A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Fair settlement

  • Happyislander
  • Happyislander's Avatar Posted by
  • Junior Member
  • Junior Member
More
23 Feb 20 #511578 by Happyislander
Topic started by Happyislander
Hi, new to this just had FDA and first time ex H has opened discussion on settlement. He wants equal split, but my solicitor diesnt think it should be. Married for 19 yes, 2 children 16 & 17, finish full time education summer 21. He earns net 27k possibly more with overtime, he also works self employed not declared, but has clearly marked income entries in bank acct. He took family car and has savings of just under 5k. I have no car, no savings and debt of 5k, most of this accrued after separation due to legal fees. We have 91k equity in family home where I still live and he rents 2 bed flat. My pensions are valued at 106k and his at the moment 35k, but waiting for army CEV after 7 yrs service. Should this be a equal split and advice would be appreciated.

  • Rickoshea
  • Rickoshea's Avatar
  • Platinum Member
  • Platinum Member
More
24 Feb 20 #511581 by Rickoshea
Reply from Rickoshea
What do you hope to get, if pensions come out equal then you have £90k to split and the only people winning are solicitors. That you are at FDA over this suggests both of you aren’t budging and only likely to both end up losers. You don’t want 50/50, what is your aim and how much will you spend to get that difference?

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
More
24 Feb 20 #511582 by hadenoughnow
Reply from hadenoughnow
This will be seen as a needs based case. For there to be a departure from equality, you would have to show why.

The court will want to see that your respective needs (and those of the children) for housing and income are met. Housing the children until they can be independent is a priority.

You will have been asked at FDA to provide details of your mortgage capacity and examples of suitable housing. You don't mention an income. Are you working and earning?

If you need more than half the equity to house yourself and the children, there can be a balancing adjustment on pension share.

Bear in mind that if you are represented, the costs og going to Final Hearing can be £15k+. This needs to be factored in to any discussion about settlement.

Hadenoughnow

  • Happyislander
  • Happyislander's Avatar Posted by
  • Junior Member
  • Junior Member
More
24 Feb 20 #511585 by Happyislander
Reply from Happyislander
I am in full time employment and earn net approx. 23K. I am in the family home and would like to buy him out. I have provided my borrowing capacity and his side has asked for further evidence of this from an independent mortgage provider. Its not that I am not budging, but after numerous attempts to ask him to sort out the finances with refusals all the time, I had no choice but to start court proceedings and only while in court waiting has his solicitor started negotiating.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11