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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.


Wife cashing investments

  • howtogo
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20 May 12 #331772 by howtogo
Topic started by howtogo
I am on the horns of a dilema.
Wife did not disclose all on form E, and had to be REMINDED of certain investments, jewellery, and small pension.
Approaching FDR (second hearing) and just received letter from wife''s solicitor that she has cashed well over 30k of investments on top of the 35k she cashed last year 2011.
Will the judge take into account these cashed investments when we next go to court for the FDR?
So far she has cashed, in one and a Half years, more than twice what our net income used to be. She has stopped working and says she needs the money.
Am getting to the point where i am nervous talking to my solicitor as every phone call is charged at their usual exorbitant rate.
Can anyone throw some light.
Thanks.

  • dukey
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20 May 12 #331781 by dukey
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Really given this is not the first time your solicitor should have at least talked about getting an order from court to prevent this, or at the very least an undertaking from her not to dispose of anymore.

Anyway whats done is done, yes the judge will consider what is now liquidated and where it is now, chances are she will say its gone on bla bla bla, bear in mind the judge at FDR can only advise what a fair settlement should be, some don`t even do that.

When and if it does go to FH the judge will have to think about this, if its a needs case it may not go well for you, i mean you may not get any of it back, the judge can only distribute assets that still exist not what did, if you pot allows the judge may compensate you for the loss, trouble is this can only happen if there is enough money in the pot.

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20 May 12 #331786 by howtogo
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Thanks for the info. The problem is that i think she has not spent the money but hiding it and she cannot have spent all that amount in such a short apace of time.
The problem also is that i cannot seem to be able to find out where the money has gone.
The children are grown up, one in uni and the other working, so matters of providing for the children are not paramount here.
So i have this dilemma,and can only hope that the judge take into account the fact that she cashed these investments.
She also wants a pension sharing order, but i had accrued over 9 years of pension benefits before i met her.
Would there be a 50/50 sharing? She has a pension, though not as large as mine....and mine is already in payment having retired about 8 years ago, whereas she has yet to receive her company pension as she is 55 years old.

  • Jasperger
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20 May 12 #331788 by Jasperger
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Cashed-in investments must be paid into a bank account - and all bank accounts must be disclosed in Form E. You must make your wife, and the court aware of this via your solicitor. Once you have copies of the statements, you may find it necessary to trace the funds yourself, for example by looking through bank statements for high value transfers (which may reveal additional accounts) and high value cheques cashed. It will take time, but your time is free, and you can then present your findings to your solicitor. If your wife has been hiding assets, the court will look unfavourably on this and may well, in addition to sharing these assets out, order your wife to pay your additional solicitor''s costs.

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20 May 12 #331802 by howtogo
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I do want not this to go to Final Hearing as it involves additional costs, and i really wish to have it all over with at the FDR. She omitted things in the Form E, for which she apologises!!!
We had to ask supplemental questions regarding gaps in her Form E, and in her subsequent answers which were deficient.
We were months into mediation when she arbitrarily decided to terminate the process.
We have details of her bank /investment accounts, but they were very cloudy, and some of the entries were hand written.
Any sensible/reasonable person can see that there are attempts to hide and muddy the waters.
Can only hope that the judge will notice these and act accordingly.
I had originally offered her half of all our investments.

  • sim5355
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20 May 12 #331837 by sim5355
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hi! i am in the same boat i have just received e form from ex took out £12200 out in cash in the last nine months deposited £3000 in his bank account and the rest has dissappeared.

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20 May 12 #331847 by howtogo
Reply from howtogo
I am sorry to hear of that, but it seems that the courts/solicitors are powerless to do anything and the process is so slow that by the time one becomes aware of the misdeeds it''s too late.
Sim5355, what was the outcome if any? or are you still in the Form E and associated mess stage still?
The other party seems to be able to get away with lies and just say sorry!
The process is too complicated.
Would like to know how you got on.

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