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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.


settlemnt

  • bob
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11 May 07 #221 by bob
Topic started by bob
Married 29 yrs. She not worked for past 26, her choice not mine. Own house no mortgage value £222000. Assets £55000. Two daughters 25, employed, 21, one year left at uni. Both at home. Pension £13000 income £16000. No debts. Financial settlement how will it go>

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14 May 07 #240 by wikivorce team
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The marriage is a long one. Her contribution as homemaker will be equally valued to your breadwinner contribution.

The kids are almost independent - no child support implications.

So a court would be looking very much to achieve a fair split between husband and wife.

In your case I would suggest that the outcome would be a 50:50 split of assets and a maintenance order that had the effect of equalising your incomes.

The challenge will be to purchase accomadation for you both with the 277K - but it is clear that you will both have to downsize.

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