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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


I want to know if what i will pay is fair

  • Child Maintenance Options
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25 May 12 #332902 by Child Maintenance Options
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Hi Rigger

Thanks for your question on the amount you may have to pay for your children in child maintenance.

The child maintenance section on the Wikivorce website has a calculator which can give you an indication of what you could be expected to pay. If you used the CSA, you would be expected to pay 20% of your Net earnings (after the payment of tax, national insurance and any pension contributions).

However, if you and your ex could come to an agreement between yourselves, which is called a family-based arrangement, then you can pay whatever you both decide. The Wikivorce child maintenance section has a lot of useful information about family-based arrangements.

  • WYSPECIAL
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25 May 12 #332995 by WYSPECIAL
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rigger wrote:

I am going through a divorce I have 2 children 1 of 5 and 1 of 10 I know that I have my responsibilities and I am not trying to shy away from them. My wife wants to pay me 30% and out of that I need to get a house. I am 47 and if I can get a mortgage and because of my age the mortgage will be over 17 years. to get somewhat decent place the monthly repayments will be about £1500 on top of that the wife wants 20% of my earnings for child maintenance which equated to about £700 per month. So, with mortgage and maintenance I will have to pay about £2200 on top of that I will have my council tax, utilities, food etc etc. how can i survive I have to life I feel that £700 is a bit steep considering that my salary is between 45-48k per year.

Can someone please advice


What is the 30% that you are refering to?

  • Fiona
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25 May 12 #333015 by Fiona
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rigger, do you mean your wife proposing the equity in the former matrimonial home is shared 70:30 in her favour? The aim is to separate the finances as much as possible so your wife will be responsible for paying her own mortgage.

As far as child maintenance is concerned you can agree between yourselves what you think is fair but under CSA rules you would pay 20% of your net income for two children minus deductions for any overnights they stay with you.

  • rigger
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26 May 12 #333023 by rigger
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Yes it is 70/30 in her favour once I get paid off she I on her own And pays her own Mortage and All other bills

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30 May 12 #334039 by Mobiman
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I got caught out like this. If I had my time again I would never have left the home just because my ex wanted to split. I''d Make her the same offer, after all she wants to split. let her leave the home, you give her 30% and she pays you maintenance...............I bet all you hear after that is spluttering...... Who says its the man who has to leave their home and have to start all over again...at 47 you''re going to be paying C.S until your 65 if you keep working. Think very seriously about what you agree to do.... Believe me when I say this. I was married for 18 years and if someone would have suggested that my ex would pull some of the stunts that she eventually did, I would have never believed them................Please protect yourself and trust no one.

Regards

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