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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.

 

Might of finally cracked it, how does this settlement agreement look please ?

  • Ceejayjay1
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31 Jan 22 #518750 by Ceejayjay1
Topic started by Ceejayjay1
Your respective ages;
Him 57, Me 50

The number of children you have and their ages; None under 18

The length of your marriage and any period of pre marriage cohabitation;
23 years

Your respective incomes;
Him £1521 net per month, self employed, Me £1367 net per month, employed

Your respective outgoings;
Household bills of around £800 per month

Your assets - both soley held and joint;
Family Home £250K with £40K mortgage
Rental 1 bed property £115K
Classic motorbike £12k
Classic car in pieces ? not sure on value
Vauxhall van which he is currently converting to camper £1,300, but I would argue more as he has invested so much time into this but thats another story. Im happy to leave this out of things as he purchased after our split.
Van £2k
Car £1K

Savings in my name £4000 pre split

Your liabilities.
No debts other than mortgage

He has pension CETV £106k
My pension CETV £10.5K

I would welcome a 50/50 split.

Would it be fair to say any savings he or I have made after our split in 2019 are not part of the pot ? Im also willing to leave his camper project out as it was purchased after our split. We are still in the same house but only the kitchen is communal and we have lived seperate lives from well before our official split.

So how would this agreement seem

Sell FH and split the money once mortgage is paid off. Ive agreed to let him have first refusal to buy at full market value although the price rise has priced him out of that now I think

Keep the rental property and split the £515 rent each month as extra income to both of us. Our tenants are good and we see no benefit in selling this house as it was always our long term investment.

He wishes to keep his motorbike and 2 vans.

We want the pensions splitting 50/50.

I would like the keep the 4K savings plus savings I have made after the split.

I would like to keep my car.

At this moment in time he says he has no savings whatsoever for our pot.

Ive had a MH condition from childhood which massively restricts my day to day life. Once working from home stops (covid related) and I am called back into the office I will need to reduce my hours as I struggle with getting out of the house quite alot.

Does this look fair please ?

Thanks in advance

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