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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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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.


Financial statement now or at separation??

  • FINANCE
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23 Aug 12 #351369 by FINANCE
Topic started by FINANCE
Hi
I shall be filing for divorce and am unclear about the section dealing with the financial arrangements.
The marriage was 9 weeks long and we have been separated almost two years.
Do I complete the financial information as at the time of separation in 2011 or now?
When my ex left there were lots of debts and a hefty mortgage, yet almost 2 years on I have almost paid all of the debts solely and managed to get a lower mortgage rate now.
It seems unfair to show my good financial health now on the divorce papers when at the time of separation my finances were in such a bad state of health

Any advice welcome what to do

  • minxy1912
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23 Aug 12 #351472 by minxy1912
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i am only a novice, so don''t take this as correct,but, i think you fill it in as it is now,but when it comes to court you can then explain and prove your past.
Hope this helps a little.
Minxy

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23 Aug 12 #351488 by sexysadie
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Financial statement as things are now.

However, with a 9 week marriage, if there was no significant pre-marital cohabitation, you would take out what you put in so your ex should have no claim on your current assets, unless you have a child together and the child lives with your ex.

Best wishes,
Sadie

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03 May 13 #392001 by FINANCE
Reply from FINANCE
This is the latest update.
I saw a solicitor of the divorce and now I have a home rights notice order placed on my property and am unclear what will happen next.

Cohabitation 12 months
Marriage 9 weeks

Me
Own home since 1995 when we met. Remortgage own home in sole name and release equity £30k as deposit on new home
Rent out old home and purchase new home £135k using equity deposit and mortgage sole name.
12 months later stbx moves in
12 month later get married
9 weeks later separate
2 years later file for divorce under 2 years separation

No children of the family now but at the marriage 2 of my teenage daughters now left home
He had no home and was declared bankrupt just as we met

Value of FMH has risen to £140k now and at separation I had £15k of marital debts (sole name) stbx was a bankrupt and could not obtain credit.
I have paid all debts since separation and they are now cleared.

Stbx wants a share of the total equity in the home, ie: the total £140k house value so a pot of £40k equity and also a share of the equity in my previous home owned since 1995

Can anyone tell me if he has a cat in hells chance of getting any equity as his solicitor thinks he does

Thanks in advance

  • NoWhereToTurnl
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03 May 13 #392007 by NoWhereToTurnl
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Hi,

Short marriage, no dependent children, each takes out what they brought in. You could offer him a couple of K to soften the blow and get it sorted out quickly.

Best wishes,

NWTT.

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03 May 13 #392015 by FINANCE
Reply from FINANCE
Thanks for the quick reply.

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