How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jo C. Your Own Question
Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31768
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

What are the financial implications of legal separation

Customer Question

What are the financial implications of legal separation
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
Thank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstHow long were you living together?What income do you have?Do you wish to be divorced?
Customer: replied 1 year ago.
Thanks. Married 20 years. No dependent children. My income - fixed NHS pension £40K. Continue working - part time approx £50K (Had'nt planned on working much after retirement). Unsure about divorce-- initially very unhappy, but now wife seems to be changing mind. I don't think that we can now reconcile after 10 months apart . She's with old mother in Brecon S. Wales - I'm in Durham. Most of my working income goes on supporting her, rent for her house and my legal bills. I can't carry on like this and wonder if financially I'd be better off making a clean break and doing a bit of saving again.
Expert:  Clare replied 1 year ago.
What is the capital position?
Customer: replied 1 year ago.
House £300K no mortgage (joint names), savings , ISA's. Etc about 200k, not crystallised SIPP £250k all in my name. She's on benefits due to alcoholism + drug addiction and has no sig assets. Andy
Expert:  Clare replied 1 year ago.
Would you be looking at a 50/50 division of the capital?
Customer: replied 1 year ago.
No . Not at all. I simply want to understand what the processes are, what I might be expected to pay/contribute and what my liabilities might be. She had initially indicated divorce, but seems to have changed her mind. She's going on about buying a small house for herself, whilst remaining married. However, as I initially indicated current arrangements are being funded by my continuing to work, and I get no benefit.
I f we start this legal separation is it simply a matter of my wife and I agreeing how the financial arrangements would work, or is ther any sort of legal precedent.
Thanks
Andy
Expert:  Clare replied 1 year ago.
Where does she wish to live?