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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.


declaration of trust

  • beth46
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20 Apr 12 #325312 by beth46
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Please could you advise re this subject. I entered a declaration of trust with my partner when we began living with each other. We consequently got married and are now divorced. I gather that this is like terms and conditions. And if all the terms are not kept for example - when he moved out he did not continue to pay towards the mortgage, endownments or upkeep of the house. I have paid the bills etc. Does this make the declaration void? The house was mine prior to us living together. He is also after part of my pension - is he entitled to this and if he is then what porportion should he receive?
Many thanks

  • hadenoughnow
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20 Apr 12 #325316 by hadenoughnow
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Hello Beth,

The declaration of trust is superseded by the marriage - however that does not mean it will not stand. A lot depends on how long you have been married, the value of the house, whether there are children, your respective incomes, pensions, debts etc.If you can tell us a bit more about your situation, we can help you more effectively.

Hadenoughnow

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20 Apr 12 #325339 by beth46
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Hi. We began living together in 2000 and entered into this declaration in 2001. Got married in 2004 and divorced in 2009. No children together although I had 3 from previous marriage. My income is higher than his at £30,000 his approx £25,000 per year. He entered with nothing I had equity in the house. The house is worth approx £180,000. He is said to be entitled to 43% of equity of house. There are no debts. I continued to pay mortgage and endownments. We did although get back together for approx 8 months in 2009 when he promised to change his ways - drinking and being abusive etc. My pension is indeed higher than his - his being £29000 over 35yrs - mine is £144,000 over 26yrs. We married Jan 04 and divorced May 09. My children are know over 21 the youngest is at uni - and of course will have debts to pay back - they are asking why he is not contributing to the household!! He is in his last year and is looking for work. I am living in the house at the moment. They are also insisting that I sell my house as they say that I have no need for a 4 bedroomed detached house - my arguement is who is he to tell me to sell when this is my family home and also it would cost me more to move and get a new mortgage as my mortgage at this moment is a good rate. I am willing to offer him £50,000 and part of my pension but this does not seem to suit. The mortgage presently is £45,000.
Many thanks
Hope this is enough info

  • hadenoughnow
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20 Apr 12 #325372 by hadenoughnow
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beth,

A few more questions ...

Who is the "they" you are talking about? No-one, except a judge, can "make" you sell your home. There are no hard and fast rules about percentage shares either.

Did the Decree Absolute come through in 2009? Is there a reason why the finances have waited until now? Do you know what the house was worth in 2009 and 2000?

How long had you owned the house when he moved in? What were the terms of the declaration of trust?

Can I also ask how old you both are?

Thanks

Hadenoughnow

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20 Apr 12 #325380 by beth46
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Hi It went to court the other day and the judge suggested that the solicitors look into the viability of the declaration. She ordered another valuation of the house. I lived in the house since 1991.The Decree Absolute came through in 2009. Why has it taken so long - because he has refused any offers and did not continue with mediation. So know it is going through the court. Solicitors are to look at options - my arguement is he did not keep up with the agreement. He also emptied the house twice and I had to replace furnishings etc.
In 2000 the house prices dropped - I would say it was worth approx £110,000 in 2009 approx £200,000 but in this climate in Dec 2011 the valuation came in at £165,000. I am 51 he is 53. I am also going through chemo at the moment for breast cancer - so my wage will drop to half pay soon - but I will be returning to work in Nov hopefully. Not really straight forward - but I am so fed up with all of this - is there nothing simple in life anymore. Ha
Thanks

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20 Apr 12 #325386 by hadenoughnow
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Oh dear Beth, you are going through the mill. I am so sorry to hear about your illness on top of everything.

Was this a First Directions Hearing you went to? Have you - or he - applied to the courts for Financial settlement?

I would be very grateful if you would answer the rest of the questions in my previous post - it will help to clarify things a bit.

Hadenoughnow

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20 Apr 12 #325387 by beth46
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Hi
Sorry will need to get back to you about this over the weekend as I am not at home at present where the document is.
Yes this was first direction to court and he is the one who has filed for the financial settlement. He is in a new relationship with a younger women who has 2 children and they have a baby on the way - it makes me wonder what her settlement is with her husband. They are presently living in rented accommodation. They wish to buy a house for £175,000 but he is claiming he is having to change his job due to depression and will be getting a much lower wage of £15,000/year. Is it me who is crazy - how is he going to get a mortgage?
Thanks for your time. It helps to get someone elses opinion.
Liz

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