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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.

 

clean break proof that you can pay?

  • GinPin
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02 Apr 16 #476294 by GinPin
Topic started by GinPin
If you wanted to pay off a spouse out of the marital home, does the judge have to see proof of the finance available to do so, before approving what you and your ex have decided on?

  • LittleMrMike
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02 Apr 16 #476295 by LittleMrMike
Reply from LittleMrMike
The judge would, or should, have a summary of your finances submitted as part and parcel of the application for the Consent Order.

LMM

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03 Apr 16 #476314 by GinPin
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Thank you LMM, that is what I thought. This may sound daft but does this mean that, given that my daughter saves very hard but her husband spends every penny he has, the money she has saved will be shared with him as an asset before she can actually use it to pay him off? Or because she has saved it since separating, can it be kept apart?

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03 Apr 16 #476322 by LittleMrMike
Reply from LittleMrMike
I recall reading somewhere a long time ago that a thrifty wife
would not be penalised because she is thrifty and a spendthrift spouse should not be rewarded for his/her extravagance.

The Court will make a decision on the basis on the facts as they are when the decision falls to be made.

Conduct is taken into account only rarely, and I would suggest that you take some legal advice before raising this as an issue.

LMM

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