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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.


Redundancy once divorced & Consent order signed

  • helpme5858
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14 Aug 12 #349407 by helpme5858
Topic started by helpme5858
I have been divorced for just over a year. A Consent Order was also completed at the time and when all assets were added up my ex came away with over 60%. ( £165,000 more than me)
We have two children who have now left home and are over 20. My ex has since re married.
I am 54 years old and it look like I may be made redundant in the next year. My payout will be approx £80,000 after tax, although not likely to get another job that pays me as much. Can anyone confirm that I will not have to give my ex any of my redundancy payout. The settlement did not mention this.

  • dukey
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14 Aug 12 #349409 by dukey
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If you have a court sealed Consent Order your safe, this is the idea of orders to separate you both once and for all.

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14 Aug 12 #349410 by cookie2
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If you have a Consent Order that has been put through court then your payout is safe.

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14 Aug 12 #349411 by somuch2know2
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How does it affect child support? I am also in a similar situation and having to pay SM and child support. Hoping to get a new job soon, but am sure the pay will be slightly less. The money I get will clear all the marital debt I had to take on but there will be nothing left for anything else

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14 Aug 12 #349418 by helpme5858
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Thanks for your help. I hoped that was the answer

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14 Aug 12 #349419 by cookie2
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CSA is dependent on income and is quite easy to vary when your income changes. So if you are currently out of work you can contact the CSA to get it varied. And when you re-start you can contact them and it will apply at your new level.

SM however is a very different kettle of fish. If your ex is not cooperative then it is extremely hard, expensive and time consuming to vary SM. If you simply stop paying then your ex could take court action for enforcement, even if you don''t have any income. You are obliged to pay SM until a court makes a variation, whether you have an income or not. It''s a stupidly bad system.

The lump sum, if it''s spent to pay off debts, then it''s gone. Obviously she can''t get any of it if it''s gone.

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14 Aug 12 #349426 by somuch2know2
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Thanks cookie
i think things should be okay- but its all very stressful.. Either it will be the biggest break of my life, or it will break me.

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