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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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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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division of assets - where to start??

  • beeswaxx
  • beeswaxx's Avatar Posted by
  • New Member
  • New Member
02 Jul 12 #340537 by beeswaxx
Topic started by beeswaxx
Please can anybody give me a pointer where to start with negotiations? I am 44, my husband is 50. We had lived together for 24 years, married 20. We have one child agd 16 at home, another aged 19 at university. The children live with me after seperation. Family home worth approx £200k with £35k on a mortgage. Also have a property where husband is living, this is worth about £60k and is owned outright. All assets have been acquired jointly over period of relationship. We''ve no other debts. Pension CETV for him approx £145k, for me approx £105k.

We both want Clean Break settlement, and are on good terms. Problem is whilst we can do maths to split existing assets, difficulty is regarding the future. His net monthly income is approx £3200, mine is (with benefits) £1400. He is likely to also qualify for annual bonuses (generally about £2k oper annum, but not guaranteed).He will pay 15% mtce for one child as per CSA guidelines for next 2 years until younger child is 18. I have worked part time ever since children were born and supported him to have career. I cannot currently increase my earnings, and even if i do work full time when younger child is 18, after losing maintenance and tax credits, i will still only net £1400.

How can we factor this in to settlement? What should I be asking for?

Sorry for lengthy post - just genuinely bewildered!!!!!

  • Jamsandwiches
  • Jamsandwiches's Avatar
  • Senior Member
  • Senior Member
02 Jul 12 #340599 by Jamsandwiches
Reply from Jamsandwiches
I''m sure from seeking advise myself the judge measures his future earning potential against yours and can adjust the spousal maintenence to reflect this.

The judge will want to see the financial split is fair and may reward you more because of his future earning potential.

you can claim on his future pension and if the child is still in full time education over 18 you can still claim through CSA for a year.

If atall possible get advise for a fair split and do a Consent Order rather than go through the court which can get expensive. To do this you both need to agree.

If any of this is wrong feel free to correct me peeps but to the best of my knowledge is all legit :)

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