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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.


FMH

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23 May 12 #332481 by quarmbydavid
Topic started by quarmbydavid
I WOULD LIKE TO BUY MY SOON TO BE EXWIFE OUT OF THE FMH I HAVE MADE AN OFFER WHICH IS MORE THAN THE HOUSE IS WORTH IF IT SELLS BUT SHE REFUSES THE OFFER AS SHE SAYS I AM MAKING HER AND MY DAUGHTER HOMELESS SHE AS ALSO CHANGE THE LOCKS ON THE DOORS AND DOESNT PAY ANYTHING TORWARDS THE MORGTAGE WHAT CAN I DO NEXT.

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23 May 12 #332483 by Northernboy
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Well I''ve not made an offer for our FMH but I''m not allowed anywhere near it and I pay the full mortgage. Well I''ve stopped the mortgage payment and instead will be giving her CM which is half the mortgage . Don''t know what''s going to happen now so I''m just sitting, waiting and hoping that she will sell the house which has about 30-40k equity in it, but she said she would rather it get repossed so this is why I''ve stopped paying the mortgage.

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23 May 12 #332485 by Fiona
Reply from Fiona
Press on and reach a divorce settlement. IF you can''t reach an agreement between yourselves the options are to negotiate through solicitors or with the help of a mediator or start court proceedings. mediation is the cheapest option and does less damage to family relationships.

You need to be aware that any assets including pensions held in joint and sole names forms the value of the matrimonial pot. This is shared according to a checklist of factors in s25 Matrimonial Causes Act 1973 and the welfare of dependent children and their need of adequate housing is the priority.

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23 May 12 #332486 by Northernboy
Reply from Northernboy
What about the needs of the person who has left the FMH? Who can''t afford there own place if they are still paying for the FMH?

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23 May 12 #332489 by Fiona
Reply from Fiona
There needs to be a balance. Every case depends on the specific details. Although children are a priority it''s unlikely they and one parent will be left in a property that is more than adequate if that means the other parent is destitute. On the other hand if downsizing isn''t possible and there aren''t many resources all the equity may be needed to provide a roof over the heads of children.

The aim of a divorce settlement is to separate the finances as much as possible so that both parties are financially autonomous.

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