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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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Married less than a year - do take his debts?

  • cath3r1ne
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11 Mar 13 #383698 by cath3r1ne
Topic started by cath3r1ne
I''ve been married seven months and I''ve realised it was a big mistake. I''m looking into how I can get out of this but realised that he has about £20k + debt (that I know of) from a previous relationship (not marriage though). If I do go ahead with divorce proceedings, could he insist I take half of his debt?

  • NoWhereToTurnl
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11 Mar 13 #383700 by NoWhereToTurnl
Reply from NoWhereToTurnl
Hi cath3r1ne,

Welcome to wiki, I am sorry your relationship has broken down but you will get lots of advise and support from the site.

Firstly, you are not able to apply for a divorce until you have been married 1 year so would not be able to Petition until the day after your 1st anniversary.

With a short and childless (presuming you have no children together and did not have a long cohabitation prior to marriage), the general rule is that you both take out of the marriage what you brought into it. You would not be expected to take on debt from his previous relationship.

Even though you are not permitted by law to petition until 1yr has elapsed, it is well worth gathering financial documents/information now. If you are still living in the marital home and decide to move out, these documents could go missing.

Hope that helps,
Best wishes,

NWTT.

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11 Mar 13 #383715 by cath3r1ne
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Hi, Thanks for responding. How long is considered to be ''not long'' for co-habiting? When we met I owned my own house and he owned his, but after we got married I sold mine and we lived in his but we had been living together a good two years in one or the others houses before we got married. None of the debt was taken out during this time though. I''ve also bought him a truck for his business on my credit card so thats in my name and I expect to have to pay that off. I''d walk away from the house and everything in it but really didnt expect I''d have to take on all his debt from before as well. I''ve not asked him for a seperation yet, but am just wanting to know where I stand before I make any final decisions. I guess all the above would have to be considered in mediation though?
Thanks again.

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11 Mar 13 #383736 by NoWhereToTurnl
Reply from NoWhereToTurnl
Hi,

Its ok, 2yrs would not matter, if it was 9 or more or you had young children, it could make a difference. It should be quite simple sorting out the divorce, if you can both agree, you could use the fixed wiki service for divorce and Consent Order.

Best wishes,

NWTT.

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