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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.


money honey

  • TONYS11
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13 Nov 07 #6547 by TONYS11
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hello - my wife left me for someone else about 15 months leaving me in the family homne with my 2 daughters (age 14 and 17). We had a very tight financial budget and my wife agreed to keep paying her salary into our joint account so we could keep the house for the kids. Everything was fine until this month she opened a seperate bank account under her name and had her salary paid into it without telling me or the kids. We had no formal financial agreement. Does anyone know where I stand? Any help or advice would be gratefully received.Tony

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13 Nov 07 #6548 by Sera
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A few minutes ago: I just posted similar to 'Rob':

If you post some more financial FACTS you'll get a better idea how a division of assets may be split. Value of house, equity, mortgage, savings, debts, age of kids, your ages, incomes: yours and hers, Pensions, etc. etc. Also, length of marriage, and period of co-habitation prior to marriage, if it's short-term.

Right, There are no rules. A Court will have to make a judgement in a Financial Hearing; if the parties cannot agree through solicitors or mediation.

OK: Sadly Fault and Blame (and emotional reasons) have no bearing on the actual division of Marital Assets. It is all calculated into a 'Pot'. (Despite who paid for what!)

Each parties 'needs' is then considered. The Parent with Care is likely to stay in the family home, at least until the kids reach 18. (Unless house is beyond 'needs', big, enormous house) it's doubtful you would have to move out until kids 18+

You will have to get legal advise if you wish to apply for Spousal Support (works both ways, man or woman!)
CSA guidelines for childcare = 20% of her take-home pay. (For the two kids) Apply asap, since money granted from application.
More figures = more advise!

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13 Nov 07 #6552 by TONYS11
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thanks for the advice - i'll put some FACTS together

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13 Nov 07 #6578 by sexysadie
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Unfortunately CSA doesn't apply to children over 18 so you won't get it for your 17 year old for long. But if s/he is still in full time education s/he might be able to apply for support in his or her own right at that stage (and presumably get legal aid to do so).

Sadie

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14 Nov 07 #6611 by TONYS11
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thanks Sadie - I need to get my head round all this ASAP

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