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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.


financial advcei

  • sandrotaylor
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01 Jan 08 #9796 by sandrotaylor
Topic started by sandrotaylor
this is my first post so please be patient , i am on the verge of divorce from my wife and we are starting to argue regards the financial aspect
at the moment i still pay the mortgage on MH at 720 pounds a month , on top of this ia m paying her 380 ponds a month maintenance
the house is on the market and when we sell we should clear approx 26000 after all mortgage and debts are paid
my wife states that her solicitor said that she is intitled to 60% of the profits of the house , is this true ?
also she wants 500 a month in maintenance after the sale of the house
i only take home 1350 a month but do have cash in hand work that tot als 1600 a month which she knows about obviously

what do i do and what is she entitled to
please help

  • Specialdad
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01 Jan 08 #9799 by Specialdad
Reply from Specialdad
Its 50/50 of the net assets and no maintenance unless there are children.

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01 Jan 08 #9800 by sandrotaylor
Reply from sandrotaylor
thanks specialdad , yes there are 2 children and i wouldnt begrudge them anything but just think she is being unreasonable about the amount

  • katherine
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01 Jan 08 #9801 by katherine
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Hello, i've also just joined this website. I am also getting divorced but I was under the impression that it is up to the judge as to who gets what amount. I have been told that it is 50/50 without children but the affordability of both parents to be able to house the children is taken into account.

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01 Jan 08 #9802 by katherine
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Hello, i've also just joined this website. I am also getting divorced but I was under the impression that it is up to the judge as to who gets what amount. I have been told that it is 50/50 without children but the affordability of both parents to be able to house the children is taken into account.

  • LittleMrMike
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01 Jan 08 #9805 by LittleMrMike
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Sandrotaylor,

If you have dependent minor children, then you will have to pay child support. Basically it's 20% of your net salary, but there are a few variations and tweaks - go to the CSA website where you will find a calculator.

You don't say how old the children are and how long you have been married. When resources are limited ( and I suspect in your case they are ) then the primary concern of the Courts is to meet the needs of the children, first and foremost, but also of you and your x2b, and percentages are not nearly so important. You don't say whether your wife works and whether it is reasonable to expect her to earn a living.

I have always believed that in relatively low income cases, meeting the needs of both parties requires a good deal of creative thought and a good knowledge of benefits. It may well be that, by the time you have paid your child support, you will not be able to afford much in the way of spousal maintenance on top of that, if any.

The Court has to consider a whole range of factors set out in section 25 of the Matrimonial Causes Act 1973 and you will probably find them on this website somewhere. It's useful to go through these and try and work out how they apply in your case, what factors are relevant and which not. I think you need to start thinking about what your needs will be - where will you live, what are your outgoings likely to be, and try and do a guestimate of what your wife and children will need too, bearing in mind that child support is calculated by reference to a statutory formula and the Courts don't have much discretion about it. I think a visit to a CAB would be helpful for you, because I do not rule out the possibility that your wife may need to rely, at least in part, on benefits.

Can I stress that you must be allowed enough to live on. That is the bottom line, and if you can't afford to pay your wife what she needs, well she has to rely on benefits if necessary. Don't get too hung up on percentages.

Katherine

The said section 25 requires that the Courts consider the welfare of dependent children as a priority, but that doesn't mean the parents don't matter either. 50% is a general starting point, but there are many factors which can justify a departure - short marriages, disabilities if any, but first and foremost the needs of the family ; if the children's needs call for a percentage split greater than 50% in favour of the parent with children then the Court will do just that - but no Court is going to make an order which the potential payer can't reasonably afford.

Problem is, madam, you haven't given me anything like enough information to give you any more than general advice which is not likely to be much use. Don't forget, there is no law which says that you can't agree between yourselves as to who gets what and who pays what ; as long as the agreement is fair, the Court should uphold it and it's a lot cheaper than having a fight in Court. Don't forget - the more you spend on lawyers the less there is for you. At least consider the possibility of mediation. If you can supply more info then I might be able to give you a better idea.

Mike 100468

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02 Jan 08 #9849 by katherine
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Hello Mike, I'm beginning to realise that this whole thing is more complicated than I first thought. Mediation is a good idea but in my case social services have been involved and the thought of sitting around a table with my husband is something I just can't cope with at the moment.

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