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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 matters

  • 4172jonathan
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05 Nov 07 #5917 by 4172jonathan
Topic started by 4172jonathan
Hello,

I really need some objective advice about financial settlement after my divorce.

In 1990 I married my then wife; we lived happily, until a road traffic accident in 2000 affected our relationship, ultimately resulting in the breakdown of the marriage after my ex-wife sought comfort in someone else.

Various allegations, all unsubstantiated, were made against me; I felt I had no option, at the time, but to leave our home in March 2005 and moved back with my parents. This was at a time when I was suffering a set-back in my health, and was all-round a dreadful time in my life.

We have three young boys, aged 7, 11 and 15, whom currently live with their mother in the former marital home; which she now occupies with her new partner and live in child minder. My ex-wife and her partner work full-time.

In 2004 I stopped working part-time, after finishing full-time work in 2002, all as a direct result of my accident. I am unable to work again due to my injuries. I received a financial settlement, which is held within a personal injury trust, managed by trustees.

My income is from Incapacity Benefit. I also receive Housing Benefit and Council Tax Benefit.

My ex-wife instigated the divorce, but has not addressed the ancillary matters, so I am going to start the ball-rolling. I propose negotiation between us to start with, as solicitors’ costs are expensive.

Will my ex-wife have any right to capital held in the personal injury trust, where I am named as a beneficiary? And would I have any right to equity in the former home, which is quite substantial.

Any help would be appreciated.

  • Fiona
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06 Nov 07 #5951 by Fiona
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Usually all his/her/joint assets form the matrimonial 'pot' and the starting point for division is 50:50 unless there is good reason to diverge from this. Your specific needs are a good reason. In fact there may be a case to ringfence your personal injury trust from the rest of the matrimonial assets then divide the pot to accoount for this. It would be a good idea to consult a lawyer before entering negotiations to explore your options and find where you stand even if you then decided you could manage on your own.

Edited: accoount??? That's the effect of having lived in Scotland too long! :)

  • mumov4
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06 Nov 07 #5953 by mumov4
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Help my husband is telling me that i have to go through the C.S.A to get any money out of him we agreed when i threw him out last year he said he would give me a certain amount. He did keep to that until just recently until he met and moved in with a woman within ten days of meeting her and says he has got less money to live on than he did before. I have got the same bills as before plus i gave up my life to be with him when he ran away ten years ago and i found him. We have two children the youngest being only nine. It doesn't stop him and his new partner going away weekends. I'm really struggling now to make ends meet.

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06 Nov 07 #5955 by Fiona
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mumov4, apply to the CSA asap because child support is calculated from the day the CSA write to your husband asking for information.

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06 Nov 07 #5958 by mumov4
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Do i have to go to the C.S.A or can i not get it through the court.?

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06 Nov 07 #5965 by Sera
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The CSA deal with the maintenance payments for the kids.
15% for first child, 20% for second, to a maximum of 25% for three, or more children. (On his take-home pay).

For yourself, you can apply to Court for 'Maintenance Pending', for Spousal support. But check with a sol first!

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06 Nov 07 #5966 by Fiona
Reply from Fiona
mumov4,

Normally courts can't impose child support, it has to be agreed voluntarily and written into a Consent Order. Once the consent order becomes legally binding the courts can enforce it.

Using the CSA should be quicker although there are disadvantages well documented by the media.

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