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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.


fair settlement

  • Jenny Tyler
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02 Jul 12 #340629 by Jenny Tyler
Topic started by Jenny Tyler
Hello
Any advice please on a fair settlement.

Home value = 175k
Outstanding mortgage = NIL
Married 12 years, Cohabited 4 years
No children.
He''s 52 years old, i am 42
Salary me 18k him 26k
Debts - car loans, him £12k, me 7k
He had an inheritance of £70k which paid off the mortgage when we last moved 3 years ago.
He had flat when i cohabited with him worth around £36k.
I have only been working on and off for the past 12 years, as i had a bad car accident that left me with some medical problems.
Due to this he''s been paying the mortage all of the time.
I have been paying into a pension for the last 3 years, he''s had his pension for the last 24 years. I don''t know its value.
He has offered me £10,000 to have a Clean Break as soon as possible without any court proceedings.

Any guidance would really be appreciated.

Thanks in advance.

  • spooky
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02 Jul 12 #340630 by spooky
Reply from spooky
welcome to Wiki.

Someone will come along soon to give you a better idea of what you are entitled to.

Try and see if there is a Solicitor in your area who offers a free half hour and then make a list of all your question. Most family law firms will offer this.

Do not agree to anything before getting some advice. The starting point is 50:50. There will probably be a Clean Break as there are no children.

Have a read round the forum topics that will give you some idea.

Take care of yourself and don''t sell yourself short.
x

  • sexysadie
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02 Jul 12 #340641 by sexysadie
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He''s offering you £10000 for a Clean Break after a 14 year relationship when you have a mortgage-free house worth £175000 and he has been paying into his pension for 24 years? He is really trying it on here.

Tell him that this is not acceptable and that you want a proper settlement with full financial disclosure. You should be able to get a good proportion of the value of the house plus a pension share. After a relationship that long it will all be counted as marital property.

It''s not possible to have a Clean Break without court procedings. Even if you come to an agreement between yourselves it will still have to be signed off by a judge with at least a basic outline of your financial circumstances. No judge will sign off something based on his proposal if you have not had legal advice.

Best wishes,
Sadie

  • Kitsi
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02 Jul 12 #340651 by Kitsi
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There is no way this is fair
Did you mean he has offered you £100k rather than £10k as I can''t believe you would see that as fair.

As for his pension - you are older and have less time to make your pension up before you retire. You will will be entitked to a good proportion of that and not leats becauseo of your health needs. The min you are enitled to is half of the contributions he made during the 14 years you were together
I am 53 and stbx is eactly 42 so I am inthe same position as you AND I had to have three years off because of a car accident.
PLEASE PLEASE PLEASE don''t go for this it is a terrible offer if it is ten k and a poor offer if it is 100k
You will need the CETV Cash Equivakebt Transfer Value of his pension and if he won''t disclose it your solicitor or the Judge can order a Pensions Actuary to be appointed £1500 for the one day he will spend looking at your husbands affairs BUT you will split this cost between you.
I just BET he doesn''t want you near his pension. Has he stocks? Shares? do you know? the fact that he inherited while you were married means the inheritance became joint marital money when he used it to pat off the mortgage, Get a good lawyer and NOW"

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02 Jul 12 #340654 by Kitsi
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Sorry I read you were older than him but even so what he is offering you is NOT FAIR.

  • Jenny Tyler
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02 Jul 12 #340667 by Jenny Tyler
Reply from Jenny Tyler
yes his offer was 10k and my heart sank as i asked him to confirm the amount. i know he would not be forthcoming with any details on the pension fund and i also know that he has some shares. i did not know "inheritance became joint marital money" is this legal? sorry my husband has ranted on about this many times to me saying its HIS money and i have absolutely no right to it.

  • NoWhereToTurnl
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02 Jul 12 #340673 by NoWhereToTurnl
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Do not accept, this is not a fair settlement, tell him you need time to think but, only if pushed. Will PM you x

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