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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.


Divorce settlement

  • abbeynational
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30 Jun 12 #340199 by abbeynational
Topic started by abbeynational
I''m divorcing my husband of 20 years for adultery. We have been separated for 5 years. We have two children one 15 living with me, one 18 working and living with him. He earns £180000 per annum before tax, rents a property for £1674 month plus £975 month car loan, plus lots on credit card eating out holidays etc. I work 16 hours a week earning £10 an hour. I am still in family home which when sold we may have £80000 equity. We also own some undeveloped land abroad worth about £50000. My husband has a pension fund at present worth £127000 he is 48 I have no pension and am 49. He presently pays mortgage at £670 interest only. Was repayment before but he changed it before he left to finance his life style. We are going to court next week for financial hearing any advice on what I might be awarded? Very worried about where I am going to live and what I wil live on and how I will survive after retirement. Very worried advice/experience appreciated. I have a solicitor but he doesn''t seem to be able to give me a clear answer. Also one last thing but quite a biggie, running out of money to pay legal bills so may have to go on my own to court! Advise on that?

  • LittleMrMike
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02 Jul 12 #340447 by LittleMrMike
Reply from LittleMrMike
Depends what you mean by a clear answer !

Given the wide nature of a judge''s discretion, it is almost impossible to give accurate predictions, as you more or less can when assessing child support, I think most solicitors would give you a best case and worst case scenario, and the result will probably be somewhere in between.

So if it''s an accurate prediction you want, I can understand why a solicitor doesn''t want to be too committal.

But I''d say this. Firstly, if you have not already reviewed your tax credits, do so now.

Secondly, the fact that you have a dependent child is highly relevant. It is possible that you could be given the right to live in the FMH while your child is still dependent. It may well be that you will have to downsize, if not now, then when your son is no longer dependent. It may be desirable not to force a sale yet if doing so would disrupt his education. But his housing needs are met, and I think there is a good chance that you could have enough to buy a house, if not now, then eventually,

You must have a substantial claim for spousal maintenance and a pension split, which would be expected with a long marriage.

This is one of those cases where legal representation is necessary as you will probably be opposed by a barrister of considerable experience.

I can''t advise you on the likely outcome but your claim is a substantial one and you really must not jump ship now. At least I''d have thought not.

LMM

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02 Jul 12 #340655 by abbeynational
Reply from abbeynational
Thank you for taking the time to reply and your don''t jump ship advice is really appreciated as I do feel like I am being squeezed at the moment.

Sadly new up date 15 year old now wants to live every other week with her Dad! The effect of this on our relationship is a worth and the financial effect is another pressure.

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