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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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Is x2b entitled to this money?

  • madaboutcars
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02 Oct 07 #4241 by madaboutcars
Topic started by madaboutcars
After about 18 months after seperating from my x2b, my mother gave me £12K to pay of all debts. (Luckily x2b and I have no joint debts) This will show up when i attach my bank statements as i paid the cheque into my current account. Do i declare this when filling out form E. Will my x2b be entitled to any of this money?

  • Louise11
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02 Oct 07 #4246 by Louise11
Reply from Louise11
Hi Madaboutcars

Unfortunately as you have to put last 12 months bank statements in along with your Form E, then it will show up anyway. You could always put it in the "debt" box and treat it as a "loan". All debts whether they are in your name or not are actually "marital" debts. So if you can show you have used this money to pay of all debts incurred throughout the marriage then the 12k "debt" could be seen as hers aswell as yours. Although borrowings from family members are seen as "soft" loans. (I.E. they are not likey to attract interest and if you default on a payment there are no penalties, such as borrowing from a bank say.)
It could in fact be a bonus for you should you wish to treat it that way!

Hope that helps

  • madaboutcars
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02 Oct 07 #4253 by madaboutcars
Reply from madaboutcars
Will I have to go through and give a breakdown of the £12k. Does my x2b get to see my bank statements? Who are the 12 month statements for. Are they just to back up your Form E?

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