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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.


Collabrative Law, health, children, etc!

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07 Dec 07 #8603 by Rainbowss
Topic started by Rainbowss
Hello - I've just discovered this forum, and was wondering if anyone might be able to offer any suggestions please?

We are attending meetings with our solicitors under a collaborative law framework and will get a divorce asap.

Whilst the calculator is showing a 70/30 split for me, these meetings are saying I'll only get 50% max.

Length of marriage - 22 yrs

Children: - 1 at university until 2012 (will live with me)
1 at school until 2010, then uni for probably 5 years (will spend 50% of time with each of us).

I have heart failure and will be unlikely to be able to work.

H has demanded at least one of the life policies 3*100k (you can see why!)
H will inherit £250-400k in the future.
H has full time secure work, £40k pa now, rising to 50k min by retirement) with final salary scheme pension.
House value £790k
Both aged 51.

There are more pensions, transfer value £130k which is transferable, and £32k in H's name not transferable, and £36k in my name.

He is pushing hard for 50:50 split of house, and also 50:50 of income (inflation linked 1.5% or so, no other increases) with no regard for his inheritance or potential income or my health.

Should I be thinking of going to court? Or am I unlikely to get more?
He says he can't live on any less than 50:50.

I'd be very grateful for any comments and help - thank you!

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07 Dec 07 #8616 by Fiona
Reply from Fiona
Ignore the calculator, whilst it's good at number crunching it doesn't take account of individual circumstances. The overall picture is the consideration and an equal division of assets is appropriate, unless there is good reason to diverge from that. Assuming there is no mortgage your housing needs can be met with 50% of the capital so there is no reason I can see to move from 50:50.

Maintenance of 50% appears to take your health and inability to work in to consideration. What is proposed happens to the pensions?

Inheritances are a grey area, especially potential ones, and as everyone's needs can be met from the other assets I believe the inheritance is unlikely to be included in the 'pot.'

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07 Dec 07 #8624 by Rainbowss
Reply from Rainbowss
Thank you!

Pensions - He keeps his final salary schemes and 32k, I would get the 130k to invest as a pension, which is estimated to produce pension of 3-7k pa.

Last question - is it usual to keep the life policies on divorce?

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07 Dec 07 #8625 by Rainbowss
Reply from Rainbowss
Sorry .. also, he is refusing to pay anything towards child 1 who is at uni - again, is this a reasonable stance?

TIA

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07 Dec 07 #8628 by Fiona
Reply from Fiona
Don't get me going on maintenance for students! :evil:

Here in Scotland all parents have a legal obligation to support their offspring until the age of 25 whilst in education or training. End of story.

Unfortunately in E&W it isn't so clear cut, but under Schedule 1 of the Children's Act 1989 the 'child' can apply to court for maintenance from separated parents.

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07 Dec 07 #8631 by Rainbowss
Reply from Rainbowss
Thank you again!

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