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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.


bankrupt, so what is in the marital pot?

  • debbiemorgan
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16 Nov 12 #366548 by debbiemorgan
Topic started by debbiemorgan
i have Nisi, but not Absolute, have been waiting for 2 years and during this time i have been made bankrupt. Stbx still owns their half of the house, i have a small pension,similar values.
stalemate ensues, as i have nothing, low earnings etc,to obtain Absolute i expect to have to go to court, will i be expected to give up my entire pension, there are 3 children, i pay CSA and ex still lives in x marital home but now her home after my bankruptcy.
many thanks

  • .Charles
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16 Nov 12 #366582 by .Charles
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If the pension is small it may not be worth cashing in for the bankruptcy. Previously I believe that pensions couldn''t be touched by the Trustee in bankruptcy but I think that has now changed. I may be wrong.

Normally when one party is bankrupt the other party has to make a claim in Ancillary Relief and any order made by the court will be binding upon the Trustee. However, this does not mean that you can agree to give everything to your spouse.

Your spouse will have to make a case for claiming more than 50% from the matrimonial pot on account of the children. This can be quite difficult if there are complex assets and liabilities as the Trustee can be quite immovable at times.

Have ancillary relief (financial) proceedings been issued yet?

Charles

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16 Nov 12 #366597 by debbiemorgan
Reply from debbiemorgan
no, nothing agreed, small progress was being made but then due to enormous debt i was made bankrupt, that is over now , the year has passed. divorce(court hearing) was "indefinitely postponed" presumably because i didn''t have anything except the pension which of course, while we are still married she would receive if i died....so no incentive for her to do anything now. i would like my divorce though.

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