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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.

Will the judge say this is ok?

  • MrsMathsisfun
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20 May 12 #331713 by MrsMathsisfun
Topic started by MrsMathsisfun
My partner and his ex has been using solicitors and mediation to come to an agreement over finances. Its only taken 2years!!

Finally an agreement has been made and they have had to complete the financial declaration form.

The agreement reached is that both parties keep their own properties (bought at time of separation. The ex has 20k more equity), their own pensions and my partner to pay a small lump sum for a Clean Break agreement.

Both parties incomes are similar. The ex''s potential income is much greater than my partners, but at present she works part time because of the children. The lump sum is to pay for childcare until the children are at secondary school.

My partner has a money purchase scheme and his ex an final salary.

However because of the value of the pensions it looks like my partner is receiving a greater portion of the assets.

On paper it looks like my partner pension is worth about 100k more than his ex, but actually they are worth about the same if you considered the amount of pension they will receive on retirement. (based on today figures not future contributions)

The ex''s pension will be worth more than my partners in the future as she is 11 year younger.

Will the judge consider that the asset split is fair?

We really dont want the Consent Order rejected at this final hurdle.

  • cookie2
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20 May 12 #331756 by cookie2
Reply from cookie2
I can''t see why it would be rejected. It was drawn up by a solicitor. A solicitor would not make something that is likely to be rejected.

  • MrsMathsisfun
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20 May 12 #331770 by MrsMathsisfun
Reply from MrsMathsisfun

just seeing the figures on paper my partner was concerned it looked like he was walking away with more of the assets, when in fact the pensions are actually worth about the same, (hers is probably worth much more.)

Also her house has gone up since purchase by at least £12k (she did a house swap when the FMH was sold and got her house at a discount) but she hasnt written that down claiming an increase of £1k!!

My partner will be so glad when this is all over and we can move on with our lives.

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