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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.


Wife says we dont need financial mediation

  • labcoat
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25 Sep 11 #289327 by labcoat
Topic started by labcoat
Hi,
We are at the stage of trying to decide how to split assets and who should move out of the house. My solicitor has told me that we should go to Financial mediation before anything else can happen but my wife says that we can discuss and sort the finances ourselves. Please could anyone tell me which is correct ?
Thanks,
L

  • dukey
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25 Sep 11 #289338 by dukey
Reply from dukey
The solicitor is advising the best route, that said you don`t need a mediator if you are both honest about finances and reasonable with the division, my wife and i made our own agreement and then had it drafted by the wiki solicitor as a Consent Order, if you do make an agreement it is wise to run it by a solicitor though.

  • soulruler
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25 Sep 11 #289363 by soulruler
Reply from soulruler
Is there anything productive to argue about?

  • NellNoRegrets
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25 Sep 11 #289367 by NellNoRegrets
Reply from NellNoRegrets
If you and your wife can sort this out between you it will be cheaper and less antagonistic. If you can't, mediation is cheaper and less antagonistic than using lawyers and barristers to argue about it.

  • labcoat
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25 Sep 11 #289375 by labcoat
Reply from labcoat
She was surprised when I said that our pensions need to be taken into consideration. She earns 27K more than I do.

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25 Sep 11 #289376 by soulruler
Reply from soulruler
She may earn more than you but whether her pension is worth more only you can know.

It is best to come to an amicable solution; there are no hard and fast rules.

Stick out for a share of the unpredictable and you will both loose out. Far better to come to an amicalbe solution via mediation. Which ever way you look at it going via the courts is litigation - and totally ghastly - speak to and reflect upon the many examples here on wiki if you want evidence of that.

Nothing better than an olive branch. Reflect upon that if you can. Remember - act in haste and repent at leisure.........

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29 Sep 11 #290049 by Imediate
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Labcoat, much will depend on the complexity of your assets and, for example, if you are proposing a Clean Break or if spouse maintenance will be paid.

As a mediator, I have a vested interest in saying this, but I would recommend that you do go and see a mediator. There may be points or options that you haven't considered which the mediator can bring to you attention.

For example:
If spouse maintenance is to be paid, is it for life or when will it stop - after a period, or on re-marriage or on co-habitation? If the last, when is co-habitation deemed to be taking place - when the person moves in or stays 3 nights a week or five nights?
Is the pension to be divided between you? If so, is this going to be by means of pension sharing or a pension splitting order? Do you know the difference?

If the two of you a pretty much in agreement, the mediation should be quick and easy - and cheap. Even if you are not in agreement, I would still seriously recommend it as this route to financial separation has many advantages over the traditional route to divorce.

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