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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.

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Business a marital asset??

  • paulnnosh
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15 Oct 07 #4738 by paulnnosh
Topic started by paulnnosh
Hello Chaps,

My brother and his wife are getting divorced and I'm convinced that he is being taken to the cleaners...;)

They were married for 7 years and have two children under 10 years old. The plan is for my brother to have the children at weekends.

They have agreed a settlement of 50% of the equity of the house. My brother was happy with this but recently his wife has started to procrastinate and delay proceedings.

The settlement does not take into account a number of other marital assets. His wife has a pension and during the marriage his wife set up a very succesful hairdressing business that also owns two other properties. His wife has done everything in her power to keep these assets out of any documentation presented to the courts.

My brother is broke after being kicked out of the family home and so was unable to instruct a solicitor to help him. I wrote a letter to his solicitor to explain about these additioal assets and all we got back was a very aggresive letter from her solictors saying basically that we should be happy with what we got.

In a nutshell, is my brother entitled to any share of the business (and it's future value?) which was set up with his support both finacially and practicallty. Also what would the score be with her pension.

Many thanks for any advice recieved.

  • Sera
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15 Oct 07 #4740 by Sera
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She'll have to make a Full financial disclosure... what he claims against will be another factor. He could ask that an Auditor values the businesses. (My soon 2bx has had a quote for the assesment as £4000 but our Mediator thinks that quote is way too high!)

If you post up some figures, length of marriage, pensions etc, you'll probably get a better idea. There are no rules in divorce. It's different for each couple.

Each of the parties needs will have to be considered, so if she has the greater assets, then maybe she's have to pay spousal support, or she makes a settlement to him.

  • tiesys
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16 Oct 07 #4783 by tiesys
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Hi,

In very similar situation (but interestingley from the "other" side). My wife owns land, buildings and business interests, all of which were purchased midway in a 16 year marriage.

I am being told by all and sundry (including my solicitor), that this will all go in the "pot".

I have my doubts, and even if that is so, how on Earth do you get someone to release monies from locked investments (she can't sell the land because the business isparked on it).

Mike

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16 Oct 07 #4787 by Sera
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Mike,
It all needs to be declared on a form E. How it is then distributed remains for negotiation. (Or judges Order if it goes to court). If she kept the land, you could be awarded another of the properties. It can all be shunted around, transfered etc; to make the settlement.

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