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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.


Settlement

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09 May 12 #329377 by Agatha22
Topic started by Agatha22
Any advice on if I''m being reasonable in my request.
FMH = 260k
Outstanding mortgage = £50k
Married 28 years
Both 53 years old
Salary me 54k him 75k
No debts
He had an inheritance of £130k and 50% of a family business which he doesn''t work in (net worth of business £500k)
I have only been working the past 12 years as I was at home with the children who are now 22 and 24 years old.
I have been paying into a pension for the last 10 years, he''s had his pension for the last 24 years. I believe the CETV to be £200k.

I have asked for a settlement of £200k.

He thinks I am being totally unreasonable.

Any guidance would really be appreciated.

Thanks.

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09 May 12 #329487 by jonathancj
Reply from jonathancj
How long ago did he receive the inheritance and interest in the business?

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09 May 12 #329509 by Agatha22
Reply from Agatha22
he received it 8 years ago,

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14 May 12 #330404 by jonathancj
Reply from jonathancj
The rule of thumb is that needs trump contributions. So if you can show a need which can only be met with recourse to his inheritance, his inheritance won''t be ring fenced. Half the marital assets will provide you with about £100k, which is unlikely to be enough to rehouse. There may well be a pension sharing order, clearly. How much you will get will probably depend on what your realistic housing budget is.

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14 May 12 #330450 by Agatha22
Reply from Agatha22
Thank you so very much for the reply, it does help to clarify things. £100k would not help me to rehouse, which was why I have asked him for £200k, this would be a substantial deposit and mean that I would be able to have a small mortgage. I arrived at the figure by capitalising maintenance payments due to the disparity in our salaries, and also the vast difference in our pensions. To me I felt it was a fair offer and left him with the inheritence untouched. He is staying in the family home valued at £260k, I have seen a house which is £229k.

Thank you again for your response.

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