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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 from self-employed ex

  • mustbejoking
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15 Jun 12 #336868 by mustbejoking
Topic started by mustbejoking
Hi I''ve been told I qualify for spousal maintenance, and child maintenance. We have two children who will be living with me, but stay with him at weekends, and I am (recently) disabled.

My hb is self-employed and does his own accounts. Does anyone know if maintenance is calculated on earnings before tax, or on earnings after tax, in this situation? Also, I assume that it''s based on income minus expenses?

My hb''s income varies from year to year. Would he be expected to pay me a percentage of expected earnings each year?

Or would they work out a figure, based on average earnings over the past few years?

Thank you for any help or advice.

  • NoWhereToTurnl
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15 Jun 12 #336906 by NoWhereToTurnl
Reply from NoWhereToTurnl
Welcome to wiki,

So sorry about your situation, you have come to the right place and will get lots of support from all the great people on here. Ask as many questions as you want, there is always someone who has experienced the same as you.

If you could give some more information it will help the wiki community to give you more detailed responses.

Length of marriage and cohabitation prior to marriage
Yours ans stbx ages
Number of children and their ages
value of FH outstanding mortgage
Housing needs/arrangements for both parties
Benefits receiving
earnings/salary of both parties
Value of any endowments
Value of pensions
Any other assets

I know it sounds a big ask but you will see it time and again as you read other posts.

Best wishes and (((( Big Hug ))))

  • survive
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15 Jun 12 #336910 by survive
Reply from survive
Welcome to Wiki and to re-iterate nowhere''s welcome message.

I''m afraid I no nothing about spousal maintenance but child maintenance is based on declared earnings, less any reduction for number of nights children spend with ex. For 3 children it is 25% of net salary.

Good luck

Survive

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20 Jun 12 #337833 by mustbejoking
Reply from mustbejoking
Hi,
Married 13 years.
Co-habited 2 months before wedding.
Both age 37.
2 children age 5 and 10.
Own our home £270,000 value.
No mortgage.
Hb moved out 4 weeks ago, now staying with his Mum. I stayed at home with kids. He has them at weekends.
We plan to sell house, and split money.
I need 3 bed house (around £160,000)
He needs 2/3 bed flat (around £120,000)
I am self-employed earning £3,000 per anum but no potential to earn more due to my (recent) disablities. I used to earn £27,000 per anum until 3 yrs ago when I became ill with a progressive disease.
He earns at least £22,000 per anum (self-employed,should be able to get a mortgage).
Now we are separated I have applied for council tax benefit. As a lone parent,
I get Child Tax Credit £5,000 per anum
and Working Tax Credit £4,000 per anum. I think these will stop when kids are 18.
I am disabled and get DLA.
We have no endowments, no pensions and no other assets.
What would be reasonable to ask for?
Thank you.

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