Discussion
I've been with my now wife for just coming up 11 years. On the most part they've been great, we have two kids a 2-3 year old but unfortunately things have broken down to the point where I believe it could be better for all involved if we go our own separate ways.
My priority remains with the children of which I love dearly. I've always looked after my wife she's wanted for very little materially and I still want to make sure she's comfortable should I leave, I want my kids to live in a nice house etc.
One aspect I don't understand is the financial aspect. This may sound crass but it will be a consideration on my children's lives, I work very hard for all of them but don't yet know what costs I'll incur. I work in sales my earnings are between £150k - £250k per year, this is achieved off a £60k basic of which I get monthly bonuses. Can anyone explain at a high level what I'd be expected to pay every month. She has a part time job and earns around £700 per month.
I'm not really looking to start a try and work it out thread I just want to understand the financial repercussions on us all.
My priority remains with the children of which I love dearly. I've always looked after my wife she's wanted for very little materially and I still want to make sure she's comfortable should I leave, I want my kids to live in a nice house etc.
One aspect I don't understand is the financial aspect. This may sound crass but it will be a consideration on my children's lives, I work very hard for all of them but don't yet know what costs I'll incur. I work in sales my earnings are between £150k - £250k per year, this is achieved off a £60k basic of which I get monthly bonuses. Can anyone explain at a high level what I'd be expected to pay every month. She has a part time job and earns around £700 per month.
I'm not really looking to start a try and work it out thread I just want to understand the financial repercussions on us all.
With that sort of income level and variability it's difficult to be specific.
CSA assessed Child Maintenance is 20% of net income less any discounts for your overnight care providing a minimum of 52 per year, but only in earnings up to £2000 pw net. Above that a court decides.
Therafter you may well be facing some Spousal Maintenance.
Your marital assets will be a factor too.
Best advice, try and work out a deal between you that you are both happy with. That can then hopefully be incorporated into a Consent Order which can be made legally binding by the Court as part of the divorce process.
Beware that her expectations may well significantly increase once she talks to a solicitor!!!!
CSA assessed Child Maintenance is 20% of net income less any discounts for your overnight care providing a minimum of 52 per year, but only in earnings up to £2000 pw net. Above that a court decides.
Therafter you may well be facing some Spousal Maintenance.
Your marital assets will be a factor too.
Best advice, try and work out a deal between you that you are both happy with. That can then hopefully be incorporated into a Consent Order which can be made legally binding by the Court as part of the divorce process.
Beware that her expectations may well significantly increase once she talks to a solicitor!!!!
PurpleMoonlight said:
Beware that her expectations may well significantly increase once she talks to a solicitor!!!!
This!! I have had friends separate in amicable circumstances (both with and without kids) and once the female has received legal advice on the divorce proceedings, they have been encouraged to squeeze their ex's dry. There's usually one winner ... the solicitor with both parties paying more for advice, barristers fees.The reality is that she isn't going to have the household income anywhere near where she has currently. Of course you need to seek legal advice but as above, coming to an agreement without the influence of solicitors will be in your own interests ...
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