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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.


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Your estimates on division

  • SilverFir
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07 Oct 12 #359678 by SilverFir
Topic started by SilverFir
I''ve decided I have nothing to hide by posting in here, so long as I keep it factual. I doubt STBX can dispute any of what follows.

I''m looking for your estimates of division here. The main issue is division of net proceeds of sale of the house, and whether that should be adjusted from 50:50 in his favour.

Ages: 42 (both)

No children from the marriage.

Cohabited 2 years, married 11.5 years, separated 3.5 years

Reason for separation - Adultery, though I''m told this is irrelevant when it comes to financial proceedings.

Incomes at separation: £20K each

Incomes now: me £20K; him ZERO (mature student)

Potential incomes in future: me £20K, him £30K+

Outgoings? Trickier!

Me: I''m with a new partner, we have a disabled son, partner is full-time carer for son. We rent a house which we had to furnish from scratch. My earnings are the only income into household. Outgoings = entire Income!

STBX: Currently living with family, but still paying costs for FMH. He kept all furnishings etc.

Assets: cars of equal value, pension funds of equal value, nothing else. We both had savings of £3K at separation but suspect we''ve both spent that.

Liabilities: me None; STBX probably student loan.

FMH: value £100K, probably sell at auction for £80K, net proceeds estimated £50K. Both contributed equally to deposit of house, and to mortgage & household expenditure during marriage.

Situation:
  • STBX chose to stay in FMH following separation, was working, mortgage and all costs of FMH while I paid rent for new home elsewhere.
  • House went on the market but no success at sale.
  • STBX made decision after 18m to move out and become student (zero income), left FMH empty, did not ask if I wanted to move back in (didn''t even tell me what he''d done for a few months), did not ask me at that time to resume contribution to mortgage & bills. I presumed he''d made suitable arrangements given his decision (we weren''t exactly talking!)
  • After 18m of studying (so 3y separated) he announces (realises?) he can no longer afford mortgage & costs, so starts nagging me to contribute - but I have no spare income due to paying rent etc for my own home.

  • I''m guessing the question comes down to whether I am responsible for the costs of the FMH after he decided to give up his job and move out. I know he has no plans to move back, and the house is probably going to auction soon.



    Please let me know if more info is needed. Thanks.

    • SilverFir
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    11 Oct 12 #360490 by SilverFir
    Reply from SilverFir
    Bumping as no response ...

    • anna200
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    11 Oct 12 #360494 by anna200
    Reply from anna200
    50/50 seems fair..you don''t say if x is agreeable to this ..you could waste thousands going to court so it would be better if you could agree on that

    • june1
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    27 Jan 13 #376512 by june1
    Reply from june1
    I am finding the result of the calculator difficult to understand. With regards to maintenance, I presume the last line of the calculation the ''husband should pay the wife £.... is the figure the husband should pay the wife for both child and spousal maintenance. Is this correct?

    • Lostboy67
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    28 Jan 13 #376562 by Lostboy67
    Reply from Lostboy67
    june1 wrote:

    I am finding the result of the calculator difficult to understand. With regards to maintenance, I presume the last line of the calculation the ''husband should pay the wife £.... is the figure the husband should pay the wife for both child and spousal maintenance. Is this correct?


    Hi June1,
    You are not alone in finding the results of the calculator difficult to understand, it has baffled the wise and good people ow wiki for a while. I''d suggest you start a new thread with the details and someone will be able to offer some thoughts on settlment.

    LB

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