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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.


What Counts as Income??

  • runningscared
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07 Aug 12 #347941 by runningscared
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I have been asked by my solicitor to submit a list of my income and outgoings. At the moment it is informal- not form E, but will be submitted to the other parties solicitor and I will get a copy of my stbx''s.

As well as my pension I get the care component of DLA which is ignored as income in other financial situations. Do I add it as income or not? For that matter, I am assuming at some point that I will have to fill in form E. Does this get included then?

Thanks if you can help. I was just about to include it but my daughter thinks that it should be ignored as it is a payment purely for care reasons.

  • Elphie
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07 Aug 12 #347958 by Elphie
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I think it means everything - I have to include everything on my income, including child benefits ( which aren''t means tested) income support and tax credits. I also have to include the child maintance that ex gives me on my income, despite the fact this amount is ignored by anything means tested, rather like your pension is ignored. don''t know if that helps?

  • James53
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07 Aug 12 #347960 by James53
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My ex''s solicitor wanted to know every last penny of child tax credits but as I pointed out weekly payments were not finalised until January of the following tax year and I objected to their inclusion because HMRC could easily demand that they were repaid.

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07 Aug 12 #347989 by runningscared
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Thank you for your replies.

Ebonyriver: I think that if you are claiming Income Support, child tax credits are taken into account as part of your Income Support ie: you are assessed as a family to need X amount per week and that could be made up of full income support or tax credits with income support making up the rest. If anyone in your family was in receipt of DLA that would not be taken into account at all.

If I was to claim income support, or in my case Pension Credit as I am now retired I would also be assessed as needing X amount per week and my DLA is totally ignored.

As I am not sure which way to go I think it best to declare it as the whole lot goes on care anyway and then some.:S

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14 Aug 12 #349463 by Elphie
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Sorry, I was comparing my child maintentence to your dla - child maintentence, as paid by my oh, is not taken into account for other financial situations. Like your dla Is not taken into account at all. . But my child maintenence is taken into account when sharing income sources for purposes of working out a fair asset split.

  • maisymoos
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14 Aug 12 #349464 by maisymoos
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All income should be declared regardless of its source.

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