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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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Spousal Maintenance - how long for?

  • missguided
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17 May 12 #331116 by missguided
Topic started by missguided
Hi

I am being advised to seek SM as my STBX has a substantially higher salary than myself.

However, my question is how long is it normal for this to be paid for?

Until i co-habit for a period
Remarry
Period to get settled
Child reaching certain age (currently 4).

I am assuming that if i go for SM then I will get less as a lump sum from splitting assets.
I am just trying to weigh up if it would be better for me to request bigger lump sum and smaller (or shorter period) SM

Any advice grateful

Thanks
Miss guided!

  • jonathancj
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17 May 12 #331119 by jonathancj
Reply from jonathancj
There is no fixed answer for every case. Generally, the older you are and the less chance you have of making a more lucrative career, the longer you will get maintenance for. Remarriage automatically ends SM. Cohabitation doesn''t but it with most judges it''s very hard to persuade them to order SM to continue if you have a new relationship.

  • maisymoos
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17 May 12 #331122 by maisymoos
Reply from maisymoos
Spousal maintenance can be paid for a specified term with or without a bar to extension or for joint lives. If there is a bar to extension you will not be able to apply to court to have it extended after the fixed term

Whether it will be paid will depend on need, earning capacities and affordibility. A judge would also consider the overall asset split when considering if SM should be payable.

Certain triggers can be written in to the Consent Order where it will automatically stop being paid, common is remarriage, cohabition these days less so.

With a young child often a judge would grant SM at least a nominal rate. This may be £1, thisleaves the doorway open for you to apply for it to be increased in the future.

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