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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.


Settlement Question with regards to a business?

  • AJC
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04 Jun 07 #555 by AJC
Topic started by AJC
Sorry another question.

My husband runs a successful management consultancy of which I am a silent partner, although I don't work full time in the business, I do some admin and web work, etc. However, he earns about £300,000 per year with a good dividend at the end of each financial year. Am I entitled to a share of money from the business, as it was always agreed that I stayed at home as the housewife so I dropped all thoughts of ever studying for a career myself and supported my husband in his studies and business ventures. Now I have no savings, no prospects of a career, no job as of yet and wondering how on earth I am going to financially survive as he has always been the provider. We have no children to worry about, thankfully.

AJC

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04 Jun 07 #559 by wikivorce team
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AJC,

A key piece of info missing is how long youve been married (if only for a year or two then you are entitled to less)

I will assume that you have been married for a while (at least 5 years).

The good news for you is the England/Wales famly law gives you full credit for your contribution to the marriage.

You can expect a fair share of the assets (take 50% as a starting point) as well as a share of any pension he has, plus a good claim for spousal maintenance which could be 1/3 of his income until you can start work an support yourself.

I would need lots more detail to provide a more accurate view than this. Take a look at the Divorce Calculator - see all the parameters it needs to make a decision.

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04 Jun 07 #561 by AJC
Reply from AJC
We've been married 15 years and a few months.

I do apologise all this has been quite a shock. Having given him all my support over the years this was the last thing I ever expected.

Thanks for the information at least I know he can't leave me with nothing.

AJC

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18 Jun 07 #861 by flower2
Reply from flower2
Similar to my plight, helps to hear you are not alone. Am happy to talk but not online incase he logs on to this site.;)

  • Shelia
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18 Jun 07 #870 by Shelia
Reply from Shelia
Similar to my plight too and would happily discuss privately. It is scary when it is the last thing you expect. I am looking for work and and not really up to it, but getting better.

I feel it will be ok in the end, but its getting there.

Thanks to all you who take the time to contribute and Wikiforce. It really helps keep my spirits up.

Shelia

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