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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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When in the divorce are finances split?

  • mick_dan
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08 Jul 07 #1235 by mick_dan
Topic started by mick_dan
I am currently at the beginning of divorce proceedings, and will be doing an online one, we are being amicable about it all and splitting 50/50, what I would like to know is when are the finances split?

Basically I have some bonuses coming up in a few months and my wife also has share options coming out too, I am not bothered about them but would like to kinda start saving again on my own for my new future and not end up paying her half of everything in months to come, like say I do a big job (as do some freelance) and then have to pay half, when we are already getting divorced, otherwise I would prefer to just do no more extra work etc and wait til final.

Thanks

  • DownButNotOut
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09 Jul 07 #1254 by DownButNotOut
Reply from DownButNotOut
Mick Dan,

If you are doing an online amicable agreement then I assume that this is being written up as a Consent Order which you will agree between you and that the court will then approve.

The answer to "when is the split done?"... is that you can agree and define that in the Consent Order.

The slight complication is that a few months can elapse between you agreeing the split and it being drafted by sols and ratified by the court.

So you need to do just what you have done which is to think about monies that each of you expect to receive in the coming few months and to agree in advance how these will be split. So if you agree now that you keep the bonus and she keeps the share option profits - thats fine.

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