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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.


advice needed re split of assets

  • soobee
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26 Jun 12 #339204 by soobee
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hi im trying to work out a fair split of assets without going to court(although i do feel this is where its going to end up due to stbx not being honest about finances)will give details of all assets
FMH worth 275k
morg 82k
savings 100k more might be hidden by him
pension 110k him(FINAL SALARY)
me none
married over 25yrs
earnings him 60k
me 12k
ideally i would like to retain FMH so was going to suggest the following
i keep house and offset pension and sm agaisnt this..
he keeps 40k me 60k this would enable me to reduce morg to 60k(the most i can get)plus pay off legal fees and use excess to help pay towards morg for up to 4yrs in order to give me time to find another job and increase earings ????...there are no dependents as kids all over 21yrs ..he wants Clean Break...his girlfreind has her own house...so think he would end up moving in with her asap....any views would be gratefully recieved :(

  • maisymoos
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26 Jun 12 #339212 by maisymoos
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Hiya Soobee

Just a couple of thoughts and some more info needed

How old are you both?

Are you working full or part time. Are you sure you can afford to take on a mortgage?

How big is the house in which you live?

Do you think your ex will agree to you offsetting nearly all the cash assets against pension and SM? I worry also that this could leave you in a difficult situation affording to live on a day to day basis now and into retirement.

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26 Jun 12 #339215 by soobee
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hi im 47yrs hes 49yrs
i work fulltime
i will have to take on a morg either way in order to rehouse myself weather i take on FMH or its sold etc...to buy a decent place here (not going ott ie two up two down with garden )im looking at around 190k to 210k
thought it better option for him as he wants Clean Break? FMH is 3beds kids still living here at the moment.....not sure if he would go for this as it was brought up in mediation....he didnt go for it then mind you mediator was looking at giving me more of the cash assets ....problem i have is he can easy afford another good mort and home...hes always not wanted me to touch his pension and this way he gets to keep it....hope this info helps..????

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26 Jun 12 #339216 by maisymoos
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Do your children work? Do they contribute to the household expenditure?

It seems keeping the FMH would be stretching yourself considerably even if your stbx agreed to you having the majority of cash assets, which it doesn''t sound like he will?

Whats your stbx proposal for a Clean Break?

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26 Jun 12 #339220 by soobee
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hi yes children all work and pay towards bills etc....under what he wants to give i would still have to get morg of up to 60k in order to re house and pay legal bills ...stbx wants 50/50 split on equity and savings ...no pension sharing order and no SM.....:(:(

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26 Jun 12 #339223 by maisymoos
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I think he is a bit optimistic!!!

A 50/50 split on assets possibly but also at least a 50/50 split on pension (it could be argued that you get more as he has more potential to rebuild his)and a very high chance that you would be awarded some SM for a few years due to the difference in incomes/earning capacity.

There is negiotiation here that you get more cash/equity in exchange for the pension and SM, but I am still concerned will you be able to afford to live, especially once the children leave home?

  • livinginhope
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26 Jun 12 #339226 by livinginhope
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This doesn''t seem a fair split to me as I think it would leave you in a very perilous position.I really think you need to look ahead and protect your future.Pensionable age may seem a long time away but you can''t ignore it.You need to have some Pension in place and you won''t have time to build up a reasonable one by yourself.In my opinion you definitely need pension sharing in place.
Don''t be in too much of a rush to agree to something that you would probably live to regret.

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