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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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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.


Maintenance court order & new family

  • cas50
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09 Aug 12 #348422 by cas50
Topic started by cas50
My wife of 20 years has issued court proceedings after 4 years of trying to reach a financial settlement. During this time I have started a family with my new partner and have two young children. I also have two children who are 18 & 20 living with my soon to be ex wife.

Will a judge simply award a third of my salary to her or will they be sympathetic to the financial obligations I now have for my new family?

Thanks

  • happyagain
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09 Aug 12 #348425 by happyagain
Reply from happyagain
It all depends on many things but the main focus will be marital assets. Sometimes, the needs of second families can be overlooked but I would think that with young children, the need to provide child care would be a high priority. Also, the fact that your older children are no longer dependants will be in your favour.
If you can post further details of ages, incomes, debts, etc. people will be able to advise.

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09 Aug 12 #348443 by cas50
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09 Aug 12 #348453 by maisymoos
Reply from maisymoos
Are there any other assets/ pensions? What are your respective pension transfer values? The likelihood of paying spousal maintenance cannot be considered alone but will be considered alongside the other asset/pension split.
How old are you and your ex wife?

Does your new partner have an income including benefits, Child tax credits/ benefits etc. Although your new partners income will not be directly considered it may be taken into account as there are two people able to contribute to your household expenses.

It is worth putting together a reasonable needs sheet based on your monthly expenditure this will help you to see what may be affordable.

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