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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.

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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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Splitting of child maintenance

  • DownButNotOut
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02 May 07 #149 by DownButNotOut
Reply from DownButNotOut
A few points:

- that 1/3 rule minus your income is not hard and fast - the law actual puts more focus on your needs, if you need more - and he can afford it - there is a reasonable chance you will get it.

- I believe (may be wrong) that SM is calcuated on gross income. It is taken off the gross income of the payer (so they pay no tax on it) but it is taxed as income of the receiver (so u pay tax on it).

- csa maintenance is based on the income of the non-resident parent and the number of kids and how many nights they stay with each parent (also if applicable other kids with new partners come into the equation). Anyway the good news is that you can caculate it very simply and quickly using the csa caluculator which is listed near the top of the Top Divorce Sites section in wikivorce.
(you do not do 1 calculation each and take them away from each other - you just do one calculation based on his income)

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