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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.


Help, divorce settlement, where does it start end?

  • Sisterhood
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17 Nov 07 #6908 by Sisterhood
Topic started by Sisterhood
Hi anyone can shed any light on divorce settlement will be mu much appreciated.

My sister has now got 50% custody of her kids, it was a real battle as she was and is te main bread winner, her husband the applicant has now got himself a mortgage and is demanding money of her,not just maintenance for the two children (remember he has them half the week only), maintenance for himself as he does not work, but asking her to pay his debts as he has gone and borrowed some 50K from his family to finance his mortgage? Is this allowed?

My sister who has worked hard all these years and continues to do so has no mortgage yet but has seen somthing that she likes...but can she afford it after all the moey is gone to him? her solicitors seem to be giving up and asking her to give in..anyone familier with this situation?

My question how much of her salary is this guy/ex husband is really entitled to (in the name of the children)?

Thanks for your help

  • sexysadie
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17 Nov 07 #6909 by sexysadie
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It depends on lots of things including the length of the marriage and the difference in their earnings. I think if they have the children 50% of the time each there is no child support to pay. They should register one child as living with each of them for the purposes of child benefit and then they will both get it.

As he has not been working she would probably be expected to pay him spouse maintenance for a while until he had adjusted to the new situation. If he only has the children half the time, though, I think he would be expected to get a job within a reasonable period. He should get half the assets, assuming it isn't a short marriage, and may be able to claim a share of her pension, depending on their respective pension situations.

I don't think she is liable for his debt to his family if he took it out after they had separated, though.

Sadie

  • peyoteradiotheatre
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17 Nov 07 #6911 by peyoteradiotheatre
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As far as I am aware debts are not treated the same as assets in a divorce settlement. Unless the debt is a joint debt, which obviously this 50k isn’t, there is no expectation by the court for that debt to split between your sister and her ex. It is his debt, and his responsibility.
Regarding maintenance, as sexysadie said, if it’s joint custody, neither party should have to pay.

  • Louise11
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18 Nov 07 #6913 by Louise11
Reply from Louise11
Hi there

I am sorry but Peyo is wrong. Assets and debts are treated the same!
The assets less any debts are the assets!
It does not matter whose name these debts are in they are marital debts, if taken out within the marriage. Unless these debts occur AFTER seperation and the other party sees no benefit from them. If a debt is in a sole name then of course that person is obliged to pay the loan but a Court will see it as a marital debt belonging to both and willl take it into account in any settlement.
If he has borrowed 50k from his family and not from a bank or BS then borrowings from family are seen as "soft" debts and not really taken into account with as much importance as borrowings from a financial institute.
He does have an arguement that his children need a property to live in 50% of the time, but to borrow that kind of money from family when he has no income seems to me, a Judge will see through it, for what it is. A joke!
How can anyone take out a loan from anywhere with no income seems very thin and shaky ground to me. How he could even get a mortgage is weird too. In your sisters case i would let him demand all he likes but would not pay one single penny till all his finances are disclosed, your sister really needs to seek legal help to tell her what her position is in all this.

Kind regards
Louise

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