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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.

Transferring of assets prior to divorce?

  • Crumpled
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08 Jun 12 #335827 by Crumpled
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hi any property transfers would be trackable and not only that there would be a tax implication also so probably not such a great plan.........go to counselling if you want to save your marriage

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09 Jun 12 #335855 by WYSPECIAL
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gfm198 wrote:

Sorry, what do you mean the order would be set aside?

What are the massive costs of transferring property?


When your ex went back to court and said "Look I only got x because he transferred these assets I want you to reconsider." They will throw away the original Consent Order and start again.

Stamp duty, tax. You can''t just give someone something worth thousands of pounds without the government wanting a slice.

It is very honourable wanting to leave your kids an inheritance but when will they get it? Little point getting something in the latter stages of life when they might well be parents or even grand parents themselves if they spent their childhood in poverty.

  • u6c00
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09 Jun 12 #335862 by u6c00
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Perhaps you will be successful in your attempt to hide your assets, and perhaps you are being genuine in your desire to save your marriage.

I absolutely guarantee that nothing will kill your marriage quicker or more effectively than being deceitful. Say you sell one of your houses. As soon as your wife finds out that it''s being sold there is going to be one thing on her mind: "He''s preparing for divorce. Better beat him to it."

As soon as she realises that you''re preparing for divorce, she''s going to have no choice but to get to a solicitor ASAP. You''re squandering your only chance to save your marriage by even looking into this. For all you know your wife has a keylogger or something to monitor your internet usage.

Trust me, you''re risking your future (and your unborn child''s!) on this fool''s errand.

  • Fiona
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09 Jun 12 #335865 by Fiona
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Honesty is the best policy.

Hiding assets is a false economy because of the potential legal costs of protracted hearings, sanctions and penalties. The courts have the power to set side the disposal of assets intended to prevent or reduce a spouse''s claim or add the value back to the matrimonial pot. When there is evidence of non disclosure an estimate of the "true" value may be made and the judge infer a decision which won''t be favourable to a non compliant party and can''t be appealed.

Disclosure may go back 3-5 years. Failing to comply with court procedures and rules is litigation misconduct and the penalty is an order to pay the other sides costs which easily amounts to tens of thousands. In one case the costs of a forensic accountant alone were £100k.

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