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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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Equitable split

  • Joseph42
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09 Mar 08 #16268 by Joseph42
Topic started by Joseph42
Hi I have a question. My wife and I have equity of around 350k. My wife earns £2666 a month, plus maintenance off previous spouse. I earn £1700. We will have joint custody of our 8 year old son. I also have stepsons of 15 and an 18 year old in fulltime education. What would be a fair and equitable split on the equity. My wife wants 60%? Incidentally if we split it 50/50 my wife would be able to keep maun home with mortgage of 85k. Incidentally I brought 85k to relationship of my own money.

  • LittleMrMike
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09 Mar 08 #16269 by LittleMrMike
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I don't know whether I have missed some great truth, but you say YOUR WIFE gets maintenance from a previous spouse.

If your wife has re-married any maintenance order in her favour would be cancelled, surely ?

Mike

  • sexysadie
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09 Mar 08 #16286 by sexysadie
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Mike, I assume that Joseph means that his wife has child maintenance with respect to the two older children.

Joseph, when you say you have joint custody of your eight year old, do you mean that you have shared care - and if so, is it equal nights with each of you? Who is the parent with care (i.e. the parent who looks after the child most of the time) will make a difference to the outcome. If it is your wife, then it seems not unlikely for her to get 60%, other things, such as pensions, being equal, particularly as she could argue in court that she needs greater equity to make up for the fact that you won't be able to pay all that much child maintenance.

Sadie

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