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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?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Consent order calculations

  • andrews
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29 May 12 #333733 by andrews
Topic started by andrews
Help!
The Judge considering the Consent Order in my divorce has rejected it on the grounds that ''he will not approve an order on a percentage basis of the husbands income for the wife nor children''
This strikes me as very odd and I wonder if it is normal? If my income goes up or down (which it will as soon as my divorce is granted because of the changes to my tax code, if I change jobs or get a bonus etc etc a percentage agreement strikes me as totally logical. Any fixed figure would require me to apply to court for a variation possibly on a quarterly basis. Is there any way of fighting this?
Andrew

  • hadenoughnow
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29 May 12 #333737 by hadenoughnow
Reply from hadenoughnow
andrews

Welcome to wiki. I would imagine the judge is taking the view that regardless of changes in your income, your ex''s fixed costs for housing etc will remain the same.

CM is done on a percentage basis through the CSA but SM is a matter for the court. If CM is ordered by a court, that order can revert to CSA after 12 months.

Sometimes there is a global maintenance order - SM and CM combined.

It may be possible to agree a rate for SM that is affordable on basic income and a percentage of any bonus payments?

How did you draw up the agreement? Did a solicitor prepare the Consent Order? Have you both had legal advice?

Hadenoughnow

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29 May 12 #333762 by andrews
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Hi,
thanks for the advice. The agreement was drawn up between solicitors some time ago although I am no longer represented for reasons of affordability!
I will suggest a fixed monthly payment based on a percentage of my current salary but a percentage of (any)future bonuses. If Judges normally reject percentage deals it is frustrating that so called ''divorce lawyers'' don''t advise on this. Forget that last comment....I should be well used to ''following instructions'' as a defence for building the fees!
Andrew

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29 May 12 #333766 by dukey
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Its not easy to guess what the problem is without seeing the wording of the actual order, i would agree with Had though, it sounds very much as though it was drafted to be a % and that would cause a heap of problems should court need to enforce the order.

The best way forward is to have a fixed amount and then you an the ex can adjust it without court, its only when you disagree after the order is sealed court become involved.

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29 May 12 #333769 by Fiona
Reply from Fiona
Maintenance on a percentage basis is fraught with problems. IT would be necessary to determine what is income, how to verify it and by whom, how often should there be a review etc etc. To cover all eventualities would require reams (eg child support rules and regulations. ) For that reason maintenance is usually a fixed amount, perhaps rising annually with inflation.

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30 May 12 #333961 by WYSPECIAL
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andrews wrote:

Help!
The Judge considering the Consent Order If my income goes up or down (which it will as soon as my divorce is granted because of the changes to my tax code, if I change jobs or get a bonus etc etc a percentage agreement strikes me as totally logical.
Andrew


Why will your tax code be changing as a result of your divorce?

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