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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.


Unfair asset split!!

  • garywales
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17 Dec 07 #9171 by garywales
Topic started by garywales
I am preparing for judicial separation, which I hope will be amicable, after a 33 year marriage. My wife and I have discussed the financial aspects, and we were both happy to split on a 50/50 basis all capital assets, plus our personal pensions, despite my pension being almost 10 times the value of my wife's.

Neither of us wish to spend too much money on solicitors etc, but I was quite shocked, when I useed the Divorce Calculator on this site, to find that our capital asset was split 70% to my wife and 30% to me! Plus a 50/50 split of our pensions - can anyone illuminate me as to why such a large proportion of the capital, all of which I have accumulated, should be awarded to the wife??

  • attilladahun
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17 Dec 07 #9172 by attilladahun
Reply from attilladahun
Gary no one can calculate anything from your information

After 33 years of marriage clearly your W will get 50% of capital & pensions.

If there is a large differential in incomes then SM will likely be paid until the pensions kick in

The only reason the calculator appears to you overgenerous is it has presumably capitalised the SM aspect

Ages of H & W
Incomes of H & W?

  • WornOut
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18 Dec 07 #9180 by WornOut
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Gary

The length of my marriage is 31 years and my solicitor has advised that the court will look to a 50:50 division of all assets.

My ex refused to make adequate pension provision for himself, so only has a fund value of about 15k. I have been told that I will be expected to top up his pension fund (pension sharing order)with a % of mine, to address the difference between our respective funds.

When determining the division of the assets, the court has to take into account a number of factors; these can broadly be viewed as the 'immediate and long term needs of you both'. I have never used the divorce caclulator, but to get a 70:30 split of assets, instead of 50:50, I am guessing that the figures you input suggest your wife has a greater financial need than you.

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18 Dec 07 #9200 by garywales
Reply from garywales
Thanks for your replies - particularly interested in what "wornout" had to say - the situation with me is reversed from yours, inasmuch as it is I, and not my wife, who has accrued by far the largest pension. As I am already in receipt of my pension, as indeed is my wife, (albeit hers is about 10% of the value of mine) we were both happy to split all assets and pensions 50/50 as our needs will be exactly the same after we sell our matrimonial home, i.e both homeless!.

I just had a bit of a shock when I saw the result of the Divorce Calculator - much relieved to hear the advice given by wornout's solicitor!

  • attilladahun
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18 Dec 07 #9248 by attilladahun
Reply from attilladahun
Gary it will be 50 50% Capital & Pension

When SM is payable depends on circumstances of the case.

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