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Topic:
Divorce calculations in principal (7 Posts)
Started By:
Date:
21 February, 2018 10:13AM
Divorce calculations in principal
sundance_kid - 21 February, 2018 10:13AM
Hi all.

I'd just like to verify the general principal of divorces just from a financial angle that would involve a scenario of wife, husband and child from the husbands perspective.

Is it like a sticking plaster. Best to rip it off fast, divorce sooner, take the financial hit and rebuild or do the odds improve for the husband with time.

In sticking plaster scenario the husband will likely give up the equity in the house but on the basis it reduces the child maintenance since this option would be agreed upon outside the courts.

Or is it best to wait further along down the line as this leads to three questions.

1) Do divorces favour the husband the further in time it goes. i.e. with a smaller mortgage, more equity in the house and essentially with a bigger pie to split.

2) Is it better from the husbands point of view if the wife is working. I imagine it is since the wifes income is factored into the equation.

3) Does the age of the child factor in, in terms of splitting the assets. i.e. 10 years of child maintenance as opposed to 5 years

I don't wish to hear about the morals of the situation it's just a FYI for future reference.
Re: Divorce calculations in principal
davidterry - 21 February, 2018 10:49AM
These are questions so general in nature as to be more or less incapable of meaningful answer. The figures and the details are everything in divorce.

For what it is worth if the husband is relatively young and has many years of earning capacity in front of him it is almost always better to take the hit and rebuild while there is still time to do so. It becomes much more difficult to rebuild the fewer years of earning capacity remain.
Re: Divorce calculations in principal
sundance_kid - 21 February, 2018 12:47PM
True it is general topic in all fairness.

I think what I'm getting at is if 90% of the joint holdings are in house equity what chance do I stand to get even a 30% cut off that to give me a deposit to start afresh in my own home.

The alternative is walking away from the equity entirely on the agreed basis I have no child maintenance to pay for. The problem with that is I'd have to rent and to save for a new deposit whilst paying rent would be a massive hurdle.

I think I'm trying to gauge what can happen in these situations.
Re: Divorce calculations in principal
Andyk - 21 February, 2018 01:06PM
Very clinically - get divorced ASAP, move on, rebuild and don't get married again.
Re: Divorce calculations in principal
HatMan - 21 February, 2018 01:15PM
You cannot walk away from child maintenance EVEN if she gets all the equity.

It just doesn't work like that.
Re: Divorce calculations in principal
sundance_kid - 21 February, 2018 01:19PM
"You cannot walk away from child maintenance EVEN if she gets all the equity."

She has suggested it before. If she agrees to it can it be enforced contractually?
Re: Divorce calculations in principal
Andyk - 21 February, 2018 02:24PM
She could agree to it in the financial split but then after a year she could ten go to the CSA or whatever they are called and come after you for more. As HatMan said, you cant get away from it, well you can if you don't pay it but I imagine only until she gets an attachment order on your earnings.
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