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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.

what sort of settlement

  • markp
  • markp's Avatar Posted by
  • Elite Member
  • Elite Member
04 Oct 07 #4340 by markp
Topic started by markp
hi going to be starting mediation to sort out finances, just wondering if anyone could advice what would be a resonable settlement.

married 10 years.
i'm 43 shes 39
house value £80000
mortgage £28500
endowment £8000 surrender value
1 child a boy living with me in mfh aged 10

i've a pension frozen last october when i was made redundant, waiting to hear how much its worth.

shes says she has not got a pension, i've been told shes had one for a year.

my wages plus tax credits = aprox-£1200 per month full time

her wages = aprox - £250 per month part time
she is also cohabiting with her new partner in a flat.

hope theres enough infomation here for some one to give me an idea of what i could expect the division of assets to be

thanks markp

  • Fiona
  • Fiona's Avatar
  • Platinum Member
  • Platinum Member
04 Oct 07 #4342 by Fiona
Reply from Fiona
The starting point is 50:50. Can you afford to house your son with this? If not you need to look at what is required and how it can be achieved.

  • markp
  • markp's Avatar Posted by
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  • Elite Member
04 Oct 07 #4345 by markp
Reply from markp
shes looking for a cash pay out to do that i would have to remortgage but would not be able to afford the repayments and give my son any quality of living. i would not be able to buy another property in this area, as my present one is one of the lowest in the area. also renting is out of the question as a lot of houses are been demolished and new houses will not be available for a few years. my need for this area is first my sons school, second my family are close and help me out so i can continue working, and her family are close by and he has contact with them.

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This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.

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