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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.


Expectation re. House

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29 Mar 12 #320632 by G.Utted
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Bit of a newbie here but could do with some guidance as am trying to reach a fair settlement with my wife.
House and mortgage is in my name and we have c200k equity. We have been married 8 years and have both worked in good careers but my net earnings are about 30% more. We have a 5 year old daughter and have agreed to split care 50/50 ie we will both need somewhere to live where we can look after our child.
I''m expecting to split the equity 50/50 and not have to pay any spousal maintenance ongoing as here earnings are perfectly sufficient to rent/buy something suitable and keep a good standard of living - is this reasonable? Obviously i would be happy to happy any child maintenance required but as we woudl be splitting care 50/50 this may not apply?

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29 Mar 12 #320641 by cookie2
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It''s impossible to say that kind of thing without all the figures. Percentages are no good.

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29 Mar 12 #320644 by G.Utted
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no worries. My net income is £3600 and her''s is £2600. Custody split 50/50. No other assets to speak of. Is this enough for some general guidance?

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29 Mar 12 #320645 by cookie2
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No, I''m afraid not. We would also need:

1) Your respective ages
2) The house value and outstanding mortgage amount
3) Your respective pensions
4) Would 50% of the house equity be enough for you each to buy your own house of suitable size?

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29 Mar 12 #320649 by G.Utted
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we''re both 34, married for 8 years.
house valued/sold at £430k. Mortgage (in my name) at £226k.
We''re agreed that pensions are not part of the discussion. We both have provision that is pretty much the same.
50% of the equity would provide for a 30% deposit on a 2 bed flat each with mortgage payments of around £1200 pm which would be affordable for both of us.

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29 Mar 12 #320653 by cookie2
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That sounds like a good starting point for negotiations, then.

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29 Mar 12 #320654 by G.Utted
Reply from G.Utted
Thanks! What are your thoughts on SM? Would it be merited in addition to a 50/50 equity split and assuming 50/50 childcare split?

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