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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.


property

  • belly
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24 Nov 07 #7590 by belly
Topic started by belly
I have recently got divorced. My problem is that my ex is insisting that he has a share of my parents property which they have signed over to my sister and me as early inheritance. Years ago my sister and I gave my parents the money to buy their house (they were struggling to pay their mortgage)it was a small sum as they bought with their right to buy council home. The money came out of our joint account. By the same token we were supplying money non stop to my ex's daughter (this was both a second marriage). My solicitor seems to not have a clue, so do I change my solicitor or just let it go to court and let a judge decide?

  • Louise11
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24 Nov 07 #7601 by Louise11
Reply from Louise11
Oh dear

This post has the potential for many an arguement! As I am having one with my husband right at the moment of typing the answer!

My husband said "he thinks your ex has a cheek and isn't entitled to a share....................

I say I think he is entitled to a share "IF" you used marital money to help purchase it!
But the arguement really is did you give the money as a gift, like i'm sure he will say about the money hes given his daughter.

I am also a bit concerned you say you are divorced??? Yet the finances haven't been sorted? Who advised that?

Also I think if you have inherited this property AFTER your divorce then i doubt very much he will be entitled to a share.

Another thing is I'd get rid of your solicitor if he/she has no idea, because what else doesnt he/she know?????? Scarey biscuits!

Kind regards
Louise

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24 Nov 07 #7611 by attilladahun
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Payment of the money to your Ex's daughter is a "contribution" you have made and in form E should a formal application to the Court be made mention it -although a minor point it should be mentioned

Clearly as the properties are in you and your sisters name it is relevant

BUT

only as a "resource" you will have in the future....I am assuming your parents still live there...

So H does in no way get 50% of your share etc.

Where it comes to be relevant is for example the DJ may be happy to approve an order which approves a Clean Break if your housing needs are met and you can properly manage and "adjust without undue hardship".

One factor of concern is when children leave home wives may not be able to pay off mortgage or manage if she have little pension -if the likelihood is you will inherit when your folks pass away -then the Court will see the sense in the order.

If you know the assets the solicitor should give you a clear indication of the likely settlement.

Rather than sacking the solr which can cost more if a new solr has to read all papers it is relatively inexpensive to get a written opinion from Counsel -certainly no more than £250+VAT tops.

As a rule of thumb unless H can show you will not get the £ within 5 years (eg relative has terminal disease) it will be ignored.

I persuaded a DJ recently my client's father (and sole parent) of 89 and worth £100K with my client the only child-the inheritance was irrelevant as the old boy may have to go into a nursing home ultimately.

When you realise this it puts a different complexion on the matter!!!

Best of luck

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25 Nov 07 #7623 by belly
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Thank you for input. My parents still live there and it was legally stated they could for the rest of their days. The money was a gift, because they were struggling, both had to retire early due to ill health. Talking of nursing homes what if my parents need nursing care in the future, I certainly couldn't provide that. There seems to be a lot of for and against! It was never intended that my ex should have a share or the deeds would have been in 4 names, my sister and her hubby me & mine. The solicitor at the time made wills for my Sis & me leaving our share to our children and not to our partners.

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25 Nov 07 #7624 by belly
Reply from belly
Thank you for your input. Yes the money was a gift as my parents were struggling. My parents have a right to live in the home for the rest of their days. It was never intended that my ex or my brother-in-law were to receive a share as the deeds were passed to us the solicitor had us make a will leaving this to our children and not our partners. I am divorced, the sol said the divorce and the settlement were 2 seperate issues. I am still in the marital home which is up for sale. I will inherit after my divorce, I hope I never get it because of the obvious.

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25 Nov 07 #7642 by attilladahun
Reply from attilladahun
The property will largely be irrelevant then

Feel free to disclose the Will etc
You should not worry:)

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