Been made redundant

HI,

I put post about performance bonus on here per the weekend.

Monday morning go to work and get told i am being made redundant with immediate effect.

i will get a pay out from this, not much 26K tax free and 8K months salary, holiday etc etc.

What do i have to disclose to my ex and what do i have to give her?

i''m out of work now so can keep giving her 800 pounds per month as i have no income but i need the 26k to pay the mortgage until i find a job.

Steve

You have an ongoing duty of full and frank financial disclosure within divorce & financial remedy proceedings, so you should disclose full details about how much you will receive.

As to how much of the redundancy you may have to give her, this could depend upon a number of factors such as, how long it takes you to secure alternative employment, how much of the redundancy is left if/when the matter is determined by a court, how any redundancy money was spent/utilised in the meantime (i.e was it used for essential ongoing living expenses, or frittered away on extravagancies).

Basically, if there are any funds left at the time of trial, the details will still be required by the court, and the judge may regard any remaing funds as a matrimonial asset, which could be distributed as part of any settlement, but will consider any arguments presented as to why the remaining funds should be excluded from the marital pot.

You dont have to give her any extra until its decided by the courts.

use the money to pay for your lawyer/ barrister ... i wouldnt even pay off any debt as it will hinder you in the settlement

Looking back to your previous post as I understand maintenance is set out in a consent order which stipulates there should be a review and disclosure of your income soon.


How long is it since the order was made? What are the exact terms and is it just for child maintenance or is there an element of spouse maintenance?