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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.

Separated 6 years ago, financial responsibility?

  • soulruler
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06 Aug 12 #347683 by soulruler
Reply from soulruler
I would also mention that if there is not a will then on your fathers death any assets will automatically transfer to your mum on his death - i.e. not to you or to your separated spouse.

If there is a will or wills who are the trustees of the will/s?

  • gmichaels
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07 Aug 12 #347883 by gmichaels
Reply from gmichaels
Ok, thanks to everyone who replied, I feel a bit better about the future and making sure my two children are financially stable.

For the record it was my wife who had the affair.

  • soulruler
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08 Aug 12 #348101 by soulruler
Reply from soulruler
Remember that divorce and financial remedy are separate issues.

The two most important documents in the financial split are the Form A and the Financial E as these explain to the court and the other spouse your assets.

The same applies to the documents produced by the other spouse.

So, when you complete your Financial E take your time when it comes to the sections where you describe the assets that you are likely to receive in the future.

If there is a will get that out (or if there are two get them both out) and have a good look.

If there is no will from your father the assets pass directly to your mum.

When you receive the Financial E from your wife if she intends to attempt to stake a claim on your potential inheritance she must stake her claim there and then.

Wills are public domain whereas trusts arising from a will are not.

You state that you are considering a divorce and as already stated you will get your divorce on 5 years separation.

In my view you should not just think but now do as you have both conceded that the marriage has finished. Do not fall into the apathy trap. I think this is an open and closed case so get on with it.

Exchange Financial E,s and assuming she stakes no claim then write to her and tell her what you know and get a Consent Order for the courts to seal.

Good luck.

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