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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.


Savings in my name

  • SoonToBeFree50
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26 Jun 12 #339247 by SoonToBeFree50
Topic started by SoonToBeFree50
Hello

Was wondering if anyone could help.

I''m at the stage of thinking about divorce, not done anything yet, but definitely wanting out.

I am not working at the moment, and my husband has put quite a substantial amount of money in savings accounts in my name, obviously as I have the non tax payer advantage. At present this stands at £88K. He has savings in his own name too, the ones I know about have a total of about £40K, but there are others, I don''t know the amounts of these.

My question is, would this be classed as my assets when we come to sort financial agreements out? I have some savings of my own (£35k) but £25K of that is actually money for my two children given to them by their grandparents, and I am currently looking after it for them while I decide where to invest it.

Would be grateful for any help regarding this.

Sue

  • Fiona
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26 Jun 12 #339249 by Fiona
Reply from Fiona
The value of any asset (including pensions) held in sole or joint names forms the matrimonial property to be shared.

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