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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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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.


Inheritance

  • Exoticmale
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13 Jan 08 #10587 by Exoticmale
Topic started by Exoticmale
My wife's parents are farmers. She wants to divorce me for 50% of my hard earned wealth! Her parents are farmers with huge amounts of land. The farm is in trust --and my wife has a share in the property. Will I be able to claim 50% of her share if she wants 50% of my share?? I would be happier if split without any financial handovers--as she will be worse off. I am not keen on taking anyone's money

  • mike62
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13 Jan 08 #10592 by mike62
Reply from mike62
Exoticmale,

There are almost as many outcomes of divorce as there are divorces. So many different factors to take into account.

You need to post a few more specifics up for someone to give you a sensible assessment of the likely outcome.

How long married
Any children involved on either side
How old are children (Are they under 19?)
How much are your respective properties / land worth?
What outstanding loans / mortgages are there?
Is there any individual or joint debt?
Do either parties or their direct dependants have any special needs or disabilities?
What are the incomes of the two parties?
Are there any investments, savings, pensions or other significant assets over £500?

Rule of thumb - short marriage (12 months to 2-3 years) both parties take out what theuy put in, sharing any profit or loss accumulated during the period of the marriage
Long marriage (10 years or so) - assets are added up, liabilities are deducted and the 'marital pot' is split 50:50, assuming both parties have similar incomes and similar future earnings potential, pensions assets and their housing and dependant's housing and / or special needs met.

THe split will vary according to how disdvantaged one or other party is by the split. It can be from 50:50 to 90:10, dependant on circumstances.

post a bit more info ansd someone will give you a sensible guesstimate (Nothing is ever set in stone in this funny divorce world)

Best of luck

Mike

  • Fiona
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13 Jan 08 #10599 by Fiona
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In the case of White V White it was established that property acquired during the marriage by one spouse as a beneficiary under a trust is treated differently from matrimonial property. If the property is separate from the family finances, the spouse to whom it was given may be allowed to keep it unless there aren't sufficient other resources to meet the other party's needs.

The nature and value of the property, and the time when and circumstances in which the property was acquired, are among the relevant matters to be considered.

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