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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.

20/80 now or 40/60 later

  • zippy123456
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  • Junior Member
31 Jul 12 #346472 by zippy123456
Topic started by zippy123456
We have just separated but are going down the route of divorce.

According to the calculator, because she has the kid (18 yr old at uni and 14 at home) the split is 20/80 in her favour which mean that I will need to get a loan to pay her extra as my assets are in my employer''s pension.

If I wait till my youngest is 18 then the split is 40/60 which is more reasonable but means that I will have to rent for longer before buying a house.

There is no mortgage an I pay £500 pm for child maintenance.

Do settlements take in to account how long the kids will be at home as a straight 20/80 split seems unfair?

  • happyagain
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31 Jul 12 #346478 by happyagain
Reply from happyagain
Depends on many things. See my other reply to your thread!

  • zippy123456
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31 Jul 12 #346494 by zippy123456
Reply from zippy123456
Me 47 Her 50
Income Me 60k Her 0 (off sick for 4 years and let go)
Kids 18 just finished college and 14
Pension me £160k her £15k
House 170k no mortgage - joint
Shares me £20k
Savings me £40k her £10k
Car me £25K her £6k
Debts me £50k her 0 (I had to buy a car for my new job as I travel 35k miles for work and it cost £35k but lost £10k as soon as it came off the forecourt). I needed the loan for the car plus previous things.

Married 25 yrs with a two year split 5 years ago at her insistence.

After 2 years apart she had a serious illness so I came back to help her recover. Now she is better she wants me gone again!

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This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.

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