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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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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.


  • fio
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09 Sep 07 #3061 by fio
Topic started by fio
Hi all - I am off to mediation tomorrow to sort out finances. I am trying to sort out how I am going to live if I keep the house and buy him off with all the savings?
Will I get income support if I get spousal maintenance? Obviously I shall be looking for a job, but in the meantime I need to live and was just wondering how this all works.

  • jasmine
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09 Sep 07 #3062 by jasmine
Reply from jasmine
My understanding is that spousal maintenance is classed as income and it reduces the benefits you can get.
If you have children your best bet would be to get 16 hours part time work claim max working tax credit and child tax credit and you could then keep your spousal maintenance and child maintenance. Check this with your local benefits office

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09 Sep 07 #3064 by IKNOWNOW
Reply from IKNOWNOW
Hi, Fio

Income Support is currently £59.15 a week. If you recieve maitenance whether it be child or spousal any thing over this a week you will not get Income Support and the other benefits eg health costs etc. They do allow you to keep an extra £10 a week I think so effectively you would get maximum of £69.15 (this is my belief of the system but you would be wise to clarify this).

You can get mortgage relief after 39 weeks of being on income support but they only pay the interest not the capital or any related insurances.

If you are not going to get much more than this you need to weigh up whether you would be better on benefits or not. Things like council tax benefit would be good to look at aswell.

I agree with Jasmine that if you have children and they are at school you would do better get a job for 16 hours and claim the tax credits relating to that.

On another note - are they your savings or joint savings? Either way they could be deemed as in the marital pot and therefore half of the savings would already be his!

I am currently in a very similar situation as my x2b doesn't think I should stay in the house, then he says I can but with certain criteria. I am trying my hardest to stay in the house with as little input from him as possible, I think to uproot my 5 children would not be good for them and to find somewhere in their current school catchments to rent is unlikely to happen.

All things to consider.

I would also say that you should not commit to anything tomorrow if you are unsure of what your financial position is now & in the immediate future. It is best to be upfront about it.

Another question? (not meaning to be nosey!) Does he have a pension? If so you are entitled to 50% of the CETV for the duration of your marriage. (which could be a reasonable amount to bargain with).

Sorry if you already know a lot of this I just thought that as mediation was tomorrow it was best to cover all angles now.

Hope mediation goes ok tomorrow.

Regards, Sarah

  • fio
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10 Sep 07 #3069 by fio
Reply from fio
Thanks Sarah and Jasmine.
Children are 18 and 21 so dont count I think.
Forget benefits then by the look of things. The savings would go in the pot, but am hoping I can hang on to the family home as a base for the kids who are both going to uni.
Pension pot is around £50,000.
X2B is currently out of work, but is looking for a job and can earn a good salary if employed.

  • Canary
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10 Sep 07 #3071 by Canary
Reply from Canary
Does anyone know what the level of working tax credit is. My x2b works 17 hours per week but term time only - does this mean she would be ineligibile as falls under 16 hours per week over the course of the year.
Also what is approximate amount can get on working tax credit (x2b earns about £380 per month (over 12 months, not just term time)?

Our ability to sustain two households depends on getting a bit more than we are entitled to with my salary currently (minimum)

  • Mrs.Bobbitt
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10 Sep 07 #3092 by Mrs.Bobbitt
Reply from Mrs.Bobbitt

Term time only is still classed as all year round work in terms of tax credit benefits.

For example, you are off work during school holidays but still being paid for them.

The downside (ha, if there has to be one) :Pto working term time only is that your annual salary is pro-rata'd to 39 weeks per year rather than other employees who work 52 weeks per year with holiday entitlement.

For someone working 52 weeks per year and earned say £15000, the term time only worker would earn £11,250 (39 weeks of it) but still paid over the course of 52 weeks as the other person is.

Do I make sense??? :unsure:

This is my interpretation of it

  • Canary
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10 Sep 07 #3102 by Canary
Reply from Canary
Mrs Bobbit
Many thanks
It was really that my x2b does 17 hours per week during term time, but averaged out over 39 weeks per year, it would presumably less than sixteen so I wondered whether meet the 16 hours working tax credit min. Her monthly salary is about £388 paid equally over 12 months.

Also does anyone know what level of Working tax credit that might entitle her to?

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