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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.

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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.


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let me introduce myself

  • MeToo
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29 Feb 08 #15367 by MeToo
Topic started by MeToo
hello, I thought it would be rude to start asking questions on here without introducing myself first:)

I have been married for over 30 years with two grown up children. Our daughter is 25, works and lives with me in the MH. Our son is at university and lives most of the time in the house he rents there. After 5 years of increasingly separate lives, my wife moved out of our home a little over 2 years ago and now rents somewhere else in the town.

We are about to start the process of divorce based on 2 years separation. We are planning an amicable divorce and have agreed on the division of our assets (and there are some questions relating to this that I will ask later); the major assets are the MH and my pension. We both want a Clean Break. We are hoping to do this without involving solicitors, either DIY or using an internet service, preferably DIY to keep the costs as low as possible which means we keep more of our money between us. I know this seems to place me in a different situation from most of the posters on this board - amicable, agreement and divorce don't seem to go together in the same sentence on here.

That's a summary of my situation; as I said I will be asking some questions in other parts of the board later but I just wanted to say hello.

  • Exasperated
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29 Feb 08 #15395 by Exasperated
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You are lucky there, I hope it stays that way ! I was not so lucky as my wife (or her solicitor) wants everything.
I have posted my situation but may have put to much information too early??
Does your wife have a job, how much does she earn compared to you, does she have a pension?
How much equity will you have in the house and if you divide this equally is it enough to put down as a large deposit on your own respective houses and each afford to pay mortgage on what is left?
What about your pension, what is it worth to you? are you willing to share it if your wife has non?
Sorry but questions relate to the answers.

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01 Mar 08 #15445 by MeToo
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Having read through some of the other posts on here, I certainly do feel I am lucky.

My wife does work full-time now and earns about half of what I do but didn't work while the children were growing up then worked part-time until the younger one left school.

I have a pension from my previous job and we both have pensions from our current jobs. What we have agreed is that we will split the previous pension 50/50 and each keep our current ones to ourselves.

The mortgage is paid off and my share of the house's value will leave me looking to take out a mortgage of about £100K+ to buy somewhere around this area which is going to be a struggle to be honest.

Although there were some disagreements about how things were shared, most of it was OK and I conceded on some because the cost of arguing was much higher than the amounts we were arguing about.

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07 Mar 08 #16111 by Exasperated
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Hello MeToo, Sorry for the delay,
What have you decided for the split in the equity on your house? is it 50/50? If so and you say you will be struggling on a new mortgage, then your wife certainly will be on half your wage, just something to consider. What is your current salary?

Do your current pensions have approx the same cash equivalent transfer value? if so it seems fair the way you are proposing to settle that side of things.

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