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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 help sorting out a fair financial settlement?

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Maintenance

  • Simie61
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10 May 12 #329626 by Simie61
Topic started by Simie61
Can anyone answer the following question i have.

I am about to Petition for divorce and will be applying for residence of the children and also to keep the house. Obviusly I will have to "buy the wife out", even though the house and mortgage are in my name only.

If I do this, does this reduce or negate the need for maintenance payments?

Thanks

  • rubytuesday
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10 May 12 #329627 by rubytuesday
Reply from rubytuesday
Are you talking about spousal maintenance? SM is based not just on her needs, but also on your ability to pay.

  • maisymoos
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10 May 12 #329630 by maisymoos
Reply from maisymoos
Hi Simie

A judge would consider the split of equity when considering periodical payments, but as Ruby has said it is about need and ability to pay.

It will make no difference if the marital home is in your name, it will still be regarded as a marital asset.

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