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[UPDATED] Final financial settlement details for your viewing pleasure
#1
Background:

Broke up 3rd April 2017
Decree absolute 1st May 2018

Joint owned a house worth 400K
Mortgage 205K
Debts of 84K
Business debt 37K
Pension in my name of 5.5K

Capital to split 62.4K

Kids with me 5/14 nights

Joint owned a Ltd company, which is a vehicle for my contractor status. She was a director and shareholder for tax reasons only. 

Whats going to happen immediately.

  1. She gets 45K
  2. I get the house
  3. I get all the debts
  4. She resigns from the business and transfers shares to me
  5. We split our belongings according to a list I drew up (70/30 in her favour, I don't want the bed she cheated on me in)
  6. She leaves the house within 28 days, or a maximum of 56. After 28 days she pays all outgoings on the house for that month
  7. No further claims of any sort on each other
  8. I'll lend her 1K for a deposit on a place so she can move faster

Ongoing
  1. I pay her £500 CSM a month once she has moved out. (I have the kids 140 days / 365 and earn £1,250 per week before tax)
  2. In May 2019 she will apply to the CSM people to have it re evaluated based on my latest tax return (the fool, it's my company, I can make it say anything I like...)
So - by my reckoning I get some good, some bad. The equity split is not 50/50 but I do earn a lot more than her and there were disagreements about how much debt was ours. The house has increased in value a little since the figures were drawn up, and it was always my family home (my mum was born there).

Not mentioned is the cost of running the house she lived in for a year, and debt payments which totalled about 3k per month.

I think I spent around £21K all in to fight for more time with the kids and to exchange hundreds of letters with her solicitor. She didn't get legal aid so she is down a similar amount.

Depending on how quickly the courts approve the order, I should be back in my house, entirely financially, emotionally and physically divided from my ex and happy - within 3 months of now. Minimum 6 weeks, maximum 12. That's 16 months from the day we split up.

Cheers.
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#2
Fantastic detailed breakdown. Will give others an idea in a similar position!

Good luck!
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#3
Thanks and I hope so. Happy to share any other details.
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#4
Thanks for providing this Tamagoto. Was spousal maintenance every pushed for by your ex or her solicitor? I'm 6 months behind you at least with the financials even though I probably started at the same time. Ex keeps threatening me with spousal maintenance though. With the amount of benefits she's receiving, she's leaving a WAGs lifestyle at the minute but it's just not enough for her!
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#5
She asked for 35K and some of my wages for six months - but as I’m remortgaging anyway I said I’d just give her 45 up front.

I think the clean break thing is really pushed now so there was little chance she’d get it anyway. She has two arms and two legs, can go stack shelves in Tesco if she has to!
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#6
Agree totally!
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#7
Some more good news - I’ve been told the ex has been asking on a local Facebook forum for cardboard boxes so she must be actually moving Smile
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#8
How long where you married for? Cheers
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#9
Married July 2009, together for 2 years before that, knew her for 10 years before that Smile
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#10
Here's mine, agreed last week:

Assets:

House £300k
Other properties £300k
Mortgage £180k
My pension £380k
her pension £50k

She gets:

Other properties £300k
Her pension £50k
and £20k cash

I get

House £300k
My pension £380k
Mortgage £180k

...and my £20k cash savings gone.

15 yo daughter lives with me, will most likely live with her mum for a couple of years soon so not bothering with maintenance either way. Married for 20 years.

Done without solicitors (other than money for the consent order - done online - and a new will) and a MIAM and using the guides available for free here and on the net.
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