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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.


Spousal Support / Spousal Maintenance

  • bettergolf123456
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11 Jun 12 #336159 by bettergolf123456
Topic started by bettergolf123456
HI

I am looking for some help and advice please

I am currently getting divorced and i am sorting out the financial affairs

I currently earn nett £3700 per month take home.

I am paying £750 per month child support and have also offered to pay on top £600 per month Spousal Support.

My Wife then gets £800 in benefits and earns around £300 also

I have offered to pay the Spousal Support until she re-marries or cohabits with someone for 6 months.

Or for 10 years which is when my youngest is 18 unless one of the events listed is reached.

I have also agreed to take £30k in family credit card debt. Agreed not to sell the house until she remarries or cohabits, then it is sold and she will get 70% and i will get 30%

I have no pension and no assests

We have been married for 12 years and i am 42 and she is 39

The point i need help on is the length she wants it to have no time specified so if she cohabits i have to still pay, unless i go to court and get it reviewed

I really want to have the time limit put in but i dont know how i stand legally as her solicitor said it should have no time limit

  • PetalsInTheWind
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11 Jun 12 #336162 by PetalsInTheWind
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I assume it is two kids from the child support figure. How is childcare split(%)?
On the surface it looks as if she and you are surviving on similar ammounts (after you pay maintenance) and her benefits appear to be tax credits. If you expect to cease paying SM when the kids become adults (and CM ceases)and she loses her tax credits at the same time she will be forced to live on a significantly smaller amount and on the surface it looks as if she is unlikely to be earning anything close to what you will be at that stage so she might need the money then. What is her earnings potential? This would impact the outcome.

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11 Jun 12 #336164 by bettergolf123456
Reply from bettergolf123456
HI

Yes you are correct it is for 2
Childcare is as below
Tuesday i collect them from school and have them for tea and then take them home.
Wednesday i collect and take them to school so she can get to work.
Thursdays i have them over night
Fridays i take them to school
Saturday i have them every other Saturday night
Sundays i have them for dinner when it is not my weekend

I dont mind so much paying a revised spousal maintenace after 10 years if she is not cohabiting but also she has 10yrs of earning capacity while recieving support
Its the no time limit once she cohabits that i am uncomforatable with.

Her words to me today were "what if i move someone in who hasnt got a job"

Advice would be apreciated

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11 Jun 12 #336165 by bettergolf123456
Reply from bettergolf123456
Sorry

Should have said on earning potential she has an NVQ3 in childcare and i have offered to have the children more so she can do her degree.

  • survive
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11 Jun 12 #336166 by survive
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Hi,

i am not an expert in any of this, but it seems to me that you are paying a more than decent amount to your ex and that she has got an extremely good deal so far.

I would have thought that if it went as far as court, which I hope for your sake it doesn''t then the ''norm'' would be on any spousal maintenance, if awarded, until she re-marries or co-habits ( 6 months seems a fair amount of time or maybe even a year). If the person didn''t have a job, well quite frankly that is not your lookout.

As benefits will stop as the children get older, again it is deemed that the mother would have a greater earning potential as the children would be off hand, so to speak.

Survive

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11 Jun 12 #336179 by PetalsInTheWind
Reply from PetalsInTheWind
If you earn approx 65k gross per year(with potential to rise) and she has NVQ3 in childcare her max earnings will be approx £9/hr for 40 hr week. £18750 MAX per year. I understand if she cohabitates she should not get maintenance but other than that I reckon she will need it.

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11 Jun 12 #336180 by bettergolf123456
Reply from bettergolf123456
hi

thats fine and i appreciate i have responsibilities. She would have 10yrs to retrain and progress and i am happy too support and take more care responsibility so she can go to college. and after 10 years then review the support

It is just that she does not want a time limit on the cohabitation so i would still have to pay untill i got a court order.

That is the part that i feel is unfair and i was unsure how a court would see it

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