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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.

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What can I expect????

  • aa8mm
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  • New Member
18 Jun 12 #337377 by aa8mm
Topic started by aa8mm
Hi, just wondering if anyone has anything to provide guidance wise for what I can expect to have to settle based on the following information:
I''m 45, my wife is 43. We''ve been married 17 years and have 2 kids under the age of 15. We never lived together before getting married. My wife and I plan to divorce but she wants me to stay with the kids and remain in the FMH.
The plan is for her to live elsewher but arrive at FMH each morning and get the kids prepared for school, do their evening meals etc etc whilst I would have them with me overnight and pay for their upkeep as it is at present.
We have approx £125k of equity in our house and approx £112k remaining on our mortgage.
I want to buy my wifes half of the equity / house off of her and am prepared to pay more than it is worth but then I have no idea how much I would / could reasonably expect to pay her going forward. Obviously if she is still looking after the kids on a daily basis, but only whilst I am at work and not overnight, she cannot work so we still sort of need each other. We''d basically both prefer to have the kids stay in the FMH going forward, that is the main desi for us both.
We have no significant assets or savings outside of the FMH but I do have a work pension although I do not have the CETV yet, sorry.
If anyone has any thoughts, info, knowledge or experience I''d sure like to hear from you.

  • dukey
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19 Jun 12 #337532 by dukey
Reply from dukey
You need to be realistic, what can you actually afford is what matters, you both need to keep the house for the kids, you both agree this so what could you afford to borrow that is sustainable long term, its a bit of an unknown in terms of what would be fair without knowing what you earn, why your wife can`t work and what your pension is worth.

The good news is that you both are doing what is best for the kids, as such you both intend to make an agreement without asking court to be involved and that means when the agreement is drafted as a Consent Order the judge is far more amenable to agreeing it.

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