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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.


Earnings

  • icklefish
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18 Nov 07 #6961 by icklefish
Topic started by icklefish
Hi everyone. Quick question.

I have my own company and pay myself a wage, expenses and dividends each month. All three form part of monthly income the wage portion being fixed and the dividend and expenses part will obviously be variable. Also funds build up within the business which are used to pay my wages in between contracts. Also the amount going into the business changes based on my contracts.

What I needed to know is for the purpose of calculating my maintanance commitments how would my earnings be calculated.

Thanks

  • DownButNotOut
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18 Nov 07 #6962 by DownButNotOut
Reply from DownButNotOut
Your income for maintenance purposes is wages plus dividends.

Genuinely incurred business expenses are not included (but that company car should not be a ferrari!)

Money invested into the business is not included.

The wages you receive between contracts are included.

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18 Nov 07 #6963 by icklefish
Reply from icklefish
Thanks DownButNotOut, appreciated. I've got a ten year old car, guess who has the new one :-). That's very helpfull.

  • Fiona
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19 Nov 07 #7036 by Fiona
Reply from Fiona
The CSA doesn't include directors' dividends as income for the basic child support assessment.

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