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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.


Increased earnings

  • Johnny5
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22 Feb 22 #518910 by Johnny5
Topic started by Johnny5
After a wait of five years I intend to get my devorce and finances sorted out this year
Up until now we have both been earning around the same doing part time jobs she has been paying the mortgage and remains in the house I have been living in rented accommodation with my new partner.
I have now managed to get myself a full time job so my earning will increase from £10.500 a year to £24.200 a year how much will this affect my case when obtaining a concent order etc. ?

  • hadenoughnow
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23 Feb 22 #518918 by hadenoughnow
Reply from hadenoughnow
The key will be whether your respective needs can be met from the capital assets. So can you each be suitably housed from the equity of the house and any other cash assets you have? If you earn more and can get a mortgage that may be a reason for your ex having a bit more capital if that's the only way to meet her needs.
If she's lived independently for five years she doesn't need spousal maintenance.

Hadenoughnow

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24 Feb 22 #518920 by Johnny5
Reply from Johnny5
We are both 59 this year so either of us needing money to get a mortgage is more or less out of the question
She gas been in the house for 5 years paying a small mortgage of around 400 a month while I have been renting with my new partner at 800 a month
4 years ago my solicitor said it would be a 50/50 split on the house that being the only real asset I just wondered with my increased earnings and the fact I live with someone who also works full time how much that may effect the outcome of a concent order ?

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