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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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Asset split

  • newlife
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16 Jan 08 #10832 by newlife
Topic started by newlife
Having entered my details, the calculator says my wife could be entitled to 80% of our assets! This is at odds with my solicitor, my barrister and even my wife's barrister's opinion! I must admit to never having seen an 80/20 split. My circumstances are not unusual, house, business, childcare split (I have 3 nights per week) etc so I wonder whether myself and my legal team are living in cloud cuckoo land and the judge (as we are waiting for a final hearing) will shock us all with this kind of decision. Can anyone give me any hope that 50/50 is more likely?!:(

  • loobyloo
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16 Jan 08 #10835 by loobyloo
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Newlife
at my fdr...which was non conclusive and gone to fh.... the dj recommended a 50-50 (i have sole 24/7 kids he dosent bother with them)off assets a pension share and sm until i cohabit...hard to prove latter
so i would in my case lke to hope for 80-20 but highly unlikely i would say so dont panic
looby

  • DownButNotOut
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16 Jan 08 #10836 by DownButNotOut
Reply from DownButNotOut
Hi,

Could you cut and paste into a post the output of your generated report? Then i could probably comment.

Of PM it to me if you dont want to make it public.


- Was marriage long?
- Were assets all accrued during marriage?
- Did she bring significant assets into marriage?
- Is your earning capacity a lot lot higher than hers?


rgds

DBNO

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16 Jan 08 #10842 by newlife
Reply from newlife
Married 18 years
all assets accrued during marriage
she brought no assets
my earnings capacity is a lot higher

  • DownButNotOut
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16 Jan 08 #10843 by DownButNotOut
Reply from DownButNotOut
OK..

so it is the earnings capacity thing that is skewing the split away from 50:50.


What the calc doesnt do so well is handle the options you have to go for Clean Break vs 50:50 plus spousal maintenance.

It sometimes shows an asset split more towards what might provide a Clean Break (i.e. 80:20 for example)...but still (wrongly) shows full SM as payable also.

If you split assets 50:50 you will likely be in for a lot of years paying high spousal maintenance (30% or more of salary)

rgds

DBNO

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