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OK, in short:
1. Sell the house - split the profits.
2. You remain - and buy her out - with a sum agreed (half the equity is the starting point but if the children remain with you this could be more weighted in your favour).
3. She lives in the house - and buys you out.
If you do not deal with the issue of the financial separation this can them come back to haunt you as a claim can be made at any point in the future, so I do strongly suggest you deal with these issues.
Yes if you don't deal with the issue now it can be revisited in the future. It may cost more to buy her out in the future if the house price has risen and you have paid more off the mortgage. She won't be able to move in with her boyfriend if you have divorced though, and her boyfriend has no right to live there at all.
It would be via a trust deed.
It's possible, yes.
You would need a solicitor to draw this up for you though.
OK. The asset would be owned by you for the benefit of you and your children, depending on the terms of the trust it would depend on when they would be able to benefit from the funds.
OK - see here for general information about trusts:
As regards ***** ***** you would have to, in my view, sever the joint tenancy to define your respective parts of the property in order for a specific share to be 'given' to the children, via a trust.
I hope this assists.
My advice is to try to buy her out of her share at today's market value as then you have resolved the issue.
I'm sorry I don't understand the question I'm afraid.
Nothing - if your offer is fair the court will agree that this is the best option even if she does not agree.
I suggest you start this off through mediation - it's a lot cheaper.
The process is started by booking a mediation assessment appointment - see here for a link to find your local mediator:
http://www.nfm.org.uk/. Assessments are usually around £30-£40, and the mediator will advise as to how many sessions might be required.