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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.

Assets Split

  • zippy123456
  • zippy123456's Avatar Posted by
  • Junior Member
  • Junior Member
07 May 12 #328987 by zippy123456
Topic started by zippy123456
Is it possible to agree an asset split before the court decides and is it legal?

Thinking of letting the spouse have the home mortgage free and I have the cash. She will then have a secure home but then I don''t want a claim on my income as a quid pro quo?

Also, I need to take out a significant loan to undertake some training. The loan will be in just my name. Can I use this to reduce my overall assets?

  • TBagpuss
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  • Platinum Member
  • Platinum Member
08 May 12 #329132 by TBagpuss
Reply from TBagpuss
Yes, you can agree an asset split. You would then send a Consent Order to the corut to ask the Judge to confirm the terms reached. It isn''t legally enforcable until the Judge has approved the order so it is not ''legal'' in that sense.

You would still have to complete a statement of information giving the Judge a summery of the finacial position you are each in, and this can include any extra relevent information (e.g. the split amounts to a division of Capital with the wife haveing 70% and the husband 30%. This reflects an agreement reached between the parties and takes into account the husband''s higher earnings, and the parties greement that there should be a Clean Break)

You cannot ''contract out'' of CSA so if you have children you couldpotentially have to oay child support even if you and your ex had agreed not to (there are ways round this, with very careful drafting)

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