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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.


Simple Case - how do you think this should/will settle?

  • Rickoshea
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12 Jun 20 #512815 by Rickoshea
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Presumably you’ve funded the household for the last 18 months also? What money has she been using to “live” for example?

As you are almost at FDR what sort of offers have been thrown around by solicitors and at mediation etc. to get you to this point that have been rejected?

  • freddie001
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12 Jun 20 #512816 by freddie001
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she walked out of mediation because the mediator said our housing needs were the same; and yes, i continue to pay for everything; as for her current living costs, she has access to some of our savings and has been using that ...so far, no offers have been made by either side yet ...hence gauging opinion in here!

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12 Jun 20 #512817 by Rickoshea
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The disparity in income is the problem. Whilst her reluctance to work won’t help her case either, the fact you have shown capability to fund for a prolonged period shows an ability to pay. The issue is so few people see cases of this now and each is so subjective that it’s hard to even guess as it can be down to the judge on the day. I think there will be some expectation of it but as per mine and other comments, capitalising it may be a suggestion but there’s also a chance that you’ll end up with a nominal order at least until the kids are a bit older. What has your legal advice suggested, they must have given some indications of a best/worst case from what they know of the field?

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12 Jun 20 #512819 by freddie001
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i've been steered towards the possibility of giving a bit more than 50/50 in assets - but on the basis that spousal maintenance is very limited (reason being that she is in early 40s, used to earn £50-70k a year, and can work again ...even re-start her career) ...so maybe spousal for a year to get back on feet, but no more given she's getting a mortgage-free house and will be able to claim lots of benefits before she starts work again ...and will get the child maintenance.

thoughts?

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12 Jun 20 #512821 by WYSPECIAL
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Used to earn £50-70k a decade ago. What did she do? Could she realistically return to the same industry? What retraining would she need? How long would this take?

You say she is getting a mortgage free house but bear in mind she already has one.

Given the ages of the children, disparity in incomes and length of time since she was last in work you can expect to pay SM for a lot longer than a year or accept a significant departure from a 50:50 split in the division of assets, maybe both

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15 Jun 20 #512859 by Vigorate
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freddie001 wrote: i've been steered towards the possibility of giving a bit more than 50/50 in assets - but on the basis that spousal maintenance is very limited (reason being that she is in early 40s, used to earn £50-70k a year, and can work again ...even re-start her career) ...so maybe spousal for a year to get back on feet, but no more given she's getting a mortgage-free house and will be able to claim lots of benefits before she starts work again ...and will get the child maintenance.

thoughts?


I am in a position similar to you. Earnings over 100K, ex-wife earnings nothing for over 10 years but used to earn 35k. I was told no way spousal maintenance for more than 2 years would be seen as fair and she would be expected retrain / get back into work to maximize her earnings.

In my case, solicitor recommended a bit more than 60:40 due to her housing needs (she has the kids) and my higher mortgage capacity. In fact, I was advised not to pay spousal maintenance at all and pay her mortgage for a limited period of time instead.

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16 Jun 20 #512865 by freddie001
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Thanks for that; interesting. There is definitely a shift out there towards a fairer equilibrium, but it seems it can still depend on the judge on the day. I know there's almost always animosity, but bottom line (for me anyway) is to just have a fair deal, and move on. A similar, but smaller, mortgage free house each (we share the kids), some child maintenance as standard and, if need be, a short period of spousal to allow her to get back on her feet (given she worked, earned 60k plus, and is still only young). I genuinely don't see how the outcome should be any different. What stage are you at ...have you had an FDA?

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