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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.


Inheritance

  • hiccup
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15 Nov 07 #6722 by hiccup
Topic started by hiccup
Hi there,
Just signed up to the forums yesterday and want to say hi and ask a question regarding inheritance.
Simply if i received notification of an inheritance due to me before i got married to my short term partner of six months. Can part of said monies be claimed by that person if I later married them and we decided to divorce three years later.
It took two years to actually receive the cash as no will was made and was dealt with in the U.S.
I thank anyone who could give me some guidance on this.
:)

  • Vail
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15 Nov 07 #6723 by Vail
Reply from Vail
Hi hiccup,

This is a tricky one. In a short term marriage it IS possible to have something like your inheritence 'ring-fenced' but I think it'd be the advice of a barrister you'll need which begs the question whether the amount in question warrants the expenditure on trying to find out if it can be 'ring-fenced' as a non-matrimonial asset.

Be aware that co-habiting prior to marriage can be added onto the length of the marriage.

Another way round it is to try to agree with your xtb that it'd be fairer to leave it out of the pot although somehow I doubt that will go down well.

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15 Nov 07 #6743 by hiccup
Reply from hiccup
Hi Vail,
Thank you for your words of wisdom. The sum was 80k but I dont think anyone would win an argument about it except the solicitors.
Interesting comment you make about the time living together being able to be added to the marriage. We opted for mediation and I think I would go straight to a Lawyer if I am ever in the same position again.
I just need to sort the Consent Order out now.
Once again thank you for your reply.
:)

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15 Nov 07 #6748 by Vail
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Hiccup!

Please don't rush hastily into the arms of a solicitor. mediation has the possibility of being cheaper, quicker and most importantly less stressful.

If you are about to sort out a Consent Order then you are a fair way down the route, well done....

... and Good Luck!

  • Fiona
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15 Nov 07 #6757 by Fiona
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15 Nov 07 #6761 by hiccup
Reply from hiccup
Hi Fiona,
Thanks for your reply. I can see exactly where your coming from and I agree there probably isnt much to gain. Thing is I was mostly happy with the mediation but did not like the way they kept saying that it was a short marriage and I shouldnt expect more and that I had a good offer. Our relationship will be six years old in May and we were married after 8 or nine months of meeting.
We bought a house for 143k and I did all the workand its just valued at 185k. I have been the main earner and have spent as I have earned. We bought the house Tennants in common which according to the mediator meant nothing. Ooop musnt go on. If you take my inheritance out of the figures I get the 23k I had when I met her plus 12k.
Dont get me wrong I am a happy sort of chap but its flat or bedsit land for me at 56 years old. Must add that the wife had her divorce settlement and put most of it into the house.

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24 Nov 07 #7557 by attilladahun
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The case to rely on is Foster v Foster

In such a case the parties get back what they had before marraige and share the growth during the marriage

This can be displaced as Fiona says if the inherited asset was "used " by the parties it can become a mat asset.

Also can be displaced by "need" -say if W has C and she needs more £ to meet her reasonable hsg needs.

If tho you made the error of putting the house in Joint Names whilst the Crt can adjust the shares the TR1 transfer form after 1998 contains a "Declaration of Trust" section and if held a Tenants in Common the Court will usually follow the declaration.

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