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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.

Financial Proceedings

  • tastic
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27 Aug 11 #284890 by tastic
Reply from tastic
Adam12 wrote:

I have some question regarding the Consent Order:

1. If property is (bought) located abroad, should the price of the property be shown in both British pounds (at app.) and foreign currency, and at which exchange rate (official – Central Bank of Foreign country or market – say, yahoo.com)?

2. When stating the ownership of the property, which details of the property are needed (address, price, when property bought) in Consent Order? Or is it enough to give the address only?

Many thanks for your help!

1. The only rule is that the information should be clear. I suggest it is best to show the value first in the local currency, and then in pounds (showing somewhere what exchange rate you use). There is no hard and fast rule about where to get the exchange rate, I have always used oanda.com.

2. The address is enough, but ideally also state the HM Land Registry number if you know it, as that is the definitive reference for every property in England and Wales.

  • Shane Jimison
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09 Nov 11 #296977 by Shane Jimison
Reply from Shane Jimison
It is always advisable to try to reach a financial settlement with your spouse on a voluntary and amicable basis. I think that anyone concerned about the financial aspects of their relationship will need specialist legal advice. If your spouse does not wish to finalize financial matters, ask yourself why.

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