A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info

Do you need legal advice on a fair financial settlement?

We offer a consultation with experienced family solicitor for a low fixed fee. You will receive legal advice and a written report outlining your legal position and setting out what a fair settlement would look like based on your individual circumstances.


Financial Settlement - Confused beyond belief!

  • sajrahman
  • sajrahman's Avatar
  • Junior Member
  • Junior Member
More
22 Jul 12 #344595 by sajrahman
Reply from sajrahman
Financial settlement is the worst in the whole divorse process. It costs so much that with 50/50 sharing and pensions sharing it all endsup as a waste of time as you pay more to solicitor for this unless you''re on legal aid. I dont think that she would be able to get the initial money out unless her father shows that the money is some type of a loan and he wants it repaid. But then if that money isn''t protected then it still could ( not necesserily) go out of the window. The best option is negotiating one was or the other. Its less stress, quicker and financially worth while. I got very little out of my house but whrn I sat and did my calculations, I realised that by going to court , I could get a good deal but I would be paying out most of that to solicitors. So just see if you could come to some sort of realistic negotiation.

  • MarriottR
  • MarriottR's Avatar
  • Premium Member
  • Premium Member
More
22 Jul 12 #344596 by MarriottR
Reply from MarriottR
She can''t do that. If It went to court which its best for both of if it doesnt there''s no way that''s how it would end up.
My suggestion is that you both get an hour with a solicitor( separate ones) and they''ll give you a heads up. If she hears from a solicitor that won''t happen hopefully she''ll spare you the huge legal bills to have a judge tell her the same.

  • marineville
  • marineville's Avatar
  • New Member
  • New Member
More
23 Jul 12 #344810 by marineville
Reply from marineville
hi. hate to say this but i think your calculations are a little awry. first, her gift or inheritance dodge paid for half of the house but your half of the money has, for the most part, paid the bank for lending you money. there is no way that you own 50% of the house just because you''ve stumped up the same amount of cash as she did. you''ve been paying off only a small part of the house itslef, with most of the payments eaten up by insurance, interest, taxes. you''ll need to check your mortgage records to see how much of the original loan you actually paid off and judge that as a percentage of 50% you actually purchased. you can do that again with the appropriate figures for the second home. you could even add an appoximate but fair estimate of the bills too, as they would have been paid monthly, quarterly or annually. 50% of that sum will be owed you by your expartner. tiresome but unless someone''s going to just throw in the towel from the calculations i don''t see how you can get away from this. sorry...

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
23 Jul 12 #344815 by maisymoos
Reply from maisymoos
I am not sure really what Marineville is saying. The house is matrimonial property and the starting point would be 50/50, if her fathers money was a gift it is counted as part of the matrimonial pot. A formulised loan may be considered differently though.

  • MarriottR
  • MarriottR's Avatar
  • Premium Member
  • Premium Member
More
23 Jul 12 #344818 by MarriottR
Reply from MarriottR
Exactly.... Had she paid 100% of it it''s still joint property and he''s still entitled to 50%. it''s not a business deal, it''s a marriage and in a sense when you marry you become a single entity. So without a prenuptial agreement he fine.

  • Help Please!
  • Help Please!'s Avatar
  • Premium Member
  • Premium Member
More
23 Jul 12 #344829 by Help Please!
Reply from Help Please!
Hi all,
I am just as confused.

We have just Divorced and now have to settle the financial side.

Yes the huse is joint owned i have paid the mortgage for the past year, all the bills for the past 3 years and the x has not offered a penny.

He wants a fifty, fifty split, wants to keep his pension and agrees i can keep mine. Wants me to pay his costs and says his partners money does not come into it! We have had a son with Learning Difficulties all his life which my x is now disputing!!
Please reply by private message.
Thank you for reading this.
Confused!!:unsure:

  • sajrahman
  • sajrahman's Avatar
  • Junior Member
  • Junior Member
More
23 Jul 12 #344947 by sajrahman
Reply from sajrahman
The problem is that in many cases, the parents turn around and say it was a loan and it may not be documented any where, but as far as I know, the courts consider this and that is what happened in my case. When I realised this, I settled with my ex''s offer as I knew that I would end up getting close to nothing. Its very tricky and thats why its best to come to some sort of decent agreement and also to remember that the same thing is probably going through the ex partners head. Both side would know the score and hence might undestand about the importance of keeping it simple- Thats my feel.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11

The modern, convenient and affordable way to divorce.

No-Fault Divorce £179

We provide the UK's lowest cost no-fault divorce service, managed by a well respected firm of solicitors. 


Online Mediation £250

Online mediation is a convenient and inexpensive way to agree on a fair financial settlement.


Consent Order £259

This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.


Court Support £250

Support for people who have to go to court to get a fair divorce financial settlement without a solicitor.