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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34131
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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How do I work out if I will need to pay spousal maintenance

Customer Question

How do I work out if I will need to pay spousal maintenance to my wife.
Submitted: 12 months ago.
Category: Family Law
Expert:  Clare replied 12 months ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first.

Which country is the divorce taking place in and where do you both live?

Customer: replied 12 months ago.
United Kingdom. North dean, Buckinghamshire. In the family home.
Expert:  Clare replied 12 months ago.

How long have you lived together and are there any children involved?

What is the value of the house and how much is outstanding on the mortgage?

What other assets are there and what income do you each have?

Customer: replied 12 months ago.
It's ok. Email will do for now. Lived together for 14 years. Married since November 2004. One daughter of seven years old born January 2009. House is worth £700k. Outstanding mortgage is circa £300k. No other assets other than some shared savings, but also more than that in car loans etc.I'm the only salary earner. £120k basic with £40k bonus each January. I also have £65k worth of current shares in the business I work for. Plus significant options that will crystallise in November worth £600k.
Expert:  Clare replied 12 months ago.

How much will a two bedroom property in the same school area cost to buy?

Customer: replied 12 months ago.
The share options that will crystallise in November 2017 will not be eligible to be paid out until November 2020. They are also subject to me staying with the business.A two bedroom house in the same school area will cost £250k to £300k.
Expert:  Clare replied 12 months ago.

What employment options does your spouse have?

Customer: replied 11 months ago.
She is set up as a sole trader and is planning on doing consultancy for catering organisations. She charges £250 per day although hasn't done much so far. She could easily get a part time or full time job as has been a very successful Operations Manager. When she last finished work, 3 years ago, she earns £45,000 per annum. Although I think it most likely that she will probably work during school times and term times so her earning capacity now will be half that I would imagine.
Expert:  Clare replied 11 months ago.

I am afraid that spousal maintenance is very real possibility - although if she has sufficient from the sale of the house to purchase a mortgage free property then that may well be sufficient for a Clean Break bearing in mind her earning capacity.

Child maintenance will be 12% of your gross income at most!

I hope that this is of assistance - please ask if you need further details

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