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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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dividing assets and also i have a mental illness

  • kool59
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01 Sep 12 #353267 by kool59
Topic started by kool59
i am the respondent,we have a FMH worth £342,000,mortgage and credit card £152,000,we have two children.under care of mother.divorce based on separation,caused by my mental illness, have been diognosed with paranoia scizzophrenia.was the bread winner when we lived together but now we both are on benefits.i get dissibility living allowance.my wife advised me to have £40.000 thousand and she will keep the rest, is this a good deal? or shall i let the judge deal with this,pls help....:dry:

  • LittleMrMike
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02 Sep 12 #353449 by LittleMrMike
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Hmm, this one is a bit close to home.

My former wife was schizophrenic and I paid spousal maintenance for 28 years. That ended this year on her death.

But in my case there were no children. If there had been it is almost inevitable that I would have been the parent with care. That would certainly made made a difference if we had children.

In your case there are children. The Court''s main priority would be a home for the children. I think the likelihood is that the Court would prioritise their housing needs.

So where do you live at the moment ? Do you rent, with housing benefit to finance it ?

Unlike my case there is no possibility of spousal maintenance because you are both on benefits. Be aware also that a capital sum in excess of £50,000 would disqualify you from housing benefit and income support/JSA.

It''s hard to judge because I don''t know your wife''s situation. Do you know how she will raise the £50 K if she is on benefits ?

LMM

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02 Sep 12 #353464 by kool59
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i currently live in a care home only,i have one more year left then i need to find alternative housing.i have another thread please if you can read that there are many comments,it will give you a good insight on my situation from what i have read your the best person to give me advise,and by the way the equity is £190,000 of that my wife will let me have 40 thousand pounds and she will keep the rest i am told this is a low figure that i should get more,please advise thank you

  • soulruler
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02 Sep 12 #353471 by soulruler
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Hi

Just found this thread and think that maybe between them all, LittleMrMikes and other experienced posters a bit of a better view can be made.

I suggest copying and posting all the posts and replies onto one of the posts so that you and everyone else can get a better picture of what is going on.

Sometimes, actually often, I have felt like a split personality during my divorce = that is pressure for you without any official diagnosis and I am pleased to say that I have never heard voices - don ''t know just how distressing that must be for a person anywhere.

  • Elphie
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02 Sep 12 #353501 by Elphie
Reply from Elphie
If you''re still watching this thread, lmm, the main thread is here www.wikivorce.com/divorce/Divorce-Advice...-illness/Page-5.html

  • LittleMrMike
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03 Sep 12 #353531 by LittleMrMike
Reply from LittleMrMike
You may note that I have sent a detailed reply, but multiple threads on the same subject are, I fear, very confusing and best avoided.

LMM

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