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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.

 

Short marriage, no children.. Need Help

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14 Sep 23 - 14 Sep 23 #521755 by Timg258
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Hey all, I’ll let you know the situation briefly: Marriage ended after 19 months - started the divorce application. Cohabitated around 17 months. No children She lives in the family house and i am still paying the full mortgage and bills for the property. I have moved out and currently staying with family. I bought the house with a large deposit. She’s on low income and not much savings as far as im aware. I earn more and have some assets and businesses and also bought the family home. I want to settle this peacefully but she wants to go down the solicitor route or else not willing to discuss any financials with me. What to do? Thanks,Mr T
Last edit: 14 Sep 23 by Timg258. Reason: Shortening.

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15 Sep 23 #521756 by WYSPECIAL
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You’ll need to get a court order at some stage to separate your finances. It is possible to take legal advice and still be amicable.

Where will she live post divorce ?

Post details of ages, incomes and assets and people will be able to make suggestions.

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15 Sep 23 - 15 Sep 23 #521761 by Timg258
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Thank You. She is 32 and I am 35. She is on low income (16k) and not much savings. I have some savings. A couple of investment property’s bought a long time before marriage. I have a business for which I work for and salary of circa 40-50k. Post divorce, I’m guessing we will both need to find smaller accommodation like a 1 bed flat to rent?

the family home has a large amount of equity in there. I was the only person to put the deposit and pay for the house. I would like my deposit back, but don’t mind sharing the gains of the property.
Last edit: 15 Sep 23 by Timg258.

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16 Sep 23 #521767 by WYSPECIAL
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£16k suggest part time work. Is there a reason for this and what are the plans to change it?

Is the house in your sole name?

Will your ex realistically be able to rent somewhere on their income. You’ve already acknowledged that they need support and you can afford it as you are currently paying all the bills for a house they are living in.

You mention a couple of investment properties. Are these rented out? How much equity is in them?

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16 Sep 23 #521768 by Timg258
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Why does that matter? The marriage was only 16 months long!

no I bought the house joint. Has around 200k equity.

Why do my other property’s matter? why would I give up property’s I bought years before the marriage.

I don’t know what her plans are to earn more.

as far as I can see, I can help cover her rent for a year or two to give her enough time to get back on her feet. I have no duty to make sure she is set for life after 16 months of marriage.

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