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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.


How might a court decide?

  • wammcl
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08 Oct 12 #359866 by wammcl
Topic started by wammcl
Husband has agreed in principle to Consent Order but now stalling on signing. Him Petitioner - wnats a Clean Break. If I were to start court proceedings, how do you think a court will rule?

The number of children you have and their ages; 3 - 1 age 19 (at Uni) 2 x 17, upper sixth (has agreed child maintenenance until end of univ education or 19th birthday whichever is latest at £825 a month.

How many nights the children spend with each parent; Will be living with me

The length of your marriage and any period of pre marriage cohabitation; 20 years

Your respective incomes; H 60,000
W 44,000

Your respective outgoings;I will remortgage to take on 23k c/c debts accrued over 10 years - holidays, kids spend etc., he has to pay 8k joint loan and overdraft

Your assets - both soley held and joint;
House worth 350k, mortgage 145k, my remortgage will be 185k. He didn''t want to buy me out and doesn''t want a mortgage.
I pay him 15k.
My pension - 117k
His pension - 370k

He didn''t wnat to share his pension
Your liabilities; - as above.


Am spending a fortune on excellent solicitor but would like some free advice on whether I should/before I instruct her further. Many thanks.

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15 Oct 12 #361098 by .Charles
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What sort of pensions funds do each of you have? The type of funds and whether they are final salary pensions can made a big difference to what is fair.

Charles

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16 Oct 12 #361228 by wammcl
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I have a final salary pension - CETV value is 117k (worked part time for first 5 years when kids were little). He is senior in teachin and his CETV is 375k. I really am not bothered about his pension and just want the home for me and the kids until they finish uni. He is diputing paying CM as well. I really don''t want to go to court but I can see no option as he has just asked for amends to be made to Consent Order. I am so grateful for any advice. Many thanks!!

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16 Oct 12 #361255 by .Charles
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I can understand why he wants to keep his pension. That reaction is very common from police officers who say "you''re not having my pension, that''s mine".

In reality, you need to throw the pensions in the pot and then work towards a settlement. Once the total pot is valued and you have calculated what your husband''s fair share is, you can discuss how he is to take his share. This might be by keeping his pension and some other assets or keeping his pension and agreeing to pay you a lump sum.

The value of the pension is not the same as the CETV. The value is determined by the ages of the parties, the type of pension and the other factors. It would be wise to obtain an actuarial report to ascertain the true worth of the fund. Has your solicitor obtained one of these?

Charles

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16 Oct 12 #361281 by wammcl
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I''ve PMd you. Thanks

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