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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 Agreement - Is it fair?

  • Itgetsbetter
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05 Mar 09 #95689 by Itgetsbetter
Topic started by Itgetsbetter
Just had the final mediation session and it looks like we have an agreement.

It sounds fair to me, but my recent redundancy has made things harder to judge, so I wondered if anyone had any opinions.

Split of house (roughly £150k equity) is 60/40 to her

Costs of house sale to be split 50/50

She doesn't want pension split (My CETV £114K, hers £15K)

We will surrender a joint endowment (£5.5K) and she will get all this.

She will not have any of my bonus paid in December 2008 and currently in my savings (£5K) nor any of my redundancy pay that I will get this month.

Before my redundancy I worked full time, had the children half time and paid £450 per month CM. She works part time (about 20 hours a week), she could work more hours but claims she can't. She will receive CB and CTC.

Now I have no job I will not pay child maintenance, but we will review when I get a full time job and if appropriate the higher earner will pay the lower child maintenance in accordance with CSA. Childrens ages are 15 and 12 (nearly 13)

Thanks

S

  • hawaythelads
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05 Mar 09 #95691 by hawaythelads
Reply from hawaythelads
Fair!
I'd bite her hand off for that deal!!!
all the best
Pete

  • Lady in Blue
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05 Mar 09 #95710 by Lady in Blue
Reply from Lady in Blue
Where is she going to live?

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05 Mar 09 #95717 by fluffy76
Reply from fluffy76
Sounds like a great deal - for you. I'd get it signed asap. Are they going into rented accomodation?

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05 Mar 09 #95732 by Itgetsbetter
Reply from Itgetsbetter
When we discussed it she seemed convinced she would be able to get a mortgage and buy a place. I don't think the numbers stack up for her to buy.

I know I won't be able to afford to buy until I get a job so I will have to rent when the house is sold.

  • Zara2009
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05 Mar 09 #95733 by Zara2009
Reply from Zara2009
Fair outcome for a fair man I would say.

going to pm you with my thoughts.

zara

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05 Mar 09 #95809 by Lady in Blue
Reply from Lady in Blue
I thought Pete said he would bite her hand off for that deal?

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