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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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Periodic Payments

  • projectguy
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20 Jan 08 #11245 by projectguy
Topic started by projectguy
Im divorced and pay £ 6500 per year in periodic payments to my ex for another 2 1/2 yrs.
Recently she has demostrated apparent large increase in capital by purchasing a much bigger home without selling existing. Job and income appears to be same.
is it worthwhile my seeking to establish whether she has received a large lump sum ( probably from family) and if she has what are chances of having my payments zeroed?

Cheers

  • Josh2008
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20 Jan 08 #11251 by Josh2008
Reply from Josh2008
If the payments are just spousal then before applying to the courts try and find out where the sudden wealth has come from

Once you establish that, you can apply for a review but I have seen other posts on here stating that it can cost £3k to £6k to pursue

As you only have another 2 1/2 years left, will it be worth it


Good Luck

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20 Jan 08 #11272 by projectguy
Reply from projectguy
thanks that was really helpful advice

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20 Jan 08 #11285 by attilladahun
Reply from attilladahun
When the new house is registered at HM Land Reg you could apply for a copy of spouse's mortgage deed filed. The Office Copy entries at HMLR will give the Purchase Price so it is likely the balance was capital.....

Then send a letter to Ex asking for proof of her inc and cap inc inc from capital assets eg Rents......

Remember Court cannot backdate an application for maintenance variation so give her 14 days to supply proof pointing out that in the absence of her co operation you will be obliged to apply for a variation.

The Court has a principle now of no costs between parties unless parties act unreasonably so you are not really at risk if Ex doesn't co-operate.

In alternative suggest you and Ex agree to see a Mediator and make an appointment within 14 days or you apply to Court.

Personally I would apply and then adjourn for mediation cos if ultimately Crt agrees a reduction the caourt CAN backdate variation to date of application BUT NOT earlier.

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21 Jan 08 #11308 by projectguy
Reply from projectguy
Thanks

Might anyone know if I can serve the court notice myself or should i use a lawyer, and where do I get the form to complete

Cheers PG

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21 Jan 08 #11322 by Josh2008
Reply from Josh2008
Projectguy - Apologies First

My first post was actually trying to be helpful, in terms of a variation and the length of time left on the order.

Pursuing a variation can be costly and without sufficient knowledge of what the likely outcome was going to be, I took the principal that if you had £6.5k p.a. over the next 2 1/2 years that represented £16.25k

With that in mind and an assumption that you can obtain a reduction of between Nil and 100%, I took a mean average, which is circa £8.12k, on that basis it would be prudent to enquire as to the likely cost of a full blown variation

Some people on here have indicated costs of £3k to £6k...

Apologies for not exactly explaining my thoughts on the maths

You could pursue the matter yourself, without the assistance of a solicitor and therefore costs would be significantly reduced.

Below is a hyperlink to the courts on-line forms and specifically the form needed to apply for a variation?

www.hmcourts-service.gov.uk

www.hmcourts-service.gov.uk/courtfinder/forms/fl403_1202.pdf

Best regards and good luck

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21 Jan 08 #11330 by projectguy
Reply from projectguy
Hi Josh 2008,

Thanks this was very helpful, and sets out my options clearly.

Kind Regards
PG

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