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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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Assets and Debts

  • ag234
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10 Sep 07 #3082 by ag234
Topic started by ag234
More ongoing financial questions...

My Ex2B has stated to the mediator that she will give me £40,000 as a balancing payment for our equity split. Very nice thank you.

However, she is claiming that this will be a debt of hers, and as such will count against the total asset base.

In effect my £40K will lead to a £80K differential. Is this not double counting?

If it is the case that any debt counts, should I not be out there spending for Britain?


Regards

andrew

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10 Sep 07 #3118 by gone1
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No this is not right. Its a debt after decree abs so is not part of the mariage. She is buying you out. Thats it. Chris.

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10 Sep 07 #3119 by ag234
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ChrisM

Thanks.

So, you are saying that she cannot count it as a debt?

The position is that we are in the mediation stage prior to instigating divorce.

The other question is what is the 'cut off' date for calculation of assets/debts??

I was asked to leave the family home in April 2006. Would that be the date at which to consider assets, or would it be the date we agree to a split in assets ( september 2007) or the date of actual divorce?

can I choose? or is it yet another thing to negotiate?

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