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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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Maintenance - No Dependant Children

  • Fizzy Pop
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07 Mar 08 #16090 by Fizzy Pop
Topic started by Fizzy Pop
I am divorcing my wife for unreasonable behaviour (actually adultery but she wouldn't agree to that being on the petition). We are both early fifties and have no dependant children (youngest now 21).
We have agreed to split our assets 50/50 - House, savings etc and also my pensions.
From the proceeds of the sale of the matromonial home she has bought a house which her father is funding the extra over cost circa £67K. Her cash savings are around £42k.
I work full time and my wife works less than part time. She is demanding £750 per month maintenance from me, which is down from the initial demand of £1250 per month. I am not a high earner £50k/pa and at the rate of £750 per month if she gets a full time job and nets £15400 pa in take home pay she will be receiving more net income than me. she is hell bent on taking this to court and although I have demonstrated that her projected outgoings are more than covered by her net income if she works full time. She is still adamant, regardless of the information and calculations that I have set out for her in simple terms that I pay her £750 per month maintenance. I have calculated that she can support herself on her net salary without the need for any maintenance from me.
Has anyone out there experience of a similar situation and the outcome ?

  • mike62
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08 Mar 08 #16128 by mike62
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Fizzypop,

In the issue of spousal maintenance, the over-riding factors are the needs of the one party versus the ability of the other party to pay.

As you have no dependant children and your wife has a house, her housing needs are met.

You both work, and albeit that she works part time, she could increase her hours. I assume that she or you have no particular special needs? Disability or illness?

You don't say what your housing will be - do you need to get a mortgage to obtain a home for yourself? Do you have any cash savings yourself? Is her £42K savings in the 50:50 asset pot?

All of these factors have a bearing on the outcome that may be expected in court. There is sadly no magical formula that gives you an accurate projection of the outcome - different judge - different day - different result.

It might be argued as reasonable that your wife increase her hours. It might be equally argued that your wife should receive maintenance for a fixed period (say 2 years) to allow her to adjust to her new lifestyle, but in early 50s that might be considered too late in life. However she is housed and has an income.

Perhaps if you post up a little more info about your ongoing housing, someone else may have further comment to make.

Whatever the outcome, you should seek to get a Clean Break agreement if possible. That would stop nay future claims on your income or any inheritances or windfalls you might receive in the future.

Best of luck

Mike

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13 Mar 08 #16662 by Fizzy Pop
Reply from Fizzy Pop
Mike Thanks for the reply.

I have savings of circa £32K (£10k less than her)

I am curently living with a lady I have met (post wife's adultery)but I will be looking to buy a house when I find something suitable cost and accommodation wise. Suffice to say my housing need has been met at this point in time.

Neither of us have any illness or disabillities.

I have supported my wife for nearly 2 years now in the mariital home paying all the household bills and allowing her to use my credit card to fund the weekly shopping and any other reasonably household costs including her petrol. I think she has had long enough to find full time employment and do not see why I should carry on paying to support her when I have demonstrated that she can support herself.

I think the Clean Break solution is the answer but it has to be on the basis of a 50/50 split of all assets and then each party works and maintains themselves, I will not and cannot afford give her a lump sum as it will destabilise my financial future and I do not see why I should.

I understand the comment about different day - different judge - different result which I find very frustrating and confusing.

I hope this gives a little more background and perhaps will give you the opprtunity to come back with some more advice.

Once again thanks for your response.

Kind Regards
Fizzy Pop

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