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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.


Fair Financial Settlement

  • Jacqui19
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27 Apr 21 #516547 by Jacqui19
Topic started by Jacqui19
Sorry, this may be longwinded, but getting very stressed with all this;
I'm looking for advice on behalf of my partner. His soon to be ex-wife asked him to start divorce proceedings, which he did (his cost). She asked him to initiate mediation, which he did (his cost). She has now put a stay on proceedings as she wants some of his pension. Fair enough, the mediation woman advised to make them fair that he should give her £46000 of his pension. But that wasn't enough for her, she wants more!!
Mediation Woman advised that the property his Dad put in his trust will be torn to shreds by a Solicitor so this will count towards the settlement.
Background: - Wife works 12 hours a week as refused to work any more and doesn't have a massive pension (or so she claims). She hasn't provided a true and accurate figure.
Husband has offered to give her half of his property (£80,000) in exchange for no pension claim.
Husband bought this property and gutted it for her, did all the work himself, paid for all materials and other labour. He also paid all her bills for 2 years after he left.
Questions;
1: Is the Husband (my partner) being unreasonable to ask her to not claim his pension?
2: Will the court take into consideration the Husbands property in trust, bearing in mind his Dad is alive and well and anything could happen in the future?
3: Is the wife entitled to claim the property and pension, bearing in mind she has no mortgage to worry about, whereas the Husband had a mortgage until he is 70?

  • hadenoughnow
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28 Apr 21 #516557 by hadenoughnow
Reply from hadenoughnow
A lot will depend on the length of the marriage plus any premarital cohabitation plus other factors such as whether there are children to consider.

Both parties are expected to maximise their income unless there is a very good reason why they cannot. This may be disability, childcare responsibilities etc.

In respect of the trust, how this is treated would depend on the terms of the trust including what funds may be accessed and how. I would suggest it is a good idea to seek legal advice rather than listen to what the mediator says on this.

As far as the pension goes (and depending on the length of the marriage) the court would usually seek to equalise incomes on retirement. If the pensions are worth less than £100k equalising CE values may be accepted or there may be an offset of pension against equity.

Proof should be provided of all assets, liabilities and income. Without this there isn't sufficient financial disclosure on which to base a settlement.

Hadenoughnow

  • Jacqui19
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29 Apr 21 #516568 by Jacqui19
Reply from Jacqui19
Thank you for that. My partner has now decided to go to court with the financial settlement, hopefully there will then be full disclosure from the other party.

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