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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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Let''s Get It Over With!

  • Palermo
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29 Apr 12 #327129 by Palermo
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I was prepared for getting screwed over and I have no issue in paying for the maintenance of my kids, even beyond 18.

On one hand I''m told it will be anywhere between a 60-40 or 70-30 split and on the other I''m told I won''t get a share of the equity until 18. confused.com.

I just hope she agrees to the terms if not I''ll just have to deal with the consequences.
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  • MrsMathsisfun
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29 Apr 12 #327133 by MrsMathsisfun
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A lot is made of assets being split by a particular ratio on this site but actually that isnt really how it works.

Each case is different and based on the ''needs of each party''''.

The needs of the children weigh the highest. If there are enough assets for the house to be sold and then the children re homed somewhere appropriate then that is what happens.

if there isnt enough assets and the Rp can afford (i.e pay for the mortgage bills etc) to remain in the FMH then it might be appropriate to postpone the sell of the FMH until the youngest is 18. The equity is often split 60/40 in this situation to reflect that the RP has paid for the mortgage since the split.

You will need to look at the whole financial situation to see what might happen in your case.
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  • pixy
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29 Apr 12 #327135 by pixy
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If you are actually doing most of the caring then you should start collecting the evidence in order to make a case to be the primary carer for the cildren which means you rather than your stbx share the children''s housing priority.

Do you really both only have an income of £4,000 a year or have you missed a nought, omitted benefits?
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  • Palermo
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29 Apr 12 #327136 by Palermo
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Isn''t it out of my hands? The Petitioner cannot afford to remain in the home i.e. she cannot afford to pay the bills. If she wants a share of the equity and doesn''t want to wait 10 years until our youngest son is 18 isn''t it in her best interests to come to terms over a split? I would hope her solicitor has made her aware of this!
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  • Palermo
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29 Apr 12 #327137 by Palermo
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pixy wrote:

If you are actually doing most of the caring then you should start collecting the evidence in order to make a case to be the primary carer for the cildren which means you rather than your stbx share the children''s housing priority.

Do you really both only have an income of £4,000 a year or have you missed a nought, omitted benefits?


£4000 doesn''t include benefits. She gets CTC I get WFTC. I WAS successfully self employed, paid a 20% deposit on the house, but my business went down the toilet and that''s why I started studying. We both want to move on and move on quickly. I don''t do most of the caring, I do maybe 40%.
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  • Palermo
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29 Apr 12 #327178 by Palermo
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I called the helpline and was told IF she doesn''t want a share of the equity at this stage and wants to remain in the home the courts are likely to allow her to stay and I''ll have to move out and most probably wouldn''t get a share of the equity until our youngest son is 18, in 10 years time. Awesome.
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  • hadenoughnow
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29 Apr 12 #327195 by hadenoughnow
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It is the needs of the children - and the parent with care that come first in a situation like this.

If you are intending to remarry then you will be living in a 2 income household and she will have just one (plus CM, tax credits etc).

If she cannot afford to stay in the home then where can she afford to live?

Hadenoughnow
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