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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.


Keeping savings

  • Goodtimes1
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22 May 12 #332238 by Goodtimes1
Topic started by Goodtimes1
Hi,

My solicitor says that I have a right to keep a savings fund that I started when single.
It''s in my Maiden Name, was approx £8k when I married, he contributed no more than £1500. I later cashed in an old endowment (also pre-marriage pot) and added that, with interest it''s now worth approx £22k. She says it''s mine, period. Any thoughts ?

GT x

  • somuch2know2
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22 May 12 #332240 by somuch2know2
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I would have thought that because its a long marriage that it actually goes into a marital pot to be divided. Pensions get thrown in there, and they are often started before marriage.

  • hadenoughnow
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22 May 12 #332287 by hadenoughnow
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9 years is NOT a long marriage. Are there any children?

If there are not then it is question of whether or not the savings are needed to meet housing needs for you each as single people - ie a one bed property. If you can both be housed (with mortgage - which depends on income) from the available equity then you may well be able to hang on to the money. It might be polite (!) to give him back his contribution to it though.

Bear in mind that if you cannot agree, you could easily spend all your savings on legal fees so if its gets sticky, it may be best to chuck all or some into the pot so at least you get part of the benefit rather than funding someone else''s next holiday in the Caribbean ;).

Hadenoughnow

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22 May 12 #332310 by Goodtimes1
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