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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.


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  • maclean156
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27 Oct 07 #5360 by maclean156
Topic started by maclean156
Hi

I have been with my partner for 12 years, we have a 10 year old boy, we have a house that we live in worth £200000 and £60000 left on morgage, I earn £35000 gross and she earns £6000gross.

I am happy to pay for my child support, but what about the house? Is it a 50/50 split......I have payed all mogage payments and all bills since we bought it 10 years ago. The house needs to be sold so I have money to start again ie deposite for new home etc. I am41 and she is 46

Thanks

  • JulesW
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27 Oct 07 #5361 by JulesW
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Good Morning

I hope you are well.

Have you looked at the Wiki Divorce Calculator? Look at Resources on the menu above your messages. It seems to be quite useful.

Give it a go and see what figures come out.

Good Luck

Jules

  • sexysadie
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27 Oct 07 #5362 by sexysadie
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As you have a child you may not be able to sell the house until he has grown up. There is a thing called a Mesher Order that means that you get a share of the proceeds when it is sold. This is usually when the youngest child reaches 18 (though personally I can't understand why a court would force someone to move house in the middle of their A levels) but I know of at least one case when it has been when they finish university. The housing of your son takes priority over everything else. If your son is staying with your wife then it is unlikely to be a 50:50 split, particularly given the dispartity in earnings. You are likely to have to pay spouse support for a while as well until she finds her feet.

Sadie

  • maclean156
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27 Oct 07 #5363 by maclean156
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Thanks for reply

So the way I see it is that she gets the house which I pay for for the next 8 years and Ihave nothing as there is no way I can start again as I cannot affor to payfor 2 properties.

  • Louise11
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27 Oct 07 #5368 by Louise11
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Hi Mcclean

This all comes down to what you and your wife agree!! Not the Courts, the courts only make decisions if you two cant agree and one side may not like what the courts order even if it wasnt their original intention.

So baring that in mind, you two need to do whats best for your child because the courts are only interested in the welfare of him, and so should you both! Its not about you and your wife, your child has done nothing wrong and its not fair on him to have to change his lifestyle in any way, shape or form!

As for "you've paid all the mortgage and bills throughout the ten years"? Yep? and your point is? So you should of!
Now I'm definately not anti men on divorce in this forum, as most folks will tell you! But to make a statement like that is so wrong! Your wife seems to work par time aswell as being a stay at home mum. A marriage is a partnership and everything from work, to wages goes into it. It would be great if everyone was divorcing, and both sides earned the same, had the same pensions, had enough equity in a property to share equally and had enough kids to divvy up so u both get one each! Yep yep we could say great split 50/50!
But that is not the case is it?

It is usual for the parent with the care of the children to stay in the marital home till they are of an age that they no longer need that stability. How you both go about paying for that is down to you two. You give her larger share now or you pay till hes at least 18.

I think best thing for you two is to sit down and actually decide whats best for your son and how you are both going to provide for him!

Kind ones
Louise

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