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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.

 

FDR hearing

  • hurting2000
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26 Dec 21 #518453 by hurting2000
Topic started by hurting2000
I have FDR hearing n 14/01, face to face. I am the Applicant.

We had 2-3 previous hearings, but ex was not prepared for them, also rejected my offer of buying him out etc.

I am now prepared to give in and simply offer 50/50 split of the FMH and putting it out for sale. Ideally, I would like to get 50/50 plus additional £20k- 30k as this way I will be able to get a morgage and get 3 bed for me and 2 young kids (boy and girl). We can potentially end up with £720 equity after the sale, that's, to be split between us. We are in london. We have child arrang hearing in March, but the judge at the prev hearing ordered for the financial hearing to take place before child arrangent hearing. Ex also wants 50/50 custody however he only works nightshift so I am not so keen on that. I also believe that he will move at least 100 miles away once he gets the money so he can buy a property for cash.
My question is: can the order be made during the FDR hearing? , can I propose 50% plus extra £20k and if it is rejected what am I risking?
Can I suggest that I will make no claim to his pension in exchange for extra £20k
How do I prep[ere the formal proposal?

  • hadenoughnow
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28 Dec 21 #518454 by hadenoughnow
Reply from hadenoughnow
The financial order can be made at FDR but only if you and your ex can agree a settlement that the judge thinks is fair. If you cannot, the matter will be listed for Final Hearing.

FDR is an opportunity to hear what the judge thinks of your respective positions and to negotiate with the judge's input.

Without seeing details of the financials it is hard to comment on a fair outcome. It is perfectly possible to have an unequal split of equity and an even split of pensions if needs demand.

I would be inclined to stick with your buyout proposal, providing of course that the FMH is not too big and costly to run. Ask for an equal share if the pension pot, you can always forego some of it if the judge suggests you should. It's a good idea to have some things you can 'give up' to get the outcome you want.

Set out your formal without prejudice proposal with the same header as the other court documents.

Give a brief summary of your respective needs and what is needed to meet them. Set that in the context of the matrimonial assets including things like mortgage capacity. Mention important stuff like proximity to schools, any big mortgage redemption penalties etc to strengthen your case for staying in the FMH.

This will explain the without prejudice offer you will make.

Set the actual offer out in bullet points and clearly identify the assets that are to be divided.

If you need help with this, our fixed price divorce consultant service may be able to assist next week.

Hadenoughnow

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