Divorce and Contracting (For chaps eyes only ..)

[castoff101]

I have been out of work for five months after being made redundant from my permie job! Did not try too hard during the summer months, but now the winter is here…….

My wife also announced a few months back that she wants a divorce (talk about hitting you when you are down!). She has been waiting for me to get a job before starting the legal process.

It looks like I will have a contract starting next week for three months at £300/day. My permie pay was around 30k.

My question is ……………..

As it took so long to find this first contract I have no idea if this one will be renewed or how quick the next one will appear. Bearing in mind spousal maintenance and or that, what is the best option – umbrella company ie Parasol IT or my own company. By going my own company route and taking a reasonable income and building some company reserves would my future ex-wife have any claim on this lump sum?

Any other ideas on what the best route is – as not only have I got Hector to consider but my wife !

Thanks - I am ready for the girlie flak!!

[threaded]

Don't bother working if you can do that without losing the house etc. etc. You will find it's a waste of time: 'cause you'll end up spending all the money you make, + more, on lawyers fees.

If you don't bother working you may well be able to get legal aid for various parts of the rigmarol and the lawyers will only do the proper stuff they get paid for.

Sign on the social, you sound a little depressed so go to the doctor and get signed on the sick as well.

Get involved in some OpenSores project to keep your hand in. When it's all sorted out, then go back to work.

You will thank us one day for this advice if you follow it.

Otherwise get used to sharing a grotty flat and nylon sheets...

[Lucifer Box]

Too right, Threaded. Don't take the contract under any circumstances. You'll just be working to support the missus and her new boyfriend. Get signed off sick and wait it out for a couple of years. Remember, they can only take what you've got - and don't include money in the company accounts in your means assessment!

[bassy]

Do you have children? If so why on earth do you have to maintain your wife (ex) - can't she go out to work herself like everybody else. Did she work whilst you were out of work for five months? The others have a point why work yourself into the ground if someone else is going to get all the benefit.

[expat]

If you don't have work or income, you should be able to get legal aid. When one party has legal aid and the other hasn't, that party essentially has bottomless pockets to pay lawyers, while the other hasn't. It's very unfair.


However, if you happen to have a contract just at the time of the settlement, you risk being assessed on that as if it were permenent. Worse, her lawyer will amost certainly attempt to claim that your salary = 50 times 5 times your daily rate. Watch out for that. When permies do that mis-calc, it's merely annoying. If a court does it, you're in the hole.

Any chance of an amicable settlement? It keeps the most money away from the lawyers (and you may well feel that you still care for each other more than for them).

[thunderlizard]

Ask a proper lawyer, but I don't see what claim an ex-wife could have on equity in a company you started up after she left you (or as near as damnit)

[Lucifer Box]

Ask a proper lawyer, but I don't see what claim an ex-wife could have on equity in a company you started up after she left you (or as near as damnit)

Ordinarily no, but there were those couple of worrying cases where courts awarded half of future earning to support the ex-wife's new boyfriend. To be sure, in both those cases there were millions at stake, but best not to take the chance I feel.

But, yes, in the first instance aim for the amicable arrangement, but in any case at least get some preliminary legal advice. In all cases it seems wise to stay out of work aroiund about the time of any settlement calculation as long as you can afford it (or even, possibly, if you can't as better you undergo some hardship now rather than support the ex-missus and her new boyfriend for the forseeable).

[castoff101]

early days ......

Thanks for all your replies ……………..

It’s early days yet – and the divorce financial settlement could be a long way off – think I am ok for this three month stint. I cannot stay out of work too long – very easy to forget the few IT skills that I do have ! I have been out of work for the last five months, no idea where the time went all the time thr sun was shining. Could repeat next year !?

Also I have some property investments and rental income so that excludes me from the welfare state. At the moment wifey and I are still talking, she is aware of the vultures and so far would be happy with mediation.

Would it be the option here that a ltd company would be the way to go ?

[Lucifer Box]

Would it be the option here that a ltd company would be the way to go ?

If you're in the middle of divorce proceedings, it's a complete no-brainer. Try and keep as much money in the company coffers as possible. Draw the absolute bare minimum you need to live on, even if that means going without a few comforts for a while.

[xoggoth]

OH feck I dont know, I have sunk enough vodka tonoight to sink the SS Potemptkin. Wish you the best of luck with whatever it is. Why hasn't she mailed me????