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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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Unfair division of property

  • mingray
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25 Jun 12 #338966 by mingray
Topic started by mingray
Hi,
STBX has asked for fair settlement to our pending divorce,

I am joint tenant of the FMH with a family member, house was purchased before marriage, and family member has not paid towards mortgage since day one and now lives elsewhere, although mortgage and deeds are in both our names.This was agreed at the time as I had the income to cover.

Forward 2 years and I married in 2001, wife neither on deeds or mortgage.
She has since moved out into rented accommodation, we share 50 /50 night stays with our child, she receives all benefits inc dla and child tax credits ect.

She has considerable earning capacity, but chooses to work only 20 hrs although probably earns same as myself in half the time, topped up with benefits for our child.

She states she wants 50% equity in the house, around £70,000 but I have stated as I only have 50% share, more like 25% would be payable.
She has brand new car, just received inheritance (which she claims is now spent), she wants savings, pensions and assets left out of settlement and is just interested in her cut.

Now where would I stand if I were to go part time, so I could look after our child, I am closer to school than her, and obviously she could go full time.Could I then claim any benefits and she would have to work like I do to support herself.

Any ideas welcome.

  • maisymoos
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25 Jun 12 #338968 by maisymoos
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I think you really need to fo back to the drawing board and start with financial disclosure. Looking at just equity in FMH and ignoring everything else does not make sense.

At this stage electing to go part time with the expectation that she will therefore go full time is also not sensible, and if you ended up in court would probably be viewed unfavourably.

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25 Jun 12 #338970 by cookie2
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Yep, I agree you need full disclosure. How much was her inheritance and what did she spend it on?

Savings, pensions and assets are all relevant, she can''t simply "leave out" all other aspects and just ask for half of your stuff. It''s part of the big picture and a court would treat it as such.

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25 Jun 12 #338976 by mingray
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25k...
spent on new car,course fees,cc payments cleared ect...6 months she says all gone!..

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25 Jun 12 #338979 by cookie2
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If it were me I would certainly want to see statements to prove what she is saying.

And the other savings, assets and pensions all need to be taken into account too.

She seems tot think that what''s hers is hers and what''s yours is joint. It doesn''t work like that.

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25 Jun 12 #338983 by mingray
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Does she have a valid claim for 50% of total equity??
I would have thought not?I am willing to offer her half my share and no more...

  • maisymoos
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25 Jun 12 #338987 by maisymoos
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Mingray

It is impossible to say what her total claim would be without having a full understanding of all
assets,
debts,
length of marriage including cohabitation
Children and ages
Respective Incomes including benefits
pensions.

If the property is jointly owned with an outsider only half the equity would be on the table though.

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