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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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STB Ex run up huge debts before Consent Order

  • Panicked
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17 Aug 17 #495602 by Panicked
Topic started by Panicked
He left marital home over year ago. Promptly spent 'alot' of money on cars, parties, post apartment etc.. Now financially in a rut. It was always verbal agreement that I would have profit from family home (my original family home was sold to finance this one). Upon sale of property (4 months ago) he signed letter to solicitor handling the sale, confirming his agreement to all funds being paid into my account. He has skills to earn big money (in 18 months he could earn the full settlement of the home).

Decree Nisi has been granted, but only now has he realised what a mess he is in financially and is demanding more funds. To help him out I have already transfered approx 25% of the profit, to settle his immediate debts (rent etc..) He is now saying that he is entitled to half, even though I have a 17 year old and 12 year old living with me. Unfortunately the Consent Order was not completed prior to him realising that the purchase of 3 high end vehicles, party life style and high end living were beyond his means. His Ltd company is on its knees, owing HMRC. I have a very nasty feeling that if left to the court to decide they will include all his debts accrued after our seperation. I may not want to hear your comments but feel I have to face head on whatever is coming.

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17 Aug 17 #495604 by WorldsBiggestMug
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It's easy to be pessimistic, but I would very much doubt, based on the limited information you have given, that he would be entitled to 50% of the equity.

If it goes to court you will need to build a case based on the agreement you had originally come to (even if the only hard evidence is that solicitors letter). Your arguments as to why that agreement was fair at the time would include the fact that the debts he built up are non-marital, your difference in earning potential, and the fact you have the children.

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