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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.


Mediation Session - Dos And Dont's

  • MajorTom
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04 Feb 18 #499365 by MajorTom
Topic started by MajorTom
We have our first joint financial mediation session next week. I am not too sure what to expect and how to go into this - can anyone share any experiences and what to look out for. Thanks

  • IvorProblem
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27 Feb 18 #499911 by IvorProblem
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I'm in the same boat in a week or so & interested for any pointers. Right now I'm going in with an open mind and a desire for a 50-50 outcome. I'm told by stbx that she is in for the lion's share since she is taking the children for the majority. Firstly that is against my wishes and secondly that's what child maintenance is for n'est pas? I'm still looking for 50-50 and that goes for access to my children and anything else. Reality can hit me later, but I won't go down without a (intellectual) fight.

We both might find something here:
www.wikivorce.com/divorce/Divorce-Advice...-mediation-FAQs.html

  • Visselly
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07 Jun 18 #502076 by Visselly
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Ivorproblem

child maintenance and the splitting of assets are 2 entirely separate things, so your stbx is wrong in assuming that she is 'entitled' to more because she will (hopes) to have majority care of the children.

Equally however, you are wrong if you are assuming that because you will be paying child maintenance - then it should follow that the marital assets should be split 50/50

child maintenance is to support the resident parent with the extra day to day living costs of raising children which the non resident parent no longer has.

The cost of food, clothing, utilities, activities etc.

It is entirely unrelated to the splitting of the assets that you have acquired over the years that you were together.

The starting point to split the assets is 50:50. Then a number of factors need to be taken into consideration to see if there a reason why one half of the couple needs more than the other.


'Need' is a very important word here!

One need that your stbx will (probably?) have is enough money to purchase or rent a property that is suitable both in terms of size and location for her and the children.

Another factor to take into consideration is your respective earning capacities. Is one of you able to earn more than the other?
The earning capacity of the parent who has majority care of the children is usually compromised.

Has either of you ever taken a career break to raise the children and/or to support the career of the other? If so, then their earning capacity is now compromised - but not necessarily for ever. If re-training is an option, then they may make the case that they need more than 50% so that re-training can be paid for.

If re-training isn't appropriate, then they may make the case that in order to maintain a life-style that is not too far removed than that enjoyed during the marriage, they need more than 50% because the earning capacities aren't equal.

Decisions that were made during the course of the marriage that now affect earning capacity are factors which will need to be considered when deciding how to split assets.

Do either of you have health problems which affect your ability to work?

For all of the factors that need to be taken into consideration, see section 25 of the marital clauses act.

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