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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.


Do you need help sorting out a fair financial settlement?

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.


Property I bought after we seperated

  • Tonger
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28 Feb 08 #15318 by Tonger
Topic started by Tonger
I seperated from my wife just over 5 years ago. When she asked me to leave I walked away with nothing only the debt she had run up. We were living in a council property at the time. It took me 3 years to get turned around and be financially sound. I now want a divorce. I have bought a house since we seperated, and want to know if she is entitled to any of my assets? I have a daughter who is 10 years old and have made volutary payments to my ex for the 5 five years we have been seperated. I recently started to pay maintenance through the CSA because she was denying I gave her any money. (Which I proved through bank statements I had)

I am obviously wanting a divorce but don't know what she is capable of doing. I'm afraid she will wipe me out again and I will have to start all over again.

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02 Mar 08 #15546 by DownButNotOut
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Tonger,

Unfortunately .. because you did not sort out a final financial agreement when you separated, then when you divorce your wife is likely to have a claim to 50% of your current assets.

Equally you can claim 50% of her assets.

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02 Mar 08 #15550 by Tonger
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Cheers for that. Going to get some legal advice definately on Monday. Is that 50% of the money I've got invested in the property or 50% of the value of the ptoperty? Just when you think you've turned your life around, here we go again! Got to laugh or I'll be in a straight jacket!

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02 Mar 08 #15556 by smalik
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My advice to you would be that Sell your house or remortgage,take out loans etc and then proceed with the divorce. If there no equity in the propety then she cant get anything or you can be sure that a judge will defintely give something.
Remember judge are biased and in law they have to consider the housing need of the child and this will cause you the problem.

Dont rely on the system to get you justice, set the ground rules thats the only way you can get justice in england divorce system.

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03 Mar 08 #15589 by Fiona
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Trying to dispose and/or conceal assets isn't the way to go and will make matters worse. There is an argument that assets acquired or created by one party after separation might qualify as non-matrimonial property if it could be said that the property in question was acquired or created by a party by virtue of his personal industry and not by use of an asset created during the marriage.

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03 Mar 08 #15597 by smalik
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Fiona are you solictor ?

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03 Mar 08 #15603 by Tonger
Reply from Tonger
This sounds like the most "reasonable" out-come and how the law SHOULD work. However it seems to always come down on the side of the one who has done nothing to contribute to anything, either in or out of the marraige. Alot is left to "chance" and thats the problem here. I will fight tooth and nail on this one. Very worrying. I never had anything for the 23 years we we were together, she had control of the money. Now I have rose from the ashes, have something to leave my daughter and provide well for her. If my ex has a claim on my assetts, my daughter will be the loser. I'm not getting any younger and don't know if I could start again.

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