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School fees savings

AJ
23.11.2018 5:41:12

3646

Married 13 years, together 18 years. Have been advised by a solicitor 70:30 split of assets could be seen as fair due as I have been a stay at home mum since kids born (12 years). We have a savings pot which was allocated to pay children’s ongoing education. I would like that to go into educational trust so it continues to be used for the purpose intended. With that plus my families money we could complete the kids education to gcse. Husband wants to split it as he says he needs £ for house. He would have £149k to my £340k based on house sale. Additionally lives in West Country where housing far less expensive than where I am. Please advise. He earns £120k. I have always been stay at home mum but due to return to work full time in January on £40k

Replies (1)

Rebecca Jones
23.11.2018 15:11:47

Hi AJ, Thanks for getting in touch. Assuming the children will be spending time with both parents the primary consideration will be that they are suitably housed. If you can both re-house with the equity you receive from the family home and your mortgage capacity then you can look to preserve the savings you have for the children’s schooling. Alternatively, you could look to see what income you both will have and whether you can have maintenance that is specifically for school fees. Feel free to book a call here for more help and advice. Rebecca

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