A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

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.


settlement

  • hiccup
  • hiccup's Avatar Posted by
  • Junior Member
  • Junior Member
More
19 Mar 08 #17173 by hiccup
Topic started by hiccup
Hi there,
Some time I posted on here and thought I had managed to resolve all problems through a Mediator. I was persuaded to accept a lower valuation on the property to make the figures look right, "big mistake".
It will be easier to give the figures below.

When we met
Wife had 140k plus 9k pension lump sum.

I had an inheritance of 82k in Dollars from the states, 23k in sterling plus 9kpension lump sum.
I was notified of the inheritance before the marriage but received the cheque after I was married. My Solicitor says that it has to be included in the figure because of that.

We bought a house for 145k mostly with her money and about 30k of my sterling Tennants in common. Its now worth 185k

Over the past 3/4 years I have put everything I earned into the place and paid 90% of the bills. I have turned the dollars into cash at a good exchange rate by the skin of my teeth..

My ex wants me to take £116,640 and go away because she says thats all she can raise lol.
She comes from a stock market family and will in the not too distant future be getting a 100k inheritance yet she wants to short change me...
My solicitor wants me to go to court as does my ex wifes wants her to do the same. My inner senses are outraged bur can anyone tell me if the fight is worth it because I really dont know.
One last question I would like to ask. Is it normal for Solicitors to take two weeks to reply to each other. My Solicitor says its not in her control. Sounds odd to me.

Thankyou to anyone who can give an opinion.:dry:

  • Specialdad
  • Specialdad's Avatar
  • Platinum Member
  • Platinum Member
More
19 Mar 08 #17186 by Specialdad
Reply from Specialdad
50% of net assests is a good starting point.

Two weeks for a sol to reply is quick by their standards.

Take the £116k and run mate. The sols will take £50k if you fight over the assets.

  • Young again
  • Young again's Avatar
  • Platinum Member
  • Platinum Member
More
20 Mar 08 #17257 by Young again
Reply from Young again
Hiccup,

Two weeks for solicitors to write to each other is evidence that you are on the back-burner. Every fortnight they'll get your file out and read it just to make sure they understand your position and the details so they don't make a silly mistake.

The trouble is that as time goes by they would have read and re-read your growing file a few dozen times and you'd have paid for all of that. It is not efficient and it is costly.

If at all possible try to agree with your xtb to keep communication between solicitors down to the absolute minimum by maximising communication between yourselves.

Regarding court: count on about two years and £15k/hearing and £25k for the final one if there's acrimony. The more you two talk to each other the less will leave the joint total pot and the better off you'd both be.

  • hiccup
  • hiccup's Avatar Posted by
  • Junior Member
  • Junior Member
More
20 Mar 08 #17264 by hiccup
Reply from hiccup
I thank you for your replies. I suppose I have to think myself lucky that I walk away with whats offered. The arguing is over an extra 5k.
I think that her Solicitors are bluffing as my wife would have to pay it back in instalments. I dont think she could afford it to be honest and has to ge an equity release to raise part of my funds already. Mmmm could it be a bluff and could I agree at the eleventh hour to whats on offer.
Feeling conned.

  • juttabeck
  • juttabeck's Avatar
  • Premium Member
  • Premium Member
More
20 Mar 08 #17271 by juttabeck
Reply from juttabeck
bear in mind the cost of solicitors when arguing over relatively small amounts of money - you would be amazed at how quickly a £5k legal bill will clock up!

  • juttabeck
  • juttabeck's Avatar
  • Premium Member
  • Premium Member
More
20 Mar 08 #17272 by juttabeck
Reply from juttabeck
bear in mind the cost of solicitors when arguing over relatively small amounts of money - you would be amazed at how quickly a £5k legal bill will clock up!

  • juttabeck
  • juttabeck's Avatar
  • Premium Member
  • Premium Member
More
20 Mar 08 #17273 by juttabeck
Reply from juttabeck
bear in mind the cost of solicitors when arguing over relatively small amounts of money - you would be amazed at how quickly a £5k legal bill will clock up!

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11