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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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Please fix the calculator or take it off line!

  • ByeByeLove
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16 Mar 08 #16943 by ByeByeLove
Topic started by ByeByeLove
The Divorce Calculator stressed me to no end and could have been written by my wife. Looking at the forum, others have obviously also been upset by it. The 70/30 asset split seems to be hard coded.
Please get it fixed ot remove it. I am attaching my data so that it helps you troubleshoot the progam.

Distressed



Divorce Calculator Output
Your Wikivorce estimate for ancillary relief is based on the following parameters:

General:
The length of the marriage was 20 years.

Income:
The wife's net monthly income is £80.
The husband's net monthly income is £4600.

Children:
The number of children from the marriage is 0

Wife's Monthly Outgoings:
Essential outgoings: 720
Childcare outgoings:
Lifestyle outgoings: 386

Husband's Monthly Outgoings:
Essential outgoings: 2518
Childcare outgoings: 135
Lifestyle outgoings: 345

Assets:
Joint matrimonial property:
- Chattels valued at £10000
Total : £10000
Wife's property:
- Valuables valued at £10000 (value at marriage : £0)
Total : £10000 (Total value at marriage : £0)
Husband's property:
- Former matrimonial home valued at £300000 (value at marriage : £0)
- Other property valued at £180000 (value at marriage : £0)
- Pension CETV valued at £350000 (value at marriage : £0)
- Car(s) valued at £10000 (value at marriage : £0)
- Savings valued at £1000 (value at marriage : £1000)
Total : £841000 (Total value at marriage : £1000)

Processing Assets:The total value of assets you entered as joint assets was : £10000
We add to this joint pot the increase in wife's assets since marriage : £10000
We add to this joint pot the increase in husband's assets since marriage : £840000
We add 10% of wife's assets (valued at marriage date) for each year of marriage, which is £0
We add 10% of husband's assets (valued at marriage date) for each year of marriage, which is £1000

The joint asset pot is: 861000
The wife's asset pot is: 0
The husband's asset pot is: 0

Liabilities:
Joint liabilities:none
Wife's liabilities:none
Husband's liabilities:
- Mortgage valued at £-180000 (debt at marriage : £-0)

Total : £-180000 (Total debts at marriage : £0)
The net joint assets are worth : 861000
The net wife's assets are worth : 0
The net husband's assets are worth : 0

Splitting the assets:
Next we share out the net joint assets based on factors such as:
length of marriage, relative incomes, who cares for any children.

Wife's share: 70%
Husband's share: 30%

Wife's total share of net assets is : £602700
Husband's total share of net assets is : £258300


The Wikivorce estimate for ancillary relief based on the above parameters:

Maintenance calculation based on outgoings data:

The wife has been allocated the following:
- basic (incl childcare) needs £720
- lifestyle needs £386
A total budget allocated of £1106

The husband has been allocated the following:
- basic (incl childcare) needs £2653
- lifestyle needs £345
A total budget allocated of £2998

The husband should pay the wife maintenance of £1602

Maintenance calculation based on household/childcare data:

The wife has been allocated the following:
- basic (incl childcare) needs £936
- shared contribution £936
- share of excess income £234
A total budget allocated of £2106

The husband has been allocated the following:
- basic (incl childcare) needs £936
- shared contribution £936
- share of excess income £702
A total budget allocated of £2574

The husband should pay the wife maintenance of £2026

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16 Mar 08 #16948 by wikivorce team
Reply from wikivorce team
ByeByeLove,

Sorry that you were stressed by the calculator output.

It does have several warnings attached to say it only gives a rough guide.

The calc gives a reasonable output for the majority of cases and is being used 100s of times every day.

Hovever it clearly does need 'tuning' and thanks for posting your details, we will take a look at them and use it to revise the calc.

Perhaps some of the solicitors on the forum could take a look at ByeBye's case and suggests what they feel is a likely settlement range.

I think what may be taxing the calculator logic is that you have high asset value available to split and high earnings differential.

The 70:30 type split is more prevalent in lower asset cases where needs outweigh assets.

In higher asset cases such as yours then closer to 50:50 is more typical.

  • ByeByeLove
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16 Mar 08 #16963 by ByeByeLove
Reply from ByeByeLove
Thanks for your quick reply. And thanks for suggesting that somebody may help me in figuring out what would be a fair settlement to both my wife and me.

BBL

  • alexanda
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25 Mar 08 #17634 by alexanda
Reply from alexanda
BBL

Read your post. I have equally been flumoxxed by the calculator..... especially on the pension bit as it seems to take CETV and just turn it into cash which of course you cant do.
Suggest you look out for attilladahun and ask him if he can give you a steer. He has been very helpful to me.

Regards

alexanda

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