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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.


Financial Settlement.

  • DeanDoes
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19 Feb 20 #511491 by DeanDoes
Topic started by DeanDoes
So, I have finally received my husbands form E via his solicitor and it was pretty much as I expected in terms of income. He's been incredibly difficult since our separation 7 months ago - generally avoiding replying to any email I sent him, ignoring my requests for child maintenance (he paid only when the CMA were involved) and dragging his heels in producing Form E ( minus a lot of back up)

Ive asked him for spousal maintenance and to pay his share of the disbursements as agreed (Decree Nisi issued) and this obviously rattled his cage as he sent me an email saying how dare I demand money from him and never to contact him directly again ......a week later I received a solicitors letter saying I had been denying him access to our 16 year old son (totally untrue) and refusing to allow him to collect his belongs (also untrue as I emailed him 5 months ago to ask him to provide me with a list of items he wanted from the FMH)

Anyway, Im in the process of issue proceedings for financial remedy as this appears to be the only course of action left to me (he didn't feel mediation was appropriate at this stage)

So the facts of the matter are : 16 year child with 18 months of school left then hopefully university. married 25 years, I work part time income less than 10K per annum (including child maintenance ) he works full time and with overtime earns approx 30K ( he's worked the same about of overtime for past 3 years so I feel its reasonable to include it as ongoing) living with a new partner earning approx 20k . House valued at 350K with no mortgage. Looking at his bank statements, since he left he's been spend spend spend on holidays, meals out, a new puppy, no household bills so I guess she is paying them all. He says he struggling to pay his share of the bills but looking at his bank statements thats totally untrue. He wants a 50/50 split of the house and a Clean Break. I also want a clean break but not on those terms. Ive had absolutely no spousal maintenance from him since we separated.

Im 52 and he's 50

  • hadenoughnow
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21 Feb 20 #511520 by hadenoughnow
Reply from hadenoughnow
Is this a voluntary exchange or are you in the court process?

Do you claim any child related benefits? Are you able to increase your income by working more hours/changing job? You will be expected to maximise your income.

How big is the former marital home?
How much would a 2 bed place cost to buy?

Are there pensions involved?

NB Spousal maintenance is not a statutory entitlement like child maintenance. It is based on need and ability to pay. If you get means tested benefits of any kind, spousal maintenance is counted as unearned income and deducted £ for £.

The fact that he is cohabiting will make no difference apart from the fact that his costs of living are shared. He still needs a two bed property.

A 50:50 split is the start point for division of all assets after a long marriage. There needs to be a good argument for a departure from equality. If he can get a mortgage and therefore needs less equity to get a two bed property, and you need to be mortgage free, that may be a reason. There may also be adjustments in pension share (assuming there is a pension) to balance any inequality in cash.

Before you rush to court, I would strongly suggest you talk this through with someone who is able to give guidance on what a fair settlement is likely to be. Give the helpline a call.

Hadenoughnow

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