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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.


Would a judge sign this off?

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07 Sep 12 #354533 by hedgeh0g
Topic started by hedgeh0g
Hi. My first post here so apologies if it''s in the wrong place, etc.

My wife and I are on the brink of divorce and I''m trying to work out a fair financial solution for both of us.

Some basic facts; married for 13 years, I work, she hasn''t since our 9 yr old was born. The matrimonial home has about £120k of equity in it, with some savings of £20k.

We''ve agreed that parenting would be 50/50.

If the equity is used to buy her a house with me taking out a mortgage to cover the rest of the purchase, (costing say £400pm) and her getting £500pm child maintenance, plus another £500 in benefits She''s also in the process of setting up a business that should start earning very soon. I would put a deed of trust (or whatever it''s called) saying that the house is essentially hers.

Would that be acceptable to a judge? I can''t realistically afford to pay much more as I want to live within a mile of her so I can do the shared parenting.

One other thing is that she''s blind. Does that have any bearing on what she''s entitled to?

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09 Sep 12 #354721 by dukey
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The fact that she is blind does make a big difference.

You don`t mention age income pension`s so no one can suggest if the agreement is ok or not, you would need to give much more detail first.

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09 Sep 12 #354728 by hedgeh0g
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We''re both 38.
Net monthly income is about 4k a month. I have a pension pot of about 100k.
She''s been blind since birth, I''ve been partially sighted since birth.
I would be giving 100% of the matrimonial assets plus about £500pm by paying the mortgage.

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09 Sep 12 #354729 by dukey
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And you intend to pay the mortgage until its finished?, assuming you are then on the face of it, it should be fine, are you offering a pension share, i assume your wife has no pension.

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09 Sep 12 #354732 by hedgeh0g
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Yes I would pay until its paid off, or until she cohabits or decides to sell up.

She hasn''t got a pension, but has previously said that she doesn''t want any of it as she has time to build up her own. I have paid up her NI since she stopped working and would be happy to continue.

For day-to-day living the EntitledTo site indicated she''d be eligible for £1400pm in benefits, plus the £500 of child maintenance from me.

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09 Sep 12 #354733 by dukey
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Make sure the CM is right, if your net is 4k it should be £600, its at the lower end of what you should be paying.

When you have the CO drafted make sure she has a solicitor look over it, its less likely a judge will question it then, it doesnt need to be expensive, this site offers a solicitor service for £99.

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09 Sep 12 #354735 by hedgeh0g
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Cheers, thanks for your help.

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