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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.


Not perpetuating myths

  • maggie
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02 Sep 12 #353370 by maggie
Topic started by maggie
Just pondering myths about pensions:
"Normally only pension accrued during the marriage is split 50/50."
From reading years of posts about pensions I don''t think this has any truth in it; repeating it gives it a dangerous credibility.

  • PetalsInTheWind
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02 Sep 12 #353376 by PetalsInTheWind
Reply from PetalsInTheWind
agree. Circumstances dictate how pension will be viewed.

  • sexysadie
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02 Sep 12 #353379 by sexysadie
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I also agree. This is only the case in Scotland. My solicitor certainly wasn''t of the opinion that I would be able to insist on this.

best wishes,
Sadie

  • letty
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02 Sep 12 #353380 by letty
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Not sure if this is relevant to this thread but STBX''s pension is the only real asset to deal with in my financials.

His solicitor wrote to me saying that has the majority of his pension was obtained prior to our marriage i would not be entiled to anything and please would i just go on my merry way and stop wasting their time.

i did not beleive this due to circumstances, and anyway at the hearing for MPS i brought the judge told him that he needed to supply a CETV and amended my application to include all pensions provisions.

he is still refusing to supply one - unless i pay for it but it certainly seems to me that the court is going to take his pension into account.

  • MrsMathsisfun
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02 Sep 12 #353386 by MrsMathsisfun
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But the ''''normally only the pension in the marriage is shared 50/50'''' myth isn''t the only myth in divorce.

How often do you read a '''' a split 60/40 in favour of the PWC is the norm.''''

Actually each situation is different and each financial agreement is based on the needs of both parties.

  • Fiona
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02 Sep 12 #353417 by Fiona
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In England & Wales though it''s quite common for divorce settlements to fall in the range between 50-70% in favour of the parent with the majority care. Whereas there may be a higher probability in some circumstances of sharing pension only accrued during the marriage 50:50 those circumstances are fairly limited so it isn''t "normal" IYCWIM.

  • MrsMathsisfun
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02 Sep 12 #353448 by MrsMathsisfun
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The split of the equity in the house may often fall within the range of 50 - 70%, but the split of all the assets is usually much closer to 50/50.

The pension split is much more dependent on the ages of both parties. If both parties similar in age 50/50 of all the pension more likely than if largish age gap.

The worse practise is when both pensions are added together then divided 50/50 because unless the pension are exactly the same this method will be unfair to one party.

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