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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.


Stop the Madness. Renting an expensive property

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22 May 12 #332233 by Goodtimes1
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Hi,

My stbx is looking to move into an extremely expensive house and we haven''t exchanged form E yet! I am staying in FMH and planning to pay a lump sum but he is seeking places with far higher outgoings so that he can increase his settlement. We hv 1 daughter and splitting residence. Can anyone advise what the position will be on this when we negotiate? I work, he doesn''t.
Many thanks.

GT x

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22 May 12 #332236 by cookie2
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From where will this lump sum come? How is he going to buy this house, will he be getting a mortgage? If he doesn''t work then how will he do this?

It is likely that any expenditure of this kind would be taken from his share of the marital assets.

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22 May 12 #332251 by Goodtimes1
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I am remortgaging to pay lump sum, and he is going into a rented house.

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22 May 12 #332254 by cookie2
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Do not do this until you have a Consent Order signed and stamped by the courts.

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22 May 12 #332261 by Goodtimes1
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Why what are the risks for me?

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22 May 12 #332262 by cookie2
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The risks are that, after he has got the lump sun, he will change his mind about the settlement and as you initially fear, may deliberately increase his expenditure or liabilities in order to get more out of you. You state that he does not have a job. So lets say he goes into rented accommodation with a lump sum, and starts using this lump sum for "everyday expenditure" such as food, rent, living costs, new furniture, etc. Then when it comes time to divorce, the lump sum is gone, so he could claim a need for more of the equity from the house, to re-home himself. Since he does not have a job and very few assets, then he would presumably get legal aid, and an application to court would cost him nothing. Someone with nothing to lose can be very awkward.

Besides you say he is moving into rented accommodation? So why does he need the lump sum? If he''s happy to rent then I would suggest he does this until the Consent Order is signed, and then he will get his lump sum. It''s also an extra bit of motivation for him to not stall the divorce process.

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22 May 12 #332266 by Goodtimes1
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