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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.


Savings Split

  • crimsonlake
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24 Apr 12 #326158 by crimsonlake
Topic started by crimsonlake
Am trying to reach a financial settlement with ex.He is keen to sort it out between ourselves rather than through courts.Initially I have been dealing with this through solicitor , but despite spending near on 2k am no closer to sorting out settlement .Solicitor has never requested ex fill in form E is that unusual?
He is agreeing to 50/50 split of savings .However he has always had full financial control and I have never known in any detail how much we ever had in savings.We were married 18yrs, I gave up my career for family, I am in my early fifties with no job and very little earning capacity in the future, with two teenage children still at school and a small pension.HE is a high earner with the potential to build up his savings again.He has agreed that I can have equity in property, although this wont be nearly enough to buy a smaller property.If I went through the courts is there any possibility I may get more than 50% of savings? I am worried that he is not fully disclosing all our savings, he has also made some bad financial decisions in the past which have had a big impact on our savings in the past .Any advise much appreciated.

  • jonathancj
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24 Apr 12 #326247 by jonathancj
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It depends on the figures but from what you say, it doesn''t sound like a 50:50 case to me. Quite possibly there''ll be maintenance too. And it''s crazy not to get a form E first!

  • crimsonlake
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24 Apr 12 #326292 by crimsonlake
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Oh yes there is maintenance too.Recently he has cut this by £600, declaring he thinks I am getting too much .This bear in mind is a figure he has decided upon and nothing has gone through the courts

  • hadenoughnow
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24 Apr 12 #326319 by hadenoughnow
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crimsonlake

If he has not filled in form E on a voluntary basis then you may have no choice but to apply to the courts so he will be compelled to do so.

That does not mean you cannot still negotiate and reach a settlement between you -- you should do your best to reach agreement if you can. What it does mean is that if he does not play nicely, it is the judge, not you and your solicitor that he has to answer to.

What you get depends on needs and the means to meet them. If he is a high earner (how high?) he is more able to recover from a financial blow. It could be that you have more of the cash assets now - to house you and the children - perhaps in return for a smaller share of the pension. Without knowing more about the situation it is hard to advise other than very generally.

Incidentally if he is earning a lot and paying you little, you may be able to apply for maintenance pending suit - to keep you going while things are sorted out.

He should be paying at least 20% of net income for two children (with adjustments for overnights spent with him if he is living elsewhere).

Hadenoughnow

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