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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.

 

How to agree an amicable Consent Order

  • DivorceFAQs
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20 Nov 22 - 20 Nov 22 #520230 by DivorceFAQs
Topic started by DivorceFAQs
My STBX and I are going through an amicable divorce and have some questions about how to agree on a Consent Order.

We are both in our late thirties, no children and have been married almost 3yrs (10 yrs cohabiting). Living in England. We both earn similar wages and used to live in a rented flat splitting rent, bills and expenses. We don't have houses or mortgages/joint debts. My STBX has debts on her name though, credit cards and a personal loan.

We have already submitted the D8 form jointly. We would like to sort this out amicably between ourselves with a Clean Break. We wonder if it would be possible to agree not to claim anything from each other or this is technically impossible.

1. Would we have to list all of our savings, debts, investments and pensions regardless if we would like to agree amicably?
2. In case we have to do 1., Do sole debts count towards the pot?
3. Does cohabitation count towards marriage assets?
4. Would we have to look back into all of our history of pensions in our case? We do not have an accurate record yet.

Many thanks.
Last edit: 20 Nov 22 by DivorceFAQs.

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24 Nov 22 - 24 Nov 22 #520245 by hadenoughnow
Reply from hadenoughnow
If your ex agrees the debts are their personal liability and there are no pensions to consider, you can get a standard consent order drawn up and submitted for approval.

The order needs to be accompanied by a D81 Statement of Financial Information. This sets out the figures and gives scope to explain the rationale. It allows the judge who is asked to approve the order to be sure it is fair.

The whole cohabiting relationship counts, not just the actual marriage. You do need full financial disclosure.

You may want to look at the consent order service provided by this site.

Hadenoughnow
Last edit: 24 Nov 22 by hadenoughnow.

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