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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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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.

I need advice

  • If Only...
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  • New Member
23 Jun 07 #938 by If Only...
Topic started by If Only...
I need to know what I am entitled to.My wife is leaving our 2 children and I.For just over the last 3 years I have worked part time in order to look after the children to allow my wife to gain her exams and start a well paid job, when she goes (anytime now)I do not know how I will cope money wise.Help:( :(

  • Princess Fiona
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23 Jun 07 #940 by Princess Fiona
Reply from Princess Fiona
First thing is to check out any state help you may be able to claim. There is a calculator at www.entitledto.co.uk

You need to ensure you receive CB. Your wife will be expected to pay child support and depending on your needs and her ability to pay possibly some maintenance for you.

Also you could look to increase the hours you work.

  • DownButNotOut
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25 Jun 07 #951 by DownButNotOut
Reply from DownButNotOut
If Only,

You dont say how much you each earn - so im somewhat guessing here.

You also do not mention any assets (do you own a house together? Any pensions etc?)...so I will not comment on assets until you provide further info.

Airdranter is quite right to say that the first avenue to explore is to make sure you are getting all the available benefits:
- you should now only be paying single person council tax
- you should get child benefit
- you will be entitled to working tax credit/child tax credit
- your wife should be paying (at a minimum) 20% of her net salary to you in child support.
- if she earns more than 2 or 3 times your income then you may also be able to claim for spousal maintenance from her (and you can claim interim spousal maintenance while the divorce is in progress).

Also you may wish to revisit your general financial arrangements...e.g. make sure loans/mortgages/credit cards are managed efficiently at good rates of interest.

Good Luck

You should be able to cope

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