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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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  • adenuff
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16 Nov 07 #6820 by adenuff
Topic started by adenuff
hello, any advice. wifes been to see a solicitor who says shes entitled to 70/30 split of the house.i have been paying the mortgage for 22 years.joint names.2 boys aged18+16.both in full time work.she works and takes home about £800 per month, but she says she will be happy with 60/40 split of equity, does this seem fair? also will i be liable to pay maintenance for her.i take home about£1650 per month. as well as paying the mortgage i also pay 95% of all household bills including 3 endowments.any advice gratefully recieved, trying to work out how much left to live on when i finally cant stand it any more and move out of m,h. thanks

  • Specialdad
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16 Nov 07 #6824 by Specialdad
Reply from Specialdad
The split will depend

1. On how much the house is worth.

2. Where the boys want to live.

3. Whether she has a lump sum to buy you out of your share.

4. As she is earning you shouldnt have to pay her maintenance.

5. Whether you can both get mortgages for new homes.

6. It is best to stay put till the Consent Order is through and the house is sold or she pays you the lump sum otherwise it will become financially tough for you and her.

  • JLGsDad
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16 Nov 07 #6827 by JLGsDad
Reply from JLGsDad
Somethings you should know:
a. Sols often talk up their client's chances.
b. Wives hear what they want to hear from sol.
c. Wives often lie to boost their case, so treat everything she says as all part of a negotiation.
d. As soon as you move out of FMH you lose most if not all of your bargaining power.
e. Get legal advice quickly.
f. All your (his & hers) money is in the pot, within reason doesn't matter where come from, who spends or where spent.
g. Things a little different in Scotland.

What's fair? A long marriage, kids almost off hands: IMHO, say, a 50/50 split of assets & pensions plus some SM for a while. You could keep your pension if you give up some of the assets (but £100 of pension CETV is worth much less than £100 cash), and similarly for SM (a bit more cash now, no SM).
60/40 no fight may give you more than 50/50 after court fight (you haven't given figures for equiyt & assets).

Advice? Get legal advice ASAP, keep things civil, avoid your wife (less chance for trouble), get a voice recorder (protection should things get rough whilst you are in same house). Oh, and remember there are a lot of people here going through the same thing (like me) and things do get better.

Good luck. B)

  • Specialdad
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16 Nov 07 #6830 by Specialdad
Reply from Specialdad
i hate to disagree but dont go to a solictor yet.

suggest to your wife that once she has got the Decree Nisi then you both can go to mediation. That should take anything up to 2 years.

By that time your youngest will be 18 and she will probably have to agree to a 50/50 split.

I agree with above dont get into any arguements in the meantime and stay put.

  • soulmanuk
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16 Nov 07 #6838 by soulmanuk
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i am in the position of living in the FMH with kids 20 and working and 17 fulltime education. she left 13 months ago, pays nothing except £28 a week CSA. she wants 50/50 split but has not paid nearly £7000 worth of debt. i am paying half the debt and what i can of hers so the house does not get repossessed making me and kids homeless. there is only £20k equity in the house. i cant get a mortgage for another house, i cant get enough to buy her out and the rents are £200 a month more than what i am struggling to pay now. she has a fulltime job, living with her new partner mortgage/rent free. what are the chances of me getting 100% of the FMH. i have asked her for money she said i am not getting any. she keeps running to sol and now as £1800 in fees, i have been turned down for legal aid even though i only have £14 a month disposable income. sol wants money up front to do anything but i have not got any. i have tried to be amiciable all i get is go through sol. am i right to think she has the money but would prefer to give it to a sol than keep a roof over her kids head.

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16 Nov 07 #6846 by Specialdad
Reply from Specialdad
soul

get down to your local CAB and get a form for emergency order to get some maintenence from your ex asap.

The court will not make you homeless and your ex will have to wait a long time for her share as long as you are paying the mortgage.

  • onmywayhome
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20 Nov 07 #7112 by onmywayhome
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joined today.... quick question.

$$: I earn £5K and she earns £3K. we have a family home worth £500K and I have 2 more properties in my name (£250K). Some savings (£100K) and some pension (£200K). Two kids 15 and 11 in grammar schools, so no school fees. we have been married for 18 years.

she suggested today I should move out for some months to reevaluate the situation.

any advice?

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