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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.

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Where do I stand?

  • harriet.potter
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  • New Member
16 Dec 07 #9145 by harriet.potter
Topic started by harriet.potter
Hi all.

As a director in my husbands business I would like to know if I have any entitlement in any divorce settlement?

My husband also has numerous investments. Again would these be included in any settlement?

I now live in my own home with my three children (all under 10 years old).

What else could I expect to be included in any settlement?

Any information would be gladly appreciated.

  • TMax
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17 Dec 07 #9159 by TMax
Reply from TMax
As you will see many times within various notes, you take ALL assets from savings to pensions and property, put them into the big pot take out debts and then the split starts at 50/50 in the case of young children with you then your side of the pot will get slightly more depending on your earnings will state what the split will be. all asets must be shown woe betide the person who hides thngs and then is found out by the court.

  • LittleMrMike
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17 Dec 07 #9164 by LittleMrMike
Reply from LittleMrMike

Businesses can be problematic because there is a danger that dividing it will kill the goose that laid the golden eggs. It is becoming a recognised problem amongst some businesses when a senior manager/director is threatened with divorce and the settlement might have an effect of the viability of the business. In some cases it can be a solution to allow the husband to keep the business and the wife may get a disproportionate share of the assets to compensate.

I would say you may need legal advice because it can happen that people in business may find it easier to 'doctor ' the state of the enterprise unlike most of us who are taxed via PAYE and couldn't do that sort of thing even if we were so inclined.

Without knowing the state of your finances and those of your husband, it is, I'm afraid, not possible to answer the question as to what you would get. You both have to exchange detailed statements of your finances and no solicitor will give you an idea of your likely position without seeing them.

Mike 100468

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