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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.


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.


Boy do I need some help!

  • BWA
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10 Aug 07 #1862 by BWA
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Hi
I do hope somebody has some reasonable advise for me.... Been married 10 years... getting divorced for over a year :(with the finances taking most of this time... two children who will live with my ex, no issues on maintenance or visiting rights just over the financials as follows

1, my solicitor started with suggesting we offer a percentage of 75% of the capital from the sale of the house (approx £160k) with a 'charge back' to be recovered on sale, remarry etc of 25%, since my wifes solicitor rebuffed the proposal my solicitor has dropped the idea.... can anyone advise are 'charge backs' a normal process?? could i be expected to get 50/50 with the house capital, even if i did have to wait to get it? any ideas what the courts would say??

2, I initially put in £20k, my wife £3k as a deposit on our first house, on purchasing our next home (after selling the first!) I put in an additional £26k from the proceeds of a house sale owned solely by me. Am I entitled to reclaim that money back (£46k) prior to any split of capital from the sale of our house? my solicitor is being somewhat vague stating the courts may just distribute the whole sum as we have been married for 10 years, although we only bought our second house 6 years ago.

and finally :)i understand I need to provide for my wife and the two children but she is quoting 3 bedroom house prices that are at the top end of the range in the area near were we live, stating that the school catchment area is important for our second son... which it is, problem is this would mean she would need close to 80% of the capital from the house sale leaving me with enough to pay our debt!! obviously i want to provide for the children but need to be reasonable with what can be achieved with the cash available. What is the ruling on number of bedrooms required? both my children are boys under 9. Does anybody know a quick way online to find the catchment area of a school?

There ..... I feel better already :)

Any help, comments or suggestions would really be appreciated.... even if its just 'hang on in there' so I know i'm not alone in this mad mad world..... im sure thats a song! :cheer:

  • Fiona
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10 Aug 07 #1887 by Fiona
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