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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.


Division of Assets

  • admirals90
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29 Mar 12 #320676 by admirals90
Topic started by admirals90
Hi,

I have been unhappy in my current marriage for a number of years and have been considering divorce. However I am hesitant on how much this could cost in respect of division of assets.

I have been married to my wife for under 5 years, we have no children although she has a child from a previous marriage. Would our marital home be divided 50/50 even though I have provided for everything, my wife works part time but her income goes towards supporting her child and has not contributed to any of the expenses for the home - mortgages. bills etc.

I appreciate there may be no hard and fast rules.

Thanks in advance

  • MrsMathsisfun
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29 Mar 12 #320696 by MrsMathsisfun
Reply from MrsMathsisfun
Welcome to wiki.

Your in a difficult position, because although this is a short childless marriage, there is a child to consider.

Whether she would get 50/50 would depend upon the whole picture.

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29 Mar 12 #320703 by admirals90
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Thanks for your reply, ignoring the division of the assets would I have to pay maintenance towards the child?

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29 Mar 12 #320708 by MrsMathsisfun
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As the child father is already paying child maintenance for the child you wouldnt be liable for child maintenance.

What was the mother situation before you married?

Was she renting?

Usually in a short marriage situation both parties retain asset prior to the marriage and any profit is shared, however because of the child your stbx may be entitled to a share of the house because the needs of the child are considered the most important.

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29 Mar 12 #320712 by admirals90
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We had a flat prior to our marriage which is being rented, would I be able to give up my claim to that property and allow them to move back to the flat and for me to keep the house?

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29 Mar 12 #320723 by MrsMathsisfun
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I think that sounds reasonable, but I wouldnt like to comment on whether it would be considered acceptable.

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29 Mar 12 #320729 by admirals90
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Thanks for all your help

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