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duxbury

  • ALEXANDER
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28 Jun 07 #1053 by ALEXANDER
Topic started by ALEXANDER
can someone explain duxbury to me ..we are both 53 ..i am not working , my husband has a good job and pension. i don`t have a pension .we have a fourteen year old son.

see fair and equitable unedr the child section for more info.

how could the duxbury rule affest me ...i understood it was just a srarting point but my husband thinks it is much more specific...he expects a Clean Break with no recourse to his pensions or companies..or at best a 50/50 split on assets minus pension rights.

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28 Jun 07 #1056 by wikivorce team
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Alexander,

I have replied to your other post and have indicated that the current offer may not be favourable.

In very simple terms - Duxbury is a case that set a commonly used precedent and a formula for settling cases by awarding a capital lump sum that the recipient then uses over their lifetime to live on.

Each year they spend some of the capital - so it gets lower. However, each year the capital also earns interest which is added to the capital.

A set of equations help solicitors to work out how much capaital someone needs to see them through their life.

Obviously the key factors in determining how big a lump sum is needed are: an estimate of life expectancy, predicted future interest rates, and the amount the recipient needs to live each year.

The idea is that the capital decreases each year and is used up by the end of the recipients life.

  • maggie
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28 Jun 07 #1059 by maggie
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What stage are you at Alexander?
Has either of you petitioned for divorce?
Have you exchanged form E - financial disclosure?

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28 Jun 07 #1062 by ALEXANDER
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no because i have been trying to get my husband to sit round the table and discuss possible alternatives to his proposal. i am trying to get my facts straight first. he has taken legal advice and so have i once ..but i need to clarify issues...does duxbury Clean Break cover till i am retired at 64?,can he really say my involvement with the companies counts for nothing except the 10% reduced by him from 20% last year to give to another director in the event of sale which could put the company value at 1.2/2m should it ever happen..of course it might not, is the pension something to be dealt with sepatare to assets...with no income in the forseeable future no pension and being told i am taking the shirt off his back i am very worried.

he does not want to get solicitors involved based on his last divorce experience..

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28 Jun 07 #1066 by maggie
Reply from maggie
If I were you I'd download form E from the UK Courts website and go through it with him - divide all assets 50/50 and calculate your income needs - it will concentrate his mind wonderfully- all in the interests of a fair outcome for all of you of course

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28 Jun 07 #1067 by maggie
Reply from maggie
PS
The pension CETV goes into the pot and is divided as capital

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