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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.


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Inheritance

  • frednew
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13 Jan 08 #10564 by frednew
Topic started by frednew
I am the applicant on the grounds of adultery and have now separated from my wife. I am nearly 63 years of age and my wife is 50.

After we agreed to split/divorce, but 2 weeks before I took a tenancy of a flat and left the matrimonial home, a 2nd cousin of mine died unexpectedly.

I am one of 5 beneficiaries and it looks, although probabte has not yet been obtained, that I will inherit a reasonable sum.

To what extent would my wife have a claim on this inheritance?

As my wife is remaining in the matrimonila home (a property I bought before we met) and although she will have to balance this with the settlement, I will, if I wish to buy a property, have to take out a mortgage (which she will not have to do) unless I can hold on to a substantial part of the inheritance.

At 63 years of age I an loathe to have the burden of a new mortgage round my neck.

Your forum has a number of differing opinions on the rights to inheritance and any clarification would be helpful.

  • Josh2008
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13 Jan 08 #10565 by Josh2008
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The law on inheritance as an asset in the financial proceedings when getting divorced is pretty much a grey area.

What you need to do really is put everything you currently own between yourselves and split the pot 50/50, this is just the starting point.

You are 63 and she is 50, your future work prospects are far less than your spouses, and that will be taken into account, unless she has an illness that prevents her from being employed.

You need to post some more information to get a better understanding of your future financial position

Where is the Divorce taking place England & Wales or Scotland
How long living together prior to marriage
How long Married
Any Children Under 18
Is it possible that you could both 'Downsize'
Is the inheritance significant
Have either of you got private/company pensions
What earning capacity you both currently have
What is your future earning capacity

Post up some more information and people on here can give you a better idea of how you will stand, although nothing is clear cut

  • attilladahun
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13 Jan 08 #10578 by attilladahun
Reply from attilladahun
It is relevant as a "resource"

It is not automatically in the "pot" as matrimonial capital but

if it is a s 25 MCA 1973 case ie need the Court will know you have that capital available eg to meet housing needs so W may get a little more capital from mat pot but only if her needs dictate this.

A proper answer can only be given when all the facts re the marriage are looked at ..........

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