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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.


percentage split what is he entittled to?

  • kmm
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31 Mar 12 #321036 by kmm
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I have partitioned for divorce due to unreasonable behaviour. I owned a house before marriage, when sold I put £50k made on the sale of the house towards the new house my husband and I bought together. He did not put in any money at the purchase stage. We both purchased furnishings for the house and both paid towards the mortgage.

He had a flat share with his parents and sold his share when we moved in together. The money went into ISA’s in his name. Over the 12 years in our relationship (5 married) I have saved £17,000 in ISA’s. We are now divorcing, since we separated he has spent most of his ISA and wants 30% of the equity in the house and 30% of my ISA savings. I want to only give him 50% of the equity minus the £50k I put into the house, and each of us to keep our own ISA’s. If we cannot reach an agreement in mediation, if this went to court would he be likely to get 30% of my savings having spent his own, and 30% of the house?. We have 2 children age 3, they live with me, he does not pay any maintenance although he said he will when he gets a job.

  • MrsMathsisfun
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01 Apr 12 #321089 by MrsMathsisfun
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Hello welcome to wiki.

When did your stbx spend his savings? During the marriage or since the split?

As you are married all the assets even if they are in your name would be considered joint assets and he will be entitled to a share.

After a medium/long marriage( and 12yr would be classed as that)it is usual to consider all pre marriage assets have now been merged and therefore it will depend on the whole financial situation as to whether your 50k deposit can be ringfenced,

  • hadenoughnow
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01 Apr 12 #321091 by hadenoughnow
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The key here is going to be the cost oh housing you as parent with care and the children. Depending on gender your need is a 2 or 3 bed property. This may be the FMH. Ideally your stnc should have a similar property if there is enough in the pot to provide it .. with a mortgage if needed.

To advise more effectively we need a bit more information. Ages, length of marriage plus any cohab, incomes inc any benefits, pensions, savings, debts. We also need the market value and size of FMH and outstanding mortgage amount.

Hadenoughnow

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02 Apr 12 #321142 by kmm
Reply from kmm
He spent his savings after separation - he has gone to live with his parents so has no rent or food to pay for. He did however loose his job the same month we separated so has no income, and has not applied for job seekers allowance.

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02 Apr 12 #321144 by kmm
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i am hoping to stay in the marital home with the children. I can afford the mortgage at the moment. We have one boy and one girl, it is a 3 bed house. The house is valued at 285k, remaining mortgage 227k. We lived togther for 12 years, first in is flat, then in the house I bougout when we were together. We have beem married for 5 years. We are both age 38, the children are both age 3. Neither of us have pensions. I receive child benefit, child tax credit and working tax credit - this helps to pay the mortgage.

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02 Apr 12 #321150 by hadenoughnow
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By the time you take out costs of sale, there is only just over 50k in the property.
Would you be in a position to buy a cheaper 3 bed property? What is your income? How much mortgage could you raise in your own name?
Do you know how much his savings were and what he spent them on? It is possible they could be factored in to the pot as if they still existed if he has spent them frivolously.
One thing to bear in mind is the potential cost of going through the courts. Is he represented? Does he get legal aid? If he does, he would have to pay back from any settlement.

If he is not working, he is not in a position to buy. You could offer him sufficient for a deposit and a few months rent ... Perhaps this would be 30% of your savings ... rather than go to court and spend it on legal fees.

Hadenoughnow

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02 Apr 12 #321176 by kmm
Reply from kmm
I cannot get him taken off the mortgage at the moment, despite being able to pay it myself (and I have been for the last 3 months), the lender will not take him off because I am self employed.. My income is only 1500 per month.

I dont know what he has spent his money on, it wasn''t rent - I know he was drinking a lot for a few months after we split - he also had redundnacy money that has gone (since oct 2011, I dont know the value of the redundancy. He had around 9k in ISA''s, I have around 17k.

He is not represented yet and both of us would prefer not to go to court.

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