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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.

 

Global Maintenance - help me!

  • Captain Jack
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18 Jul 23 #521455 by Captain Jack
Topic started by Captain Jack
Hello all

So i'm new on here but still suffering the blow of a GMO, divorced over 7 years now, in short there was only about £1.2m in the pot of which she gained 70%, which I don't have a problem with as it means my kids at least have a decent roof over their heads bought and paid for.
GMO payments are manageable, but... I wasn't able to hang on to my share very well due to renting for a while in order to have somewhere large enough for the Kids to visit and I made some bad choices regarding keep my vintage car projects, but not taking into consideration I would need storage etc. In hindsight I should have let go of everything! I am self employed and during C19 didn't work for nearly 1.5yrs. Despite writing to ex got taken to court and ordered to pay there and then nearly £20k ( a bit of a shocker and had to borrow from banks) The Judge basically would have made me bankrupt as well as sell my road car in order to cover this, luckily after much proverbial kissing of the J's rear, they said I had a week to pay, which I did.
It appears to me despite legal advice otherwise, any award of capital in the form of money and old cars etc are not mine, but fair game at any point in the future.
Here's the question:
If I marry my girlfriend, how do I legally keep us financially separate in relation to the GMO and if I inherit is there anyway to safeguard that money as my GMO will run for about another 7 years (as long as they can't extend it, kids will be 18) but I will be 67 then and have no pension and still firefighting about £70k of debt, I don't earn enough other than to tread water as it were.

If I were younger I wouldn't be too concerned, but time is running out...

Thank you

  • WYSPECIAL
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20 Jul 23 #521464 by WYSPECIAL
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If your circumstances have changed massively it may be possible to get the order reviewed.

What are the terms of the order?

  • Captain Jack
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20 Jul 23 #521465 by Captain Jack
Reply from Captain Jack
Hello

thank you for getting back to me, I'm not looking to vary as that won't change, what I'm looking for is to safeguard my partners money be legally keeping it separate if we marry and keeping ex away from any claim of any inheritance I might get.
After the last trip to court where I had to pay (no matter what, thats how powerful a GMO is) I'm concerned that if my circumstances change work-wise the courts can still draw on my assets to pay the GMO, thus nailing me to the proverbial cross!
It is extremely hard to find a legal expert on GMO...

  • hadenoughnow
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24 Jul 23 #521478 by hadenoughnow
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It sounds like you had built up arrears which then had to be paid from your capital. You cannot just stop paying court ordered maintenance; you need a court order to end or vary it.
I think the simple answer to your question about marriage is simply don't!! If you must then you need to keep finances as separate as possible, own property as tenants in common etc until the maintenance order is ended. Of course if you maintain payments this won't be an issue.
Afaik Your ex has no claim on inheritance as such but it can be seen as a capital asset that may be used to pay arrears if they build up again.

Hadenoughnow

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