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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.


ring fencing ?????

  • soobee
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24 Aug 12 #351589 by soobee
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hi what can anyone tell me bout ringfencing .me and my stbx had 25k in a joint account...he didnt want me to have any of it ...he set account up after we split...my solicitor told me i was able to have half ..so i took half out and moved it to a bank account in my name only...my stbx is now saying that 7K of this was earned by him after split and hes going to ring fence it ?????my stbx earns 77k i earn 12k...hes hidden another 50k plus....so does that mean im not intitled to any of that???? im so confused bout everything at the moment so any advice i would be very grateful to recieve:( :(

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24 Aug 12 #351592 by fairylandtime
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Hi sobee

Ring fencing is where you take away the funds & protect it from use, ie in a business you may ring fence an amount for a particular project and therefore won''t use it for anything else.

Basically, your x appears to be saying that he is taking the £7k as this was gathered after your split. However, really the £25k if before the split should be ring fenced as part of the matrimonial pot.

He would need to provide proof, what does your sols say as your x may just be trying to "scare" you with this, how far off are you from the financials?

I would collect as much information and data re accounts etc (legall of course) all this should come out in the Finacial forms but if your ex is hiding money already then you need to protect yourself.

Good luck JJx

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24 Aug 12 #351593 by cookie2
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What I can tell you about ringfencing is that it is very rare in divorce. He can''t just ringfence it because we wants to. He would have to show a very good reason to a court why it should be ringfenced.

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24 Aug 12 #351597 by survive
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Hi, I''m a bit confused about the details you have put. But, basically if you have withdrawn 7K from what was a joint account and spent it, then I very much doubt a judge would be too concerned. If its gone (on day to day, for example) then its gone!

Unless it was a real high money case or there were excess funds in the marital pot, then I also very much doubt a judge would even look at ringfencing. Money earnt, is not a good enough reason to ringfence. This would just be put into the marital pot and divided as agreed by the judge.

If money has been earnt after your split, then the bank account should have been separated or cancelled or frozen to prevent withdrawal of funds. If this hasn''t happened then I don''t feel your ex has a claim anyway. You can just say that you needed the money for bills etc.

However if you feel ex is ''hiding'' 50K, then that is another matter. If you have exchanged form E and the saving amount is not on there, then you would need to get some form of proof ''legally'' to show undisclosed amounts, as technically this could be fraud.

Survive

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24 Aug 12 #351602 by dukey
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Ring fencing does not actually exist in family law, yes a judge and only a judge can set aside assets or cash if they decide its not a matrimonial asset or it is required for a specific reason.

Your ex cannot decide to set aside anything.

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24 Aug 12 #351614 by soobee
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hi my solicitor said that everything goes into the pot.....i have proof of the money his hidden ie account no and amounts moved etc...as its all shown on bank statements thats in joint names...point is i have half of the 25k now but he doesnt know this yet...got appt with solicitor nxt thurs so hopefully we can sort things out then....as far as stbx is concerned he thinks im not intitled to any of his savings etc.....

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24 Aug 12 #351658 by soobee
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