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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.

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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Division of assets

  • Andora
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26 Mar 12 #320100 by Andora
Topic started by Andora
Having been widowed 9 years ago I remarried my present husband 6 years ago.

I was left very comfortably off by my late husband with £40000 pension and a house in a trust fund. I initially did not want to get re-married if it meant I would lose my pension, however my now husband reassured me he would take care of me financially.

I subsequently found I would not lose my pension and we married 6 years ago. After returning from honeymoon, he then said he wanted me to put all my pension into joint accounts ie under his control but I refused. I also had £300000 in investments and I have given half of that to my children over the last 3 years to help with house purchases. He then insisted I contribute £1800 per month to a housekeeping account which I did for 14 months.

He was supposed to put his house where we live in our joint names for my security as I had given my house to one of my children to live in long term rather than let it out. He went back on that promise.

Then 2 years ago I said I was not prepared to continue with the monthly payments and reduced my payment to £1000 per month. I should add that I pay for all my own clothes and paid for my own car purchase. He in the meantime had started giving his daughter £1000 per month. He had previously handed over his business assets to his son which was nothing to do with me. He has a monthly income of £8000, of which he pays £3000 per month for housekeeping, plus investment income from £500000 invested and a house now worth £500000, valued at £250000 when we got together.

He is a control freak and is very mean to me personally, for example he gave his grandchildren cheques for £2000 each last year and bought me a purse for my gift!! This is all because I would not add my pension to the pot. I have lost any respect for him, his lies and broken promises are too many to mention. We have a comfortable lifestyle and use of a home abroad owned by his company, and in which I have no security. He is 10 years older than I and although he says he has looked after me in his will, he could change that anytime.

I am very stressed and am considering that divorce would be better. He also resents when I visit my children and grandchildren twice a year for only a week at a time and won''t come with me. How would our assets be split if I do pursue divorce and would I have to leave our home (his house)? The housekeeping account covers golf fees (3 clubs, one abroad) gardener and housekeeper, 2 car expenses plus house expenses. We are both OAPs.

  • WYSPECIAL's Avatar
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26 Mar 12 #320101 by WYSPECIAL
Reply from WYSPECIAL
Not sure how things work in Scotland as far as asset division goes but it is fair to say that you are both very comfortably off with no dependants so providing enough for both of you isn''t going to be a problem.

  • rubytuesday
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26 Mar 12 #320102 by rubytuesday
Reply from rubytuesday
Welcome to Wikivorce.

Any assets that were acquired prior to the marriage are not considered to be matrimonial assets, and would not form part of the "pot" for dividing. It would only be those assets acquired during the length of the marriage that would be divided (bar gifts and inheritances).

Assets are split on a fairly even basis in Scotland - unless otherwise agreed between the couple. Although the matrimonial home was bought by home before marriage, you still have an interest in that house as it is the family home. The house that is in a trust fund for you, is that somewhere you could move into? Unless he gets an interdict to remove you from the house (or rather, prevent you from living there), you have a legal right to remain living in the house - but living in the same house as someone you are divorcing is extremely difficult, emotionally.

  • Andora
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26 Mar 12 #320187 by Andora
Reply from Andora
Thank you so much for your reply. I would have to ask my son to leave the house which I don''t want to do as they are building up their businesses and it is a help to them. I had a house abroad which I sold on remarrying and gave my kids their share of it so I would be without a base abroad where I have lived for the last 12 winters. I just feel he has built up his assets at my expense and I would not be able to go back to the standard I had before. I don''t mind cutting down, just mad that I should have to. I would rent if necessary, but it would depend on what money I was left with.

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