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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.


Possible settlement?

  • jahlucian
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05 Sep 12 #354061 by jahlucian
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Hi could somebody try and advise me in what the possible financial settlements could be, I know its difficult so I''ll try to give as much info as possible. I''m only at the beginning stages (currently waiting for the draft if the petition) but would like to get a better understanding...

Your respective ages; me-25 him-42

The number of children you have and their ages; three aged 16wks, 20months 4.5yrs

How many nights the children spend with each parent; 2 weekends a month with him

The length of your marriage and any period of pre marriage cohabitation; marriage 11months, co-hab 2yrs, relationship 3

Your respective incomes; me-currently awaiting benefits but voluntary maintenance of 1500. Him - 150k basic + annual bonus

Your respective outgoings; he pays mortgage 1400 and bills I cover all living expenses for myself and children, clothes food, school dinners...

Your assets - both soley held and joint; no joint assests him - 2cars, house valued at 480k (so I''m told but purchased at 540k), 200k on mortgage, owned by him prior to marriage with a 300k deposit, company pension and alternative accom (2 bed house bought outright by his mum). No debts and 38k savings.

He has offered 10k settlement, family car and CSA value of 25% of his basic, so about 1750. He''s asked that I make no claim on house or equity and that I don''t request child maintenance from his bonus (44k thus year) and no claim on pension. He''s asked that me and the children move into rented accom, he will finance deposit, first months rent whilst I''m assessed for hb....

Sorry long winded but I thought more info was better! Many thanks in advance.

  • dukey
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06 Sep 12 #354134 by dukey
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10k and CM, no asset share or pension bonus share.

Where will you live?.

He is in for the shock of his life.

How many of the children are his, i note one is 4.5 but you were only together 3 years.

Get a solicitor if you don`t have one, if your not sure where to find one call the wiki line, don`t just walk into a high street solicitors though you need someone who deals with this specifically.

Your entitlement will be huge.

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06 Sep 12 #354138 by jahlucian
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He wants us to rent privately but apply to apply for hb income support... The eldest isn''t bio his but we completed step parent adoption. I have found a solicitor but because I''m likely to go onto financial aid soon I feel like I''ve been palmed off onto their least experienced solicitor - she only qualified last year. But despite that its not small numbers involved so I feel somebody with more experience maybe better suited. Thank you for replying, I''m really at a loss of whas fair and with a newborn and two other young children I''m spread rather thin!

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06 Sep 12 #354143 by dukey
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Your entitlement will be,

A home for you and the children, this may well be the marital home - don`t even think of moving out, the childrens needs come before all else.

You can`t work with three kids their age so you will need an income, CM is a start but do you need more, if you do then it will be paid as Spousal Maintenance, this is money he must pay to you monthly so you can live, how much depends on your reasonable need, he can afford it there is no question of that.

A pension share is much less important right now, your very young, but it still forms part of the pot of marital assets and will be a consideration.

I take it you have legal aid, and a very new solicitor, i would be trying to find an experienced solicitors used to dealing with this, i know sols have to learn but this is your future here.

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06 Sep 12 #354159 by jahlucian
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My ex''s life revolves around finances - he works in banking.

The sol made a suggestion that I put to him - CM of both his basic andannual bonus, one of the cars and that me and th children remain in the matrimonial home until they finish education and at that time he either buys me out or we sell the house. He flat out refused!

In hindsight he agrees that 10k isn''t fair so has asked me to state a value I''d be happy with.

I feel like he''s playing Mr nice guy so that it doesn''t go to court and so he can get away with the bare minimum. He''s also really rushing things. I''m still waiting to see the draft of the Petition but he''s stating he wants a financial settlement agreed by the 24th, when he starts his new job as he says all the worrying will cause to much of a distraction at an important time for him.... My head is spinning!

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06 Sep 12 #354163 by dukey
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What your solicitor suggests is not unreasonable, its on the low side but acceptable.

Even if he wants you to agree a financial settlement you can`t have it formalised until you get to the half way stage of divorce, the Decree Nisi.

Don`t be pushed into an agreement, listen to the solicitor, and know this, it does not matter what he wants or demands, says you can and can`t have, its the law that matters, if he refuses to put his big boy pants on and talk sense then you can move this to court and they will make him understand what is fair, if he refuses to listen to the judge the judge will make an order whether he likes it or not.

  • maisymoos
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06 Sep 12 #354165 by maisymoos
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By the 24th Sept 2012?? think he needs his head seeing to. Do not feel pressured, do not move from marital home and do not agree anything without advice from a good family solicitor. If this does go to court he could be looking at 18 months plus before things are sorted!! He sounds very much like my ex if he can get away with it he will. Have you both provided financial disclosure yet?

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