my husband for just over one year and am unsure how to proceed forward. We are not yet legally separated but both have agreed to sell the house which I am about to market. I hold a professional job and my husband runs his own business. He does not wish to get divorced but I am concerned to protect my own finances legally. What is the best way forward ??
Submitted: 1 year ago.
Category: Family Law
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information first.Do you intend to have a divorce eventually?Clare
Customer: replied 1 year ago.
I have tried to save the marriage but my husband doesn't appear to wish to work at the marriage, he is the one that has stated that he wouldn't like to get divorced yet. I would eventually get divorced if the marriage was totally irreversible.
Expert:  Clare replied 1 year ago.
Hi
How long have you lived together and what income and assets do you each have?
Clare
Customer: replied 1 year ago.
We have lived together for 20 years I currently earn Approx £45,000 before tax. My husband earns a lot less on his wage packet but often receives a bulk annual payment in dividends at the end of the year, dependent on company performance (he owns 49% shares in the business and his business partners own 51%). We currently have the house and car as assets and I have a company pension.
Expert:  Clare replied 1 year ago.
How much is the house and the business worth?
Customer: replied 1 year ago.
Hi....the house is worth £270,000 of which £170,000 belongs to mortgage lender. From last company house report ending December 2014 the company has the following Cash : £68.1K Net Worth: £111.3K Assets: £182.3K Liabilities: 146.6K (still awaiting report to be published for January to December 2015
Expert:  Clare replied 1 year ago.
Hi
If the business was sold how much would it be worth (best guess will do)
Clare
Customer: replied 1 year ago.
Hi....I'm really not sure. My husband has been evasive about the business since he left over a year ago . The best answer he gives is that it would have to be officially valued ??
Expert:  Clare replied 1 year ago.
Where will you live after the sale?
Customer: replied 1 year ago.
Initially I may live with family or in rented accomadation for 6 months if I can't find a house to buy or until all finances settled
Expert:  Clare replied 1 year ago.
Do you want to take a piecemeal approach to the finances - or to deal with them as a whole?
Customer: replied 1 year ago.
Probably a piecemeal approach. The only thing I am concerned about really is how liable I will be if his company falls into debt and we are not legally separated. I am concerned that if he loses everything he will try to claim a standard of living so to say from myself.
Expert:  Clare replied 1 year ago.
What Pension provision do you each have?
Customer: replied 1 year ago.
I have two company pensions one from my employment with Boots the other with my current employer. As far as I'm aware he has no pension or didn't when he lived with me
Expert:  Clare replied 1 year ago.
My concern about the piece meal approach is that it does make you a hostage to fortune in terms of the the business.Not that you would be liable for the business debts in any way - but in so far as should the business fail your pension could be at riskA better alternative woudl be to agree a Separation agreement where he keeps the business and you keep the pensions and the house is shared 50/50 between youEven better would be an immediate divorce and a Clean Break Consent order dismissing all future claims you have against each other.I hope that this is of assistance - please ask if you need further detailsClare
Customer: replied 1 year ago.
Thank you very much for that...I appreciate all your help
Expert:  Clare replied 1 year ago.
You are most welcome - do please ask if you need further details
Clare and other Family Law Specialists are ready to help you