I have an old 240 volt surface outlet in my kitchen. I am replacing 2 bedrooms and a bathroom behind the kitchen and have 1 existing 120 volt circuit. I would like to put the 240 volt line into a new subpanel and split it into 2 or more 120 volt circuits for the back of the house. The 240 volt circuit comes off the original circuit panel on two 50 amp breakers. Can I do this?