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Read our latest Financial Settlements guide (2021)

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.

FDR

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Wild bluebell
Posted by
Premium Member

14 Jul 15 #464161 by Wild bluebell

Topic started by Wild bluebell

In court soon and I wonder if someone could advise a fair settlement ?

25 years married

540,000 pension him
88, 000 me

250,000 house with 85, 000 remaining on mortgage
Endowments about 50, 000 in the next 18 months

He earns 40,000
I will increase to 26,000 next few months

Two children in full time education 17 and 14 with no contact with father (complicated)

He is cohabiting, but says it''s temporary.

Any advice ?? I would like to keep House as kids have been through enough !

hadenoughnow
Moderator

15 Jul 15 #464176 by hadenoughnow

Reply from hadenoughnow

The first thing to do is work out how much mortgage you can raise. Once you know that you can work out what kind of offer you can make.

I would suggest that offer is the endowment policy plus whatever you can raise on top of the existing mortgage amount. When you know what percentage of the capital assets you are suggesting you get, you can work out how to balance that from the pension assets.

At present the endowment equals approximately 25% of the cash assets. That is within the bounds of fairness and may be agreed by a judge ... But you need to be prepared to offer more if possible.

Hadenoughnow

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Moderators: wikivorce team, rubytuesday, dukey, hadenoughnow, Tets, Shezi, Linda Sheridan, Forseti, Mitchum, WhiteRose, Lostboy67, WYSPECIAL, Bubblegum11

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