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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.


children and family home

  • somuch2know2
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01 Oct 12 #358768 by somuch2know2
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Im not sure where you live (rural vs urban) but there are many companies that offer flexi work.

Waitrose is a fantastic place to work with good benefits and flexible hours.

Your husband doesnt earn a lot but I cant see the sale of the house leading to a cheaper option. It would probably be better for you to stay put as the mortgage is only 50K and him have a mesher order which is usually a 60/40 split to be realised on the youngest turning 18.

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01 Oct 12 #358770 by WhiteRose
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Mmmmmm Its not likely that it''ll be 50/50

I said before that its ''needs'' based and priority goes to dependent children the % tends to lean towards the PWC (parent with care) - receiving a higher %.

The bug bear would be that the person who stays in the marital home pays for bills/utilities/mortgage and this can be from benefits, CM, SM and salary. If you are not able to do this, its more likely the house would need to be sold.

On your possible income there is no way you''ll be able to get a mortgage or buy him out, so the options would be to sell and divide the equity or another option is a Mesher Order - where you can stay in the house until certain triggers are met (re-marriage, youngest child 18 etc) However to stay in the house you''ll need to pay the bills etc.

He will have to pay CM (CSA calc shows 20% for two children with no discounts) and you may have a case for SM (Spousal Maintenance) but I don''t really know too much about this.

WR

  • Elphie
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01 Oct 12 #358772 by Elphie
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He wouldn''t necessarily get 50%, in fact I think that''s highly unlikely given the differences in your income. However, to stay in the house and refuse to rent, you need to be able to prove you can afford the mortgage, especially as he isn''t a high earner, and particularly if renting a similar sized property. Is the property suitable for your needs? (ie no spare bedrooms)

Use the website entitledto.org to find out about your benefit entitlement, and apply now. Also, play around with the site as if your working hours are enough, then that job in the school might be worth more than £50 a week if it also gets your tax credits. So your income isnt "nothing" it is child benefit, child tax credits, child maintentence, then plus your earnings and working tax credits if you can get them.

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01 Oct 12 #358773 by Elphie
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Oops, didn''t realise there was a second page and white rose already said most of that!

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