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 Harris Your Own Question
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
Type Your Family Law Question Here...
Harris is online now

We are going through a financial settlement my husband has a

This answer was rated:

Hi we are going through a financial settlement my husband has a salary three times my salary. We have an equity of 120k in the house and besides he has some savings. his pension and my pension put together is about 100k. We split up because of his behaviour where I did some injunctions against him but now the are all cross undertakings. We both are in late thirties and have a 13 year long marriage with a 50/50 childcare split of our 7 year old girl child. We both have no family ties in this country or any other backup options other than our jobs. I am at the risk of redundancy so I am cautious that it will be hard for me after I have no job. It might take a while to get a job. He presently pays only cms entitled to me. Hi sal is 100k on P60 and mine is 37k. Please advise what could be a fair settlement. We both are british and have been in the country for 13 years.

Hi, thank you for your question. Just a bit more information required to fully assist you:

-Who is now living in the property?

-How much is the property worth and how much mortgage is outstanding?

-How many bedrooms is the home?

-What other assets do you both have (both sole and joint), together with values?

-How much are your pensions each?

Customer: replied 1 year ago.
Property is valued at 330,000, I live in the property. There are two cars values are pretty much the same. There are two bedrooms in the house one is my daughters and one is mine. My pension is around 35k and his is 75k.
Customer: replied 1 year ago.
Mortgage remaining is 185k, property can vary from 300k to 330k on selling

Thank you - and what is your husband's housing situation? Is he in rented accommodation now?

Customer: replied 1 year ago.
he is renting, my mortgage is 667 and his rent is 1250
Customer: replied 1 year ago.
I get 666 from CMS monthly for childcare as his weekly income is 2k

Thank you. I cannot take a phone call at the moment, but I will continue to assist you here.

Firstly, as you have a minor child in your care, and given your modest salary, it will be difficult to rehouse both of you in suitable accommodation. A court may therefore feel that it is appropriate for you to remain in the current accommodation until your child reaches a certain age (eg. finishes education) and for the property to then be sold.

In relation to the pensions, you both have a decent pot and given your young ages and substantial time to increase pensions to a decent level, a court may think that it is not appropriate to equalise the pensions.

In relation to spousal maintenance, if you are able to meet your reasonable needs from your income then a court will not agree to impose spousal maintenance. However, if you are able to demonstrate that you cannot meet your reasonable needs then you have grounds to pursue this, especially given the disparity in incomes.

As part of mediation you will both need to provide each other with full and frank financial and income disclosure, as well as disclosure of your reasonable needs. The Court's starting point is a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. However, given that you will unlikely be able to rehouse yourself - whereas he may be able to given his large salary, the split may be more in your favour. For your information when making a decision regarding these matters the criteria considers the following criteria:

1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;
2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;
3. The standard of living enjoyed by the family before the breakdown of the marriage;
4. The age of each party to the marriage and the duration of the marriage;
5. Any physical or mental disability of either of the parties to the marriage;
6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;
7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;
8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.

If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you

Harris and other Family Law Specialists are ready to help you