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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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Finance parts

  • mr_nice
  • mr_nice's Avatar Posted by
  • Junior Member
  • Junior Member
13 Feb 08 #13727 by mr_nice
Topic started by mr_nice
Just another question ...
Will it work that the assests are split 60/40, 70/30 or whatever, then the next element is the CM of 20% of my salary. On top of this am I still expected to make a payment to my ex wife for her needs ??? or is this included in the above figures

  • Mrs Ingledew
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13 Feb 08 #13731 by Mrs Ingledew
Reply from Mrs Ingledew
It depends on circumstances.

If I have got this wrong I am sure someone will correct me.

In a marriage of any significant length - say 5 years :-

the assets are initally split 50:50
this split then changes depending on whether there are children - I was told my solicitor to look for up to 85%.

If you are going for a Clean Break a lump sum may need to be paid to the lower earning spouse to enable them to start up again. Or spousal maintenance may be awarded to help the other party live.

The children are dealt with separately and 2 children are 20% of net salary.
This continues until they are 18 or 19 if in fulltime education.

  • Vail
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13 Feb 08 #13735 by Vail
Reply from Vail

Taylr14 hits the nail on the head; it all depends on individual circumstances. The 50:50 split is the 'yardstick of equality' and the idea is both parties get half of the assets adjusted as necessary so as not to cause either of them undue hardship.

In the usual case of the wife and mother having primary care of the children and there not being enough capital to split evenly at the time of the divorce without causing undue hardship, the capital split is topped up by 'spousal maintenance' from the party that has the opportunity to recover from court-induced penury; ie the father. This spousal maintenance has nothing to do with child maintenance.

Child maintenance is beyond the power of the court and as such it would be prudent to ensure that it and the spousal maintenance are kept as two separate amounts and clearly defined in any negotiations.

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