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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

  • dorian
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06 Nov 07 #5995 by dorian
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  • Sera
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06 Nov 07 #5999 by Sera
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For the limited information you've given, it doesn't look unreasonable. However, he has every right to have legal advise before agreeing anything in concrete.

It's best you both have any agreement drawn up officially into a legal agreement. It will be a lot cheaper than battling out in court, which could end up costing £50-£80k if it went to full trial.

If you post up more finacial info, incomes,assets, savings, pensions, ages, equity in house, mortgage etc, you'll get a better idea from here.

Sera
x

  • JLGsDad
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06 Nov 07 #6000 by JLGsDad
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That depends on the details, particularly how much is the equity in the house and what SM. Post some more details and people will have something to get their teeth into.

If you were in his position, what would you think?

For me, a bloke who's been taken advantage of left right and centre, a 50/50 split is a fair starting point, then each has to justify more.

  • Louise11
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06 Nov 07 #6007 by Louise11
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Hi

Personally 70/30 split? Well wheres the 70/30 split if hes still got to pay you a percentage of his police pension, 20% of his net income AND spousal maintenance! How long has he got to pay you SM? Seems to me he best speak to a Solicitor, like JLGs dad said "How would you feel?
Its all about what you and he thinks is fair. It all needs to be in a pot and divided. Maybe then 70/30 would seem fair.
He keeps his pension for you getting a bigger share of the house.
You need to post more information if you want opinions on whats fair.

Kind ones
Louise

P.S. I have just read your other post, you say you want your independance back, wheres your independance if he has to pay you SM for so many years? I also can see your hurting and cheesed off big time with him. Try and try to get the emotions out of all this, otherwise it could become very very costly for you.

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06 Nov 07 #6008 by Fiona
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Without knowing the bigger picture it's difficult to comment. It's worth remembering probably one sol will advise at the upper end of what they would expect the division to be, the other sol will suggest the lower end when the answer lies somewhere between.

Court and running up legal bills are best avoided particularly as it often complicates long term family relations. Sometimes with the best will in the world it can't be avoided but fees of £80k are pretty unusual. Someone recently did a survey of lawyers which concluded the average cost of ending a marriage through the British courts was more like £13,000 per divorce, although I'm not entirely clear if this included undefended divorces or those where couples had agreed their own settlement.

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06 Nov 07 #6010 by dorian
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06 Nov 07 #6022 by Louise11
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I have given up so much for him the last 19 years so I bloody well will have a % of his prescious pension!

And therein lies your problem! But Oh well, look out for the BIG FIGHT and many an upset later for years, thats about to come your way!

From what you say of course your entitled to some of his precious pension and of course your entitled to some of the equity in the home, of course you are entitled to CM.

But why do you say 10k HIS debts? They are marital debts, not his they belong to both of you! Why do you need SM? You have a good income, you have enough equity in the FMH.

I honestly believe you will get the house, but I doubt he will have to give you a % of his pension as well as all the equity, it will of course be taken into account but be very careful how much you think you may get based on what ONE solicitor says! They have been known to be wrong and like Fiona says................
It's worth remembering probably one sol will advise at the upper end of what they would expect the division to be, the other sol will suggest the lower end when the answer lies somewhere between.

Kind ones
Louise

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