2 Comments Family & de facto law, financial agreements, consent orders
I am curious why no-one has replied...more people need to know about this site.
My advice is borne from experience...If I were you, sell and settle for 40% of total assets...alternately, clinch a deal where instead of Maintenance, you give her the house....this leaves you renting, and starting again...but, no maintenance!....the kids will inherit whatever you both leave them, so rather than sell and split the money, (and possibly make wrong decisions with your respective shares- like gambling it away), the house stays within their grasp on inheritance..if your wife can't afford to keep the house....can you buy her out?....if not, just sell and move on....she will get about 60% guaranteed, and your 40% should be invested extremely wisely, so that the interest can help pay your overheads, good luck and stay outta court!
I have being through this I am now divorced but still have to settle property myself within the new few months. The rule of thumb I have being told is that there is a formula family law will follow, and being the fact that there are 2 children if could be a 70/35 split. They take into account what both parties had before the marriage and during and what was brought into the marriage, who was taking care of the kids, who was the bread winner and it is maintained that a stay at home mum is a full contribution as the main bread winner. If she decides to stay in the home well she will have to pay you out your share. In reference to your current situation contact the child support agency as I am not sure but you either pay child support or the mortgage, I know this as I was in the same situation as yourself and either my ex paid one or the other as you have to maintain a certain life style yourself.
Have you gone into the Family law website that has some useful information. Try that. if you want to respond to this please do.