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Read our latest Financial Settlements guide (2021)

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.

What could I expect reasonably?

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Ringo123
Posted by
New Member

11 Sep 17 #496200 by Ringo123

Topic started by Ringo123

Hi.I have mediation in 2 weeks. We have been married for 10 years. I have 2 step kids aged 17 and almost 15. I have contributed fully to their upbringing for the marriage length plus 2 years before that when living together. My wage was about 6k a year more for most of that time. She didn't receive a penny in maintenance from the kids father.

The house is worth 300k of which 210k is equity.I have a 20k debt from a business venture started up last year. My pension is negligible and she has agreed to write it off. She has a pension worth 120k on surrender value, and a trust fund which she can collect anytime worth 180k. I am 53 and she is 51. Our average earnings are about 17k each. I've no idea what is fair, but it looks like she has the financial backing to buy me out. Any ideas what I should be looking For?

Thank you

Carlsberg71
Premium Member

30 Sep 17 #496580 by Carlsberg71

Reply from Carlsberg71

6k a year??

hadenoughnow
Moderator

30 Sep 17 #496588 by hadenoughnow

Reply from hadenoughnow

What would a 3 bed house cost to buy around where you are? How much mortgage could you each raise?

How big is the former marital home? Are you still living there?

Would you continue to share care of the children?

The key here is going to be housing you both in the first instance.

Hadenoughnow

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Moderators: hadenoughnow

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