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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.


financial settlement

  • shankarpb
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02 Mar 20 #511672 by shankarpb
Topic started by shankarpb
I have been in 20 plus years of marriage and currently going through my divorce. I am waiting for the Decree Nisi but want to know what all should I consider when doing the financial settlement. I have a home which i bought in 2017 it is joint but I have paid the down payment and I am paying the mortgage. I have a 11 year old child . all other things like savings and car is solely owned by me. My wife works too. what should i consider

  • Rickoshea
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02 Mar 20 #511678 by Rickoshea
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You probably need to consider that after 20 years marriage and with an 11 year old that there is very little concept of “his” and “hers” and that the majority of it is “joint”

  • WYSPECIAL
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02 Mar 20 #511681 by WYSPECIAL
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shankarpb wrote:

all other things like savings and car is solely owned by me. My wife works too. what should i consider


They're not owned by you. They may be in your name but they are marital assets and in the pot to be divided along with everything else.

The priority will be housing the 11 year old.

Post details of ages, incomes and all assets and people will be able to give you an idea of potential splits.

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07 Mar 20 #511721 by shankarpb
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Subject: Forum: Re:financial settlement
Date: 2020-03-07 19:51:21

So property bought at 129,000 current mortgage is 106,000 current value of the use is 125,000

Car value is 8000

Furniture value maybe 1000

Savings only in my account is 4000

My credit card dues is 1000

My monthly contribution towards the mortgage is p.m 700
My expenses is p.m 200 to 300
My house expenses is p.m 200
Child expenses p.m 100
Income after taxes is 1300 p.m

Ex wife expenses
Mortgage p.m 500
House expenses p.m 150
Child expenses p.m 50
Credit cards no idea
Loan no idea
Income 1300 p.m
Savings no idea

Child 1 age 26
Child 2 age 19
Child 3 age 12

Please can you let me know how is this split

Thank you so much

  • Rickoshea
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07 Mar 20 #511722 by Rickoshea
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There is only a small amount of equity so it’s likely down to where the 12 year old will be or that you both need to buy/rent a 2 bed property to be able to share parenting of the child

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