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Husband separated from his disabled wife - finances on separation
07 March 2011
We were contacted by a man who was in the medical profession. He had been married for eight years and was separating from his wife. There were two children of the family. The wife was employed part-time and was disabled.
The equity in the former matrimonial home was £250,000.00. The husband wanted to sell the family home, thereafter the wife would get £200,000.00 in order to re-house herself and the children and the balance (£50,000.00) would be paid to the husband as a deposit.
The wife wanted £1,500 per month maintenance for herself and the children, together with the family home. She suggested that the husband gets a 15% Charge over the family home to be realised in the future. The husband was anxious to be released from the mortgage and have a financial clean break from the wife.
We persuaded the judge to sell the former matrimonial home; £200,000 would be paid to the wife and the balance to be paid to the husband. The husband would have a 30% Charge over the wife’s new property. The husband was to pay nominal maintenance to wife at 5p per annum. This would enable the wife to purchase a home, mortgage free and would provide the Husband with capital to get back on the property ladder.