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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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asset division

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01 Sep 12 #353248 by miniclub78
Topic started by miniclub78
My husband and I are divorced, we jointly own a house thats were approx £250,000 (£70,000 on mortgage and £30,000 for property in croatia) he owns approx 6 properties (buy to let mortgages), a property in croatia, and a classic car were approx £10,000. He wants to give me £100,000 plus an extra £30,000 after the sale off one of his houses. Is this a good deal. Oh and he has a very good teachers pension. We divorced on grounds of his adultery. Please help as i am on a low paid job and can not afford a solicitor.

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01 Sep 12 #353254 by Action
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There are lots of factors to be taken into account, including your ages, length of time married and co-habiting prior to marriage, respective incomes and future earning potential, savings, whether there are children. There are lots of experts on here who will be able to help if you can give more information.

You really need to know exactly the value of all the properties and income from them. If you have been married for a reasonable length of time then I would certainly think that you need more than he has offered as a settlement.

A good starting point is to work out what your ''needs'' are, i.e. how much to re-house yourself in a suitable property/if you can get a mortgage on your salary, what it would cost you to live on your own etc.

There is a certain amount of financial disclosure that is necessary even if you do agree on the division of assets. To get a Consent Order the judge has to see that the split does not disadvantage one party and that you each understand (by having legal advice) what the division means.

The ''fault'' (adultery) of the marriage breakdown has no bearing on the financial split.

I hope someone will be along soon to advise.

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