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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.


Do you need legal advice on a fair financial settlement?

We offer a consultation with experienced family solicitor for a low fixed fee. You will receive legal advice and a written report outlining your legal position and setting out what a fair settlement would look like based on your individual circumstances.


Financial Settlement

  • orientalpoppy2
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25 Mar 12 #319975 by orientalpoppy2
Topic started by orientalpoppy2
I have used the calculator and wondered if this can be correct:
18 years of marriage
Income Husband - £1000 pm
Wife - no income
Children:
The number of children from the marriage is 1
Child 1 stays with wife for 7 nights per week and with husband for 0 nights per week.

Wife''s Monthly Outgoings:
Essential outgoings: 950
Childcare outgoings: 700
Lifestyle outgoings: 1600

Husband''s Monthly Outgoings:
Essential outgoings: 1000
Childcare outgoings:
Lifestyle outgoings: 1400

Property = : £487200
Liabilities = £-356520
Wife''s share: 90%
Husband''s share: 10%

Wife''s total share of net assets is : £117612
Husband''s total share of net assets is : £13068


Could this be a realistic outcome?

Thank you so much.
;)

  • sillywoman
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25 Mar 12 #319987 by sillywoman
Reply from sillywoman
Your income includes child maintenance, child benefit and child tax credits and JSA or income support.

  • Fiona
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25 Mar 12 #319988 by Fiona
Reply from Fiona
The calculator is good at crunching numbers but it can''t take account of individual circumstances. It seems a bit odd that W has no income but pays £700 for childcare and both spouses are claiming the total amount of lifestyle outgoings is £3k when it appears the only source of income is H''s income of £1k. Have you worked recently and what are your ages? Are there any other assets such as a pension fund?

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25 Mar 12 #320004 by orientalpoppy2
Reply from orientalpoppy2
Hi Fiona,
The wife worked but has been unemployed for 15 months.And, so far although W has attended 12 interviews has not been offered a job. H is 53 and W is 48. Each has a pensions pot of £16k. The child is 19 and Asperges and W looks after the child. Maintenance has been paid by H ,£150, but sporadically.

H and W have lived in this country for 15 years.

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