Thursday, November 09, 2006
I know a young boy who attended his father's wedding recently. In the joviality of events he was asked to make three wishes by a passing drunken adult.
OK he said:
Number 1 - I want to be a famous footballer
Number 2 - I want my mum to stop being mean to me.
Number 3 - I want my mum and dad to get back together!!!!!!!!!!!!!!!!!!!!!!!!!!!!
This not so secret wish is shared by all children of divorced parents. Be aware that regardless of how bad your marriage and home life are, your children would prefer things to carry on rather than have one of you leave. Helping your children accept that their wish will not come true is a parenting challenge that should help distract you from your own problems!!!!!!!!!!!!!!!!!!
Friday, November 03, 2006
It looks like the fight of the century is going all the way to a final hearing. Given the assets involved the legal costs are a mere puff to the battling McCartneys, so the chances of a settlement look a long way off. The only way to settle is to stop playing the game and both the McCartneys appear determined to finish!!!!!!!!!!!!!!
So, what will Miss Mills get?
How about £38,000,000 ? She is 38 after all.
What about £64,000,000 ? He is 64 and very, very rich.
WHAT WILL A JUDGE DECIDE?
The Judge will have a very wide discretion and can take all the factors of the case into account, based upon certain guidelines which do not include behaviour alleged in a divorce petition. Unless that behaviour is so severe it would be unfair to ignore it. For example, a man shoots his wife and she cannot work again. She needs compensating from capital plus he can't pay her any maintenance because he is now in prison!!!!!!!!!!!
So what is the point of Miss Mills defending her divorce? We're back to winning that fight again.
WHAT FACTORS ARE RELEVANT?
The aim would be to let each party retain the assets they brought to the marriage and divide the assets acquired during the marriage on an equal basis. However, if one party's contribution produces that growth then there should be a departure in their favour.
The length of the marriage is an inarguable fact, less than 5 years.
If one party's ability and contribution to the finances is outstanding there should be a departure in their favour.
Paul McCartney is recognised globally as a phenomenal musician.
The Courts are required to consider a clean break, in other words make the parties financially independent of each other. There is sufficient capital in the pot to settle any potential maintenance claim that Miss Mills may have.
Children have a right to share the living standards of their parents. The needs of the child are the first consideration. The Court will want to ensure a similar standard of living in both households. Helicopter each then. Normally I would add that a private education would be included but Paul McCartney chose to educate his other children via the state system. An important choice given his wallet. Maybe he will change his mind on that one considering the state of our education system!!!!!!!!!!
To be continued.....................
Thursday, November 02, 2006
Not protecting your credit score can prevent you being able to afford to purchase a house post separation. An excellent score will result in interest rates on a mortgage being offered at around 4.2%, a poor score can double that rate.
KEEP PAYING THE MORTGAGE
Even if you have moved out of the former matrimonial home, if your name is on the mortgage then allowing it to go into arrears will have far reaching financial consequences for the future. No matter how much you want your spouse to suffer, don't cut off your nose to spite your face!!!!!!!!!!!!!!!!!