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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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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 and splits

  • divorcingonabudget
  • divorcingonabudget's Avatar Posted by
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30 Dec 20 - 30 Dec 20 #515182 by divorcingonabudget
Topic started by divorcingonabudget
My husband and I are divorcing but cannot agree on the financial splits or maintenance.

A few details:

Married for 7 years, living together for 20 years. I helped raise my step son, if that is relevant.

My earnings: £15050 (also UC £400, Child Benefit £140 a month)
His: £80000 plus bonuses (equating to around £100k usually)

House: Worth: £210k, left to pay £127k (the house is in his name only)

Our pension pot is worth around £170k (40k/130k).

We have 2 children, 9 and 13. They live with me and stay with him every other weekend for 2 nights, sometimes 1.

He will pay £950 a month child maintenance.

We are trying to sort out the financial splits, I cant afford solictors, he can. Here lies my problem.

Everytime I suggest a split, he flat out says no. He says I can have 50% of his pension (£70k) and 50% of the house, he is happy for us to stay in the house until the children are 18, at which point he wants to sell and split the equity. And will pay £300 a month spousal maintenance until the children are 18 or I move in with someone else.

I have asked for:

House split: 65/35 (my favour)
Pension: 35/65 (his favour
Spousal Maintenance: £400
child maintenance: £950
I will continue to cover the mortgage from my maintenance payments.

The online calculator suggested a 70/30 split in my favour and £1900 a month.

This isn't the first offer I've made, I've been doing as the solicitor advised by calculating all the values and trying to be as fair as possible. I'm worrying that in 10 years time, I wont be able to afford a mortgage based on my salary. I work in Local Government so there are absolutely zero chances of my salary increasing to anything significant.

I've had a quote from a solicitor which was starting at £5000, I just don't have that kind of money to pull out. Am I yet again, going to be subjected to money abuse from my ex, or are there other options available to me?
Last edit: 30 Dec 20 by divorcingonabudget.

  • WYSPECIAL's Avatar
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06 Jan 21 - 06 Jan 21 #515265 by WYSPECIAL
Reply from WYSPECIAL
Bear in mind that whatever you receive in spousal maintenance you will lose the same amount from your UC so it may be better to have a bigger share of the assets and no SM.

Your suggestion of 65% of the house equity and 35% of the pension pot gives you less than 50% of the total pot. Will you be able to take on the current mortgage and raise a further £29k in order to pay him 35% of the equity?

His suggestion gives you a greater share of the pot and also defers paying him his share of the equity for a number of years so may be the better option to negotiate around.

Are there any other assets such as savings?
Last edit: 06 Jan 21 by WYSPECIAL. Reason: typo

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