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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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HELP PLEASE - probable settlement ??

  • Relate99
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13 Feb 08 #13824 by Relate99
Topic started by Relate99
Owned house since 1994 with no mortgage with current value of approx £100,000. Partner moved in 2001 and we married in 2002. Had child in 2003.
Have endowment policy with current cash in value of £8750 which does not mature until 2019, this was in my sole name from 1994 to 2003 when I added husband to the policy before the birth of our child. Husband has an ISA savings of £7500 and we have joint savings of £2000. We have 2 cars both registered in my name worth approx £4000 each.
My husband works full time with annual salary approx £25k, I work part time £10k, he has a substantial works pension (although only 36 years old at the moment)

What could I expect if this went to court for the finances to be settled? I would like a Clean Break, he says he wont make me sell the house, so would I be expected to sign everything else over to him??

Does anyone have a recent example of courts decision?

Thanks

  • attilladahun
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14 Feb 08 #13832 by attilladahun
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What do you estimate the House was worth at marriage?

With tax credits can you afford to live in FMH- ie what is mortgage?

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14 Feb 08 #13921 by Relate99
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Property has had no mortgage since 1997 when I paid it off, didnt get with partner til 2001 and we married in 2002 and house was worth about £50,000 then. I will earn enough with the top up of tax credits to stay in house and pay bills etc and my ex has promised he wants no equity out of the house, but I fear he will make me let him have every penny of our savings instead - being £7500 ISA, £3000 savings and cash in the endowment £8750 plus 2 cars worth approx £9000.

Do I have a hope of coming out of this with the house that was already mine and a few quid savings - or no hope??

Thanks

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