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Read our latest Financial Settlements guide (2021)

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.

Calculating ''needs''

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Cheeseandpickled
Posted by
Junior Member

21 Aug 12 #350926 by Cheeseandpickled

Topic started by Cheeseandpickled

My wife and I have always had a joint account since marrying. All expenses, mortgage payments, insurace, bils and running costs have been paid from this account.

When entering figures into Divorce Calculators to get an idea of the future financial position I may have and what I can afford, how should I best enter figures for current outgoings? Should I split everything equally even though there is a large difference between our earnings?

Is the fact that everything currently is paid from a joint account irrelevant and I just estimate what I believe I will need for the future?

Tets
Moderator

21 Aug 12 #350935 by Tets

Reply from Tets

You need to estimate what you believe you will need. There is a template here to help you.

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