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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.


Financial Entitlement

  • InnerPeace
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02 Oct 12 #358828 by InnerPeace
Topic started by InnerPeace
Evening All

Can anyone please tell me what I am entitled for?

- Husband is Self Employed with Very Big Telecom firm; earns £475 per day; though he has declared only £9k as his income to CSA for 2011-2012 tax year
- Me-Self employed; contract ends in Jan 2013; earns £400 per day

Married for = 7 years

Child
1 x Son; 3 years; I have interim residence Order. STBX applied for shared residence but wants me to be the day to day carer. FDR scheduled for Nov 2012

Maintenance
- Currently pay''s no maintenance / no mortgage which is 1200 pm, though its a joint property, 3 big double bedroom house.
- Our child goes to private nursery and we had agreed to send him for Private schoolings. STBX not paying single penny since he moved out in June 2012

Asset
- 3 big double bedroom mid-terrace house, equity of £50K
- Volvo V70 bought for £14k in 2012, which he forcefully took from home and now drives with his mistress and left me old astra to drive our 3 year old in.
- Astra, sale price £1k

- My savings is 0
- His savings dont know.
- Child - HISA = 5K (mine for our child)
- He took Dividend of 20K in April and transferred to our joint a/c and we had agreed to transfer 2k to principal pymt on Mortgage; 3K to HISA; 3 K in regular mortgage payment from April-June 2012; 2K in parking lot creation; £2200 for his lavish hotel stay ;1 K for his mistress and his shopping for 2 months; I spent 8k from April to September ( 6 months ) on Mortgage payment / child maintenance / nursery education / groceries / bill payment / petrol etc
-No debt
- He has pension from New International but I am not interested in his pension, all i need is freedom from him and to be able to begin my life with my child and myself.

STBX
-Rents with his mistress, so has benefit of her income. He hasnt disclosed to anyone that he is having an affair as both of them work in the same team, she reports to him now.
- Though he has asked court not to disclose his address which I find funny and ironic that court granted him to hide his love affair.
-I have letter from his solicitor that he will sign the Divorce letter if I Petition him for Adultry, however 2 weeks later i get his petition from court on UB ground?? No draft sent no reason provided why he did that and he wants me to pay the cost if I defend.

Decree Nisi pending / I responded to his petion on 1 Sept 2012
- No communication between him and I, all to go via Solicitor.
- I have paid £9K + in 2 months, for Non-Mol for domestic violence against my husband/ hearings henceforth / undertaking Consent Order.

- I dont know why he hasnt applied for any finance settlement
-what shall I do? I dont want DA to be granted till Finance is settled, do u think since no pension issue is there can it be granted?
- Also what am i entitled for please in financial settlement?

  • InnerPeace
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02 Oct 12 #358829 by InnerPeace
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Forgot to add o ur Age; STBX and I = 31 years old

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02 Oct 12 #358956 by InnerPeace
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Is there no one who can answer me? This is my 3rd post and no feedback :(

  • WYSPECIAL
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02 Oct 12 #358960 by WYSPECIAL
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Other than the £50k equity in the house what other assets are there?

Are you living in the house? If so then it is normal for you to pay the mortgage and since from what you are saying you earn in excess of £100k per annum you can afford to.

Since you are a high earner it is unlikely you will get spousal maintenance. Is your s2bx paying CM?

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02 Oct 12 #358968 by InnerPeace
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Thanks WYSPECIAL, it is nice to know someone is there to answer.

Asset
- 2 x Cars: Volvo V70 (£14K value, he drives)and Vauxhall Astra £1K value, I drive)
- House: I want to sell the house and stay in a flat. I feel I am being forced to live in FMH and pay mortgage in the house. I can get rented accomodation for £800 which I would much prefer.

Maintenance
- I dont want Spousal Maintenance from him.
- I just want him to pay only 1 x month private school fee for our child when I am between jobs, if that happens.
I dont know if this 1 month school fee comes under spousal maintenance

- He pays no child maintenance
- Since we are both self-employed, and he took £9K dividend in financial year 2011-2012, CSA is bound to go by only that figure, so if and when CSA decides how much he has to pay, it will be very very less.

- Please let me know whether I should ask his solicitor a financial proposal from his side? As I havent heard anything about finance from his solicitor, we have been going to court over child matters and its been 1 month since i returned Divorce acknowledgement.
I am worried why he hasnt send any financial proposal to me for our child and me?

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02 Oct 12 #359006 by InnerPeace
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any update please :(

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02 Oct 12 #359020 by survive
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Hi, DA can be delayed until Ancillary Relief has been sorted. If you both have solicitors then you can make an application for ancillary relief to try and resolve the finances.

You could try and agree something between solicitors to save the costs of going via a court route which would save thousands for you both.

You would both need to complete a form E which is a detailed analysis of income,outgoings,assetts,pensions etc

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