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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.

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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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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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Business liquidation on divorce

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02 Aug 12 #346880 by revenge
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Hi my husband split all the finances in our accounts between the 2 of us. He has a limited company which he is 55% and I 45% shareholder. He split the retained profits in that % age. He has now asked for the money back as apparently his accountant has informed him it as to be done by the receivers, and cannot be done by just splitting the funds and wrapping it up yourself, my husband was apparently acted to hastily.
My question is if I return the money can he call the receivers in to put the company into liquidation without my agreement? The business is purely my husbands earnings I''m basically on the paperwork for tax purposes.

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02 Aug 12 #346883 by revenge
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Just to add not filed for divorce yet. My husband has told me I will have to live off my capital, he does not want to pay any sm, he earns £100k+ per year. I don''t work and when I do it will be on minimum wage and probably part time.

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02 Aug 12 #346888 by cookie2
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revenge wrote:

My husband has told me I will have to live off my capital, he does not want to pay any sm, he earns £100k+ per year. I don''t work and when I do it will be on minimum wage and probably part time.

Well, he will get a shock when he re-joins the real world, then. I think he is extremely unlikely to get away without any SM.

How much is this money that he gave you? If you give it back I doubt you''ll see it again. It makes sense to get a Consent Order sorted out first.

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02 Aug 12 #346915 by revenge
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i got £65k but £20k was from the retained profits in his business.He has ceased trading in the business name i am director and sharehlder of.I spoke to the account and he said its best to ptu that money back into the business then we could put into liquidation and pay only 10% tax, the accountant said the receivers would then split the money and send it to the shareholders direct.(Me and him).

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02 Aug 12 #346924 by cookie2
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I think if you give this money back you will never see it again.

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