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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.


How much?

  • P0rkypig
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03 Sep 12 #353575 by P0rkypig
Topic started by P0rkypig
Hello,
We are both 42 with a 14 yrs and 10yrs children, both living at the marital home if this goes to court, what could I expect the split to be? I currently am paying all household bills except food, no CSA yet as not settled.

House 165,000
ISA/Endowment 49,000
Outstanding mortgage 89,000
Loan 6,400

Both children will stay with me every Thursday night plus every other Fri Sat night

I earn 41,000 fulltime
wife earns 8,000 part time but could double her hrs(would this be taken into account her earning potential)

Pension are the same cvt

  • LittleMrMike
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03 Sep 12 #353603 by LittleMrMike
Reply from LittleMrMike
Oh dear, wouldn''t it be nice to have a crystal ball !

You asked about your wife''s income, and whether she would be expected to work. You don''t say how many hours she does now. It is a controversial subject and we would much welcome some general guidance from the judiciary on the subject. There is evidence that practice varies in different parts of the country.

My own view - and you can take it or leave it, as you please - but I think it is reasonable for a wife to work at least 16 hours a week when the youngest begins secondary education. But I''ve known women who went back to work as soon as it was legally permissible for them to do so. No two cases are ever alike.

But there is quote a disparity in incomes here and this implies you could afford a larger mortgage than she could.

You might, perhaps, be interested to read a paper I prepared which I fondly hoped would give useful general guidance to folks in your position.

If you have any questions, please ask or send a PM.

LLM

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