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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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Omg settlement offer!

  • redwine47
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13 Jun 12 #336527 by redwine47
Topic started by redwine47
Been in negotiations with stbx & legals:

His offer as follows :
House 195k mortgage free 50/50
Pension H. 325 k. & W 39k 60/40 to him
Savings endowments 100k. 60/40 him

Based on the fact he brought an inheritance into marriage 10years ago!

Me unemployed left job to look after children cause of inheritance. 1 living at home age 12.

Him 52k salary.

Am I daft cause I think this
is way unreasonable!
...................

My legals suggest house 60/40. Me
Pensions. Savings 50/50

If offsetting pension to me 35%

Getting nowhere my legals suggest cld go to hearing but cld be taking a chance... Judge mite consider inheritance....most of which spent!

Any help greatly appreciated. Review tomorrow.

  • hadenoughnow
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13 Jun 12 #336533 by hadenoughnow
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erm

Percentages are not a helpful way to look at this. What is important is how much capital you need to meet your needs as PWC.

How much will it cost to house you and the child? Your strict need is for a 2 bed property.

Do you want/need to stay in the FMH? CAn you afford to live there?

TBH I cannot see why the split should not be - house to you 195k (66%)
- savings to him (34%) (judges like to keep things simple).

Am slightly puzzled by length of marriage .. was there cohabitation beforehand?

You may feel 60/40 in his favour on the pensions is fine if you get the house.

I would imagine there would be some SM .. at least to allow you to get back into the job market, retrain etc.

Hadenoughnow

  • WYSPECIAL
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13 Jun 12 #336550 by WYSPECIAL
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redwine47 wrote:

.. Judge mite consider inheritance....most of which spent!

Any help greatly appreciated. Review tomorrow.


Judge can only consider what is there. If it''s gone it''s gone.

Child is older than length of marriage so presume you lived together?

Can endowments be cashed for £100k now?

  • redwine47
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13 Jun 12 #336553 by redwine47
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Child is 12. Meant inheritance rcvd 10 years ago Married for 23 years. Cohabitation 1 year.

Endowments already matured.

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13 Jun 12 #336595 by WYSPECIAL
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Can you afford to run house on your own? Do you want a Clean Break or SM?

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13 Jun 12 #336597 by redwine47
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I Can afford to run home if I get reasonable % of saving & sm until I get work.

If not above I can''t afford a cardboard box!

Are my expectations of settlement to high? I will also have to pay stat charge re legal aid out of proceeds.

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13 Jun 12 #336611 by WYSPECIAL
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Are you claiming all the tax credits you can and is he paying child maintenance at or around the CSA amount?

I''d have thought you would be lucky to get all of the house and some of the savings. How big is current house? Could you downsize?

If he got the £100k savings as a deposit what size mortgage would he need to buy a suitable house for himself?

You mention an inheritance that is nearly all spent. How much is left and is it included in the figures you have stated?

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