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Financial Settlement Advice

  • Missy1
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28 Jul 12 #345827 by Missy1
Topic started by Missy1
I have just reached the Decree Nisi stage and my divorce which will be final on 26th August. My husband has never been in full time employment and only gave me money as and when he could. I paid the mortgage, bills etc. and finally paid the mortgage up with money given as a gift to me by my parents a year before we split. The bills and mortgage have always been in my name and the deeds are in my name. My husband has asked for quite a large amount of money which I feel is not justified. I want to know where I stand if I do not reach a financial settlement before the Absolute is final on 26th. Will he still be entitled to half of the property? I have two children aged 13 and 9 years so we are in the house and have no intention of moving on and I believe that this then becomes a 70% / 30% split. Should I make sure a Consent Order is in place before the absolute or will this not make any difference?

  • Action
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29 Jul 12 #345903 by Action
Reply from Action
I was advised to definitely not apply for the Decree Absolute until all finances were properly sorted and a consent order approved by the court.

  • happyagain
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29 Jul 12 #345911 by happyagain
Reply from happyagain
Tbh missy, it makes little difference if you get the Absolute before finances are settled. Both myself and my husband received our absolutes from our first marriages before finances were sorted.
However I would be wary of such a general assumption as you will get 70% of assets. This can happen in cases where the PWC isn''t working or is on a low income compared to the nrp. This isn the case with you and your ex will be viewed as the financially weaker party. I would also suggest you come to terms with the fact that you cannot ring fence money given to you during the marriage. All assets or debts are assumed to be joint if accrued during a marriage.

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