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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.

 

post separation valuations

  • sensationoffumbling
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25 Aug 23 #521630 by sensationoffumbling
Topic started by sensationoffumbling
Hi
I'm a LIP trying to get through settling finances with an ex who's non responsive. Ex's solicitor advises they have no instruction to respond to me. I suspect they will be proceeding with the final order application asap despite my requesting they hold off. I've invited engagement in mediation as a starting point so next is to apply to court.. I'm trying to size up the challenge and potential costs ahead to determine the best wa forward.
We've been separated 5y following 8y childless marriage. We have the FMH and a property abroad which we had intended as a future MH. I'd given up my career in prep for starting a family and part time self employment working from home. At this time my ex had just attained a masters degree, the plan was for this to boost their earning capability while I focus on domestic demands. Approx 3 months before the move abroad it was announced they'd met someone and it was over - devastated and depressed is an understatement, I finally and reluctantly applied for UC and disability (neurodiversity and MH) assistance after a conditional reposession order was granted on the FMH which I occupy. My ex has refused three proposals to fix the interest rate and knows the repayments are now literally double what they could have been. It seems you dont really know someone until you divorce them! Attempted discussions in the past have failed with every round seeing a new debt or greater demand added to their offer.
To point, whats the approach to valuing property, pensions and of course debts in terms of timing? Are these valued at date of separation or date of the final order? Any paid council on my part means risking eviction so any help will be appreciated.With thanks

  • WYSPECIAL
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26 Aug 23 #521635 by WYSPECIAL
Reply from WYSPECIAL
Joint properties will be valued at today’s prices but if one of you has paid substantial amounts of capital off the mortgage then it could be argued you get a greater share.

Usually the concept of sharing things like savings and pensions ends on separation so anything accrued since then is ring fenced.

As for debts whose name are they in and why were they accrued? If it’s joint things like a mortgage then you're both, jointly and severely, responsible for paying the full amount so the lender can chase either, or both, of you. They will tend to chase the person most likely to have the means to pay.

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