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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.


Now/Later, costs incurred

  • maliciouspenguin
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21 Apr 12 #325482 by maliciouspenguin
Topic started by maliciouspenguin
Your respective ages;
me-28 & her-27

No Kids

The length of your marriage and any period of pre marriage cohabitation;
4 years married, been together for 10 years

Your respective incomes;
me-approx £25000, her-£0 (she used to work part time( she refused to get a FT job) and has given it up recently. She is looking for a job now I think)

Your respective outgoings monthly;
Things could be changing in the next few months-
Currenty-£300 to parents for accomodation/food
Credit cards £300
Loan £90
Mobile £40
Petrol £300


When moving in with partner
£400 accom/food
Childcare £100
Credit cards £300
Loan £90
Mobile £40
Petrol approx £450 could be higher


Your assets - both soley held and joint;
No house
Contents- I have car and garden furniture. She has everything else


Your liabilities.
Credit cards
Mobile
Loan
£2000 overdraft
Credit card debts are from time together although they are in my name


Question:
1. Should I file for divorce now or wait until I move in with my partner?
2. I want to go DIY, from my understanding it will be approx £500 for divorce papers and the decrees. Is this correct?
3. I coud file for U.B, although I think it''s fairer if she applies for adultary (she won''t though.) If I apply and she contests it do I have to pay for any of her fees? If so how much?
4. Is it likely I will have to pay her a monthly sum? If so, how much?

I would really appreciate any advice here guys- oh, we split around 4 months ago

  • hadenoughnow
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21 Apr 12 #325601 by hadenoughnow
Reply from hadenoughnow
Four months is a very short time ... are you sure the problems you have are insurmountable?

You are both young - you say you have been together for ten years. For how much of that time did you actually live together?

If you are cohabiting or intend to cohabit that affects your financial position because you will have two incomes to share costs.

The fact that your new partner has a child (presumably not yours?) and there will be childcare costs is not your stbx''s problem.

Where and how is your stbx to live?

You say the credit card is costing £300 a month - are you paying a minimum payment? What is the actual size of the CC debt?

1. Should I file for divorce now or wait until I move in with my partner?

It does not matter. If you do use UB grounds, it is polite to go through them with your stbx to save any more angst.

2. I want to go DIY, from my understanding it will be approx £500 for divorce papers and the decrees. Is this correct?

Have a look at the wiki service on the right hand side of the page. The divorce itself need not be costly - and to be fair you could agree to pay the costs. However if there is a legal fight over money, this can be very expensive and each party bears their own costs.

3. I coud file for U.B, although I think it''s fairer if she applies for adultary (she won''t though.) If I apply and she contests it do I have to pay for any of her fees? If so how much?

Contesting a divorce is a pointless and expensive exercise. She can always say she disagrees with the grounds but agrees the marriage is over.

4. Is it likely I will have to pay her a monthly sum? If so, how much?

On the figures you have given, it is very unlikely. You may need to agree to take on some or all of the joint debt to avoid a court fight and the expense that entails. It is a good idea to make sure you have a legally binding financial settlement in place (Consent Order) so you have no future claims on each other. Wiki also does this inexpensively but you must both be in agreement.

Hadenoughnow

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