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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.


Mediation

  • Cupcake queen
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08 May 12 #329210 by Cupcake queen
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No the judge did not say. I do have another post titled What is fair? Funnily enough. She did mention something about an 80/20 split.

  • Imediate
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08 May 12 #329221 by Imediate
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What is fair? An 80:20 split is not impossible but pretty unusual. I have never come across one but that is not to say it hasn''t occurred.

Every case will depend on an awful lot of factors - the quantum of your assets, your earnings, your ages, your ability to re-establish yourself, your children, their ages, the length of your marriage, and so on.

A judge''s decision will depend on that judge in that court and on that day. The same judge in the same court on a different day might make a different decision. There is no strict formula and every case is different. This is one of the hazards of going to court.

Divorce settlement calculators can only ever be a rough guide, and the results they give must not be treated as definitive answers and you would be unwise to base you expectations on them and consider nothing else.

If you want to avoid the hazard of going to court, do not want to incur the considerable expense of having a lawyer each, and want to make the decisions between you as to how assets etc should be split, then see if you can find a good mediator to help you resolve the issues - which is pretty much where I came in earlier in this thread, so I''ll stop!

Good luck.

  • hadenoughnow
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08 May 12 #329231 by hadenoughnow
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In my case there was an 80:20 split of cash assets (house and endowment)but he kept his pension and me mine (about 1/3 of his CETV but not final salary). His pension was about to pay out so he had a lump sum coming which, with the 20%, was enough to house him .. and of course he had an income.

I think cupcake is in a similar position ... as her stbx is about to retire from the police ....but she does not know what the lump sum will be. I imagine it will be substantial though..

Hadenoughnow

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08 May 12 #329242 by Cupcake queen
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Thanks for summarising for me. I have the house and so the 20% would be to me and 80% to him.

See my other post for more details. ''What is fair''

Thanks again.

  • rasher
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08 May 12 #329252 by rasher
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I used mediation and it definately saved us alot of money and helped pave the way for the ''new lines of communication''.

Its success is dependent on participation of course. I dont know what your relationship is like currently with your STBX but if you are struggling to communicate without it disintegrating into a row, mediation can prove to be a good time limited, neutral space to practice talking to each other whilst managing a range of emotions that normally leap out randomly and grab the steering wheel in less organised situations.

Its also alot quicker esp if you are dealing with someone who doesnt see/want to see logic - its amazing how when someone else says it, they hear it. Its actually quite rewarding to have that happen in your presence so I would deffinately recommend you go if you are dealing with someone who doesnt have a firm grip on divorce reality.

I find it hard to see how anyone loses out trying mediation because even if it doesnt achieve its goal that will be due to someone not wanting to work reasonably. You therefore have an independent witness to that which is ultimately very helpful.

Best wishes

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09 May 12 #329356 by Cupcake queen
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That''s a really useful explanation. I am willing to give it a go. Waiting to here from him. He is the one going to lose out so he is not going to be as keen as me. It has been ruled unfair so it''s not me just asking for more.

He is putting pressure on me to agree that I am happy with the initial agreement.

Does the mediator offer any financial solutions / suggestions?
Best wishes.

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09 May 12 #329364 by rasher
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They arent financial advisors but they do follow prescribed formats about financial disclosure and you have to submit all that information to them to help them mediate - from the minutae of day to day expenses to the big stuff of pensions and assets. From my experience our mediator outlined options that ''might'' be looked at in court and when there were stuck moments she made suggestions about what you could do - ie you could reduce this cost; you could off set this asset against this savings account etc. She also sends the working out to the sol.

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