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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.


Spousal maintanence

  • pdm
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15 Aug 12 #349604 by pdm
Topic started by pdm
I''d like to know what level, or how much I will need to give my ex-wife.
We were partners in an architectural practice that lost £20K last year.
I''m 48, she''s 47.
The average income to the practice last year was £9600/month in gross fees but the outgoings higher, hence the loss at year end.
I''m still trading, but business is slow.
I''m now a limited company.
My wife is not qualified and has been a homemaker, so her capacity to earn is low, I would surmise.

Any advice on how I can get a real handle on the costs, please.
I understand child maintenance is 15% of my netted income after my living expenses as the non resident parent.

OR
Is there a spreadsheet calculator available.

  • maisymoos
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15 Aug 12 #349612 by maisymoos
Reply from maisymoos
child maintenance for one child is 15% of net income less deduction for overnight stays. Percentage increases for more children. Go on to the CSA website they have a calculator to allow you work out how much you will need to pay.

I am not sure where you got the "less living expenses from" - That is not the case.

Spousal Maintenance is paid on the basis of need and affordability. If the money is not there it is unlikely SM would be payable, although a nominal sum may be relevant say £1 per month which would leave the option to apply for a variation should either of your financials situations change in the future.

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