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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.


Can a 50/50 be reached irrespective of situation

  • bobbeckit
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25 Jun 12 #339022 by bobbeckit
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Hi All,

My wife and I have agreed that we would like to 50/50, but having taken advice today from a solicitor this didn’t seem to be an option.

As previously stated we have 3 children and 4 properties including the MH. I work but my wife doesn''t, at the moment.

The solicitor informed us today that the most likely outcome if this went to court would be to sell all 4 houses and for her to move into a smaller property with a smaller mortgage, and for me to walk away with £30K.

To be honest this sounds ridiculous considering we have somewhere in the order of £170K equity.

What the solicitor was intimating is that a simple split would be difficult to achieve given the circumstances.

Is it possible that no matter how happy we are with the settlement there is a chance that it could be turned down by the courts if they do not agree. (makes it a bit of a joke considering it''s meant to be a "Consent Agreement")

My wife is happy to look for a job, and pay her way because she doesn''t want to see me being disadvantaged by the divorce. She wants me to be able to afford a house so that I can have the children over, and be able to afford to live, not to mention having some money for a bit of quality time with the children.

Any sane thoughts on this would be appreciated.

Bob

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25 Jun 12 #339033 by cookie2
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Yes it is possible for a court to reject a Consent Order. But that really only happens if it is grossly unfair. Their definition of "fair" is actually quite broad and as long as neither of you gets nothing, it will probably be accepted. We''d really need full details to say for sure, though.

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25 Jun 12 #339057 by hawaythelads
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Bob
that''ll be about right.
It''s the housing needs of the kids and the resident parent that''s the laws only concern.
£170k isn''t that great amount of money when it comes to buying a house to house 3 kids so about 20 to 25% to the bloke is about the norm.You''ve only got your dxck to keep and you can go out and earn your own money unencumbered by looking after kids.
that''s how the family law in this country works.
all the best
Pete

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25 Jun 12 #339061 by bobbeckit
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Hi Pete,

The thing is my wife does not want to see me walk away with 20-25%. This seems to be a bit of problem for everyone we talk to.

My wife wants me to be able to have a life after divorce, and not be confined to a bedsit spending my weekends with the kids at McDonalds.

Bob

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25 Jun 12 #339064 by hawaythelads
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You can try it and see if it floats.
Or if doesn''t try a 60/40 split.
To get a Consent Order stamped by a judge it has to be seen as being in the realms of fair.
If she takes independent legal advice and signs off the Consent Order at 50/50 a judge might stamp the consent order.Or they can call you for a hearing if she insists it is 50/50 then the judge may sign off on it.
She will have to sign a disclaimer to say that she has acted against the advice of her solicitor because they cover their rses that she doesn''t sue them for agreeing to a bad deal in years to come.
All the best
Pete

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26 Jun 12 #339191 by bobbeckit
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Hi Hawaythelads,

It just seems another set of hoops that you have to jump through.

Surely if we can prove the children are stable in the FMH, and that there is income from benefits, CM and maybe some time limited SM, this will be enough.

My wife is upset that she is being advised that she should be looking for a 70/30 when what she really wants is a fair 50/50 split. She acknowledges that she never came into the marriage with assets so why should she leave with almost all of them, and leave me in a worse position than I was 10 years ago.

It''s really admirable of her, as with a 70/30 split she would be in a very comfortable position, (unlike me).


Bob

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26 Jun 12 #339194 by hawaythelads
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Bob

If you have an agreement why not apply for a Consent Order online here at 50/50 that you both sign off on and present that to court.
I don''t actually think it will get knocked back by a judge.If your marital assets are split 50/50 that''s fair enough.It will be considered to be fair.
high Street solicitors make their tens of thousands of pounds in fees by creating these doubts in your head.
I think that''ll be your solution.For £179 for a Consent Order written by a solicitor what have you got to lose,believe me compared to a high street solicitor that is peanuts.This sight handles a 1/3 of uk divorces apparently now so it ain''t mickey mouse either.I''m not an employee and i''m not on commission.;)
All the best
Pete

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