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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.


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  • confusedperson
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28 Jul 12 #345816 by confusedperson
Topic started by confusedperson
Hi I''d like some feedback on finances

W:38 professionsal, works part time £39k+child benefit, orking element of tax credits
H:47, has professional IT qualifications, but not worked in it for most of the marriage, usually not working or taking minimum wage jobs. currently unemployed on legal aid so i pressume claiming benefits

Marriage 12 years
Children live with wife 10,6,2.
Absolute has been granted, seperated 1year ago. NO MAINTENANCE whatsoever paid in that time.

During the marriage i paid for all childcare, holidays, cars (2)children''s costs- clothing, sch dinners etc and bills except water. I had to put children in holiday care when i working despite him being at home.

The house, in my sole name, was bought for 55k. i paid half with money from sale of previous property on marriage, and the rest i paid back to his relative on monthly imstsalments (can prove on bank statements), except for 6k which he paid.

He said he was going to do property development and i was pressured to invest. He has a 2 bed flat that he rents out, a house due to rennovate (but been like that for 3yr) and a property abroad that i have put 3k into

I have pension, he doesnt. i have savings (though rapidly being eaten by legal bills) approx 60k

What can i expect? now sorting form E. Im worried. This has been an abusive marriage and im concerned it will vcontinue through the finances

just to clarify H is able bodied fit and well!
comments plse

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30 Jul 12 #346257 by confusedperson
Reply from confusedperson
i should add he wants 50% of everything; i was thinkig 80-20 split as he contribute so little in the marriage and i am raising 3 children

any feedback appreciated

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31 Jul 12 #346298 by hadenoughnow
Reply from hadenoughnow
The financial settlement will be based on needs first.
What equity is there in the properties you mention?
Have you got a CETV for your pension?

Where is he currently living?

You may well get a larger share of the cash assets if they are needed to meet your housing needs and it is possible that the likelihood of little or no cm could also be recognised.
It is worth you contacting the csa but if he is on benefits, the most you would get is afaik five pounds a week.

Your income will not be big enough for sm to be an issue.
,
It is not worth spending a fortune arguing through solicitors. It may be best to get this into court asap to force disclosure and if necessary get a judge to decide the outcome if you cannot reach agreement.

Hadenoughnow

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31 Jul 12 #346374 by confusedperson
Reply from confusedperson
Thankyou for this. Have just found out the deeds of properties he own uk are in other poeples names now, so making application to court for section ?37 ?38 for them to hold assets. He has no mortagage so equity are 45 and 51k.

I have applied for CETV, 9months ago it was 55k - ive had unpaid mat leave, qualified late and been part time for most of it so not huge amount in pot.

Ive no idea where he is living...to date he has provided 4 diff addresses with court for diff matters

i am furious

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31 Jul 12 #346386 by hadenoughnow
Reply from hadenoughnow
what is the equity in your current property - the place where you and the children are living? Do you have an outstanding mortgage?

The most important priority will be housing you and the children.

Were these other properties in his sole name? You can check with the land registry when they were transferred and how much for ... If he is dissipating assets they can be factored back into the pot as it they still exist. A court would take a very dim view of this sort of activity. You can raise questions about these in your questionnaire once Forms E have been exchanged.

Your pension is unlikely to make much difference to any settlement as it is not large and you are a long way off taking it.

In another post you mentioned the equal contributions question. I was in a similar position to you so you have my sympathy. I think you can construct a case that show he did not contribute despite being at home just by demonstrating the payments you had to make for childcare etc. However tbh this is not going to be the biggest issue - the key here is needs.

Hadenoughnow

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31 Jul 12 #346400 by confusedperson
Reply from confusedperson
Thanks for getting back to me.
The equity in FMH £107,000 I paid for all except 6k, no mortgage.

His properties were in his sole name. I have given land registry deeds to solicitor - his name in spet, other names now, but there is no date of transfer on them. There is no mortgage on them according to deeds 45 and 51k.

I am in the process of collecting letters from organisations to say how much i paid and always been from my account (nursery, after school, holiday care) For 3 kids thats a lot of money. He also insisted i pay him the child benefit from my account which again i can show on bank statements.

I hear what you''re saying about the case for needs. We are in 3 bed semi. I need a 4bed in catchment area of schools so have printed off 3 properties from net - there are only detatched available in that area around £220k. i also need to support 3 kids!

Ok so im ranting now, but he is on legal aid, benefits etc. I got threatened with court if i didnt make an undertaking not to dispose of FMH (i wouldnt but its the hypocrisy)Have also been threatened with court if i dont pay for contact centre "because his legal aid doesnt cover it and your client is working"!!!!! Sickening

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31 Jul 12 #346402 by hadenoughnow
Reply from hadenoughnow
I am afraid it is unlikely a court would see your need as being for a four bed home ... the strict need with three children is three bedrooms.

With your income you could get a mortgage and be able to move to the kind of house you want using all of the equity from the FMH.

Is it daft to suggest that he has the other properties? Does he know that you know they have been transferred to other people? If he doesn''t, he would either have to confess that .. or accept the properties and have to sort it out himself.

It seems to me that the obvious solution here is to offer him to keep "his" properties and you keep the FMH which is already in your sole name. The savings could well end up being spent on legal fees so you may want to offer a small amount of hard cash (say £10k) - go away money if you like - that would otherwise have been spent on lawyers.

Your pension is sufficiently small and far off being taken that it is not worth considering really.

This would mean you have
FMH 105k (less costs of sale)
Savings £50k
Pension £55k (but not comparable with cash)


He has 2 properties total 96k plus say £10k in cash = 106k.

That is pretty much a 60:40 split of cash assets and you keep pension ...

It saves an expensive and nervewracking fight over the properties, gets him out of your hair and is probably close enough to 50:50 for him to be advised not to argue ...

I wonder if he realises he will have to pay back legal aid from any assets he has once settlement is reached/imposed?

Just a thought ....

Hadenoughnow

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