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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.


New to this... some very basic questions.

  • BreakingFree
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02 May 12 #327902 by BreakingFree
Topic started by BreakingFree
I am in the process of initiating a divorce from my wife. We have been married 8 years.

I understand that any jointly owned asset are halved (house equity, savings) but where do I stand on pensions? I have a sizable pension pot that was already established as I entered the marriage. Would my wife be entitled to half it''s current value, or half of the value earned since the start of the marriage, or a proportion based on the time we have been married versus the time the pension fund(s) have been running.
There are no children involved.
Also, in the forum''s experience, would any future maintainence payments be required? I am now the sole financial provider in the relationship.

  • dukey
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02 May 12 #327909 by dukey
Reply from dukey
Its a common misconception that you both divide assets equally it rarely happens.

For most people assets income and pensions are shared according to respective need.

pension sharing is not going to be a big issue with an 8 year marriage with no children.

Again maintenance even if paid would probably be quite short term.

There are always exceptions say for example your wife cannot work is disabled or is much older than you, or you earn heaps more.

If you want some ideas you will have to answer some questions.

Shout if you want the list.

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02 May 12 #327912 by BreakingFree
Reply from BreakingFree
Many thanks for the prompt reply. I am the primary financial provider to the marriage as my wife was made redundant and has been self-employed trying to start a business.

Also, is there such a thing as a legal separation notice, that protects one partner from the debts incurred by the other , prior to the marriage being dissolved?

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02 May 12 #327919 by dukey
Reply from dukey
There is such a thing as a Separation Agreement which is wise if you don`t intend to divorce straight away, though they are not legally binding should the matter become contested it does at least provide the judge with what was agreed at the time, its better than nothing put it that way.

As for debts, once you stop living together generally you both become responsible for your own accrued after separation.

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02 May 12 #327942 by BreakingFree
Reply from BreakingFree
Thank you so much for your advice and help :)

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