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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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Deposit mine or shared?

  • Gloriasurvive
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06 Apr 12 #321975 by Gloriasurvive
Topic started by Gloriasurvive
Just wondering, not got to legal nitty gritty yet, but I put £40,000 of my own money into our property many years ago. Now we will be selling, or me buying him out...
Do courts take into account my initial deposit or do they just split from here and now?
Thanks for any advice.

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06 Apr 12 #321977 by WYSPECIAL
Reply from WYSPECIAL
You would need to post more details of ages, incomes, children etc but if you are talking many years ago and a long marriage you would be looking at 50/50 of the total pot you have now.

  • Gloriasurvive
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06 Apr 12 #321979 by Gloriasurvive
Reply from Gloriasurvive
Thank you.
Yes about 14 years ago.
Children 15 and 11.
Unfortunately he is self-employed builder and I am on paper the higher earner.
He has a boat approx 40,000? That may be an asset?
Nothing else except MY teachers pension... which I believe he is able to go for half off.
We would only have about 50p each a week off that! :P
Oh well what''s money when you don''t have it ? :(

  • MrsMathsisfun
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06 Apr 12 #321983 by MrsMathsisfun
Reply from MrsMathsisfun
My partner was in a similar position in that he proved the deposit for his FMH. He was married for 10yrs and his solicitor told him it was unlikely he could ring-fence his deposit.

Although he did successful use the deposit as a reason why he shouldnt have less than 50/50 split.

Despite what the press are saying your teachers pension will be worth a lot at retirement so I would fight for a larger share of that rather than extra in the house.

  • Fiona
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06 Apr 12 #321988 by Fiona
Reply from Fiona
Modern marriages are viewed as a relationship of two equals. Where assets originated from becomes less important with the passing of time and generally the contributions of both parties are taken as equal.

Every case is treated separately according to the specific details. The welfare of any dependent children is the priority when splitting assets and in many cases assets are shared according to the needs of both spouses, in particular for housing. When there are enough assets to meet needs there may be arguments for exceptional contributions (eg assets brought to the marriage, an inheritance, assets accrued during a long separation by the efforts of one spouse alone) to be taken into account

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