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I am a Solicitor and will try and assist you.
Please can you confirm - is the matrimonial home rented or owned?
By the time all debts are paid probably about £20k he works full-time and earns about £30K our children are 27 and 23 so no dependants.
Thank you for confirming this.
If you decided to go through divorce or legal separation then you could make a claim in respect of the matrimonial finances.
The matrimonial home is often the main asset and will often be sold so that both parties can downsize.
The correct process for dealing with the matrimonial finances and division is to go through a process known as full and frank financial disclosure. Yourself and your husband need to exchange full details of all assets and liabilities before negotiations take place in relation to settlement. Disclosure includes all assets including pensions.The normal rule for division is 50/50 however the matrimonial causes act sets out factors which could lead to a departure from this rule. A few examples are the likely earning capacity of both of you for the future, health needs, etc.Either spouse may make an application to the court for a spousal maintenance order, also known as a periodical payments order.The court follows the legal principles from legislation and case law in making its decision, although each judge has a discretion to do what they perceive to be appropriate on the evidence in each particular case. This means the precise outcome of financial court proceedings can be quite difficult to predict.The statutory principles are set out in section 25 of the Matrimonial Causes Act 1973. The court considers:•the income and earning capacity that each of you have or are likely to have in the foreseeable future and in the case of earning capacity, any increase in that capacity that it would be reasonable to expect you to take steps to acquire•the financial needs, obligations and responsibilities that each of you have or are likely to have in the foreseeable future•the standard of living enjoyed by the family before the breakdown of the marriage•your ages and the length of the marriage•any physical or mental disability of either of you•contributions made or likely in the foreseeable future to make to the welfare of the family, including any non-economic contribution•conduct, if that conduct is such that it would, in the court's opinion, be inequitable to disregard it (although it is rare for conduct to be taken into account and the reason for the marriage breakdown is very unlikely to be a conduct issue), and•the value to you of any benefit that you will lose the chance of acquiringMaintenance ordered to cover the interim position only is called ‘maintenance pending suit' (MPS). In an application for MPS, the court will concentrate on a party's immediate and interim needs only, so a separate interim budget needs to be prepared. An application for MPS can also include a request for an order that one party make payment to the other party for their legal costs, also known as a legal services order.An application for MPS can be made on or after a divorce petition has been filed with the court but before decree absolute.In the majority of cases, meeting essential needs will be all that is achievable. Where financial resources are limited it may only be possible to meet the basic needs of one party, often the parent with the day-to-day care of the children of the relationship. Your needs will be considered within the context of the available resources of the marriage.You should consider making a referral to a specialist mediation service.They can assist in relation to the process of disclosure and also in relation to negotiations about division. One such mediation service is the National Family Mediation service. www.nfm.org.ukIf agreement cannot be reached then an application would need to be made to the court. You can not make an application to the court until you have at least attempted mediation first.It is very important that no division of any assets takes place until a court order is obtained.If division is agreed without the need to apply to court then you should submit a consent order for Judicial approval prior to division. Not doing so could leave you open for a future claim. A Solicitor can help you draft the Consent Order to protect your position for the future. The court will not approve or make an order unless decree nisi has been obtained in divorce proceedings. If you do not want to divorce but will still like to deal with the issue of matrimonial finances - then you could consider Judicial Separation - you would not be divorced but you would be recognised as legally separated.Kind RegardsCarolineI would be grateful if you could kindly rate my answer. I am new to this service and positive feedback is gratefully received. Please note that we receive no credit for our work and we do not get paid unless positive feedback is received.