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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.


Considering separation

  • Patsy
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14 May 07 #238 by Patsy
Topic started by Patsy
Hi, I have been with my husband for 23 years; married for 12 1/2 years. We are both 40 and have two children 8 & 9. For various reasons we have grown apart since the children were born. We have a marital home worth £275,000 with an £81,000 mortgage. My husband earns £32,000 per year and i work part time and earn £2700 per year.

My question is - if we separate and subsequently divorce what am i entitled to financially? I guess child maintanence until the kids are 19 and an increase in tax credits. However i have been reading your forum and wonder what Spousal maintainance i would get? Thanks.

  • wikivorce team
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16 May 07 #268 by wikivorce team
Reply from wikivorce team
Patsy,

If your are the main carer for the kids, then due to the long marriage and the difference in earning capacity, then you would likely get:

1) At least half of the assets, more likely 60 or 70%

2) child maintenance of 20% of his net income.

3) Spousal maintenance of 15 to 30% of his income until:
- you are able to increase you earnings to a level where you can live comfortably without the SM
- you marry
- you permanently cohabit with a new partner for 6 to 12 mths

You may be able to stay in the family home and pay the mortgage from the SM you receive.

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