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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.

 

Divorce settlement

  • sortingthingsout
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27 Nov 23 #522095 by sortingthingsout
Topic started by sortingthingsout
I am looking for a ballpark figure of what is reasonable to expect in divorce settlement, child maintenance payments, house division. Summary: I work part time and earn £35000, I have 2 children ages 9 and 11. I am main care giver with day to day responsibility for them. My husband and I are recently separated without any agreement in place. He has threatened to withdraw financial support on a number of occasions or reduce monthly payments. e.g. "I can't keep sending you all this money" My husband earns £120,000 and lives/works in Europe. At the moment he contributes £2000 monthly to household finances. He visits 1 weekend per month and says he will have the children for half the school holidays (6 weeks) in the future. I worked and was the main breadwinner supporting him through his Masters, PhD which enabled him to get this high paying job. One of my children is autistic and as such requires alot of support from me so the potential for me to work more hours is quite limited without having a big impact on her. Monthly expenses for house, car, food and childcare etc. are £4000. His monthly expenses in Europe are £2000. This leaves him with £3500 spare.

We have £210000 left to pay on mortgage for house which is valued at 480000. He doesn't seem to get a pension with his job but has told me they will pay him £1,000,000 in 3 years time as a bonus. I don't think I would have a claim on this (if it even happens). but the upshot is that he won't be struggling financially any time soon. Also his parents have given him $1,500,000 which I don't think I have any claim to as that is inheritance.

I feel he will not be suffering financial hardship any time soon, has a well paid job and almost zero childcare responsibility. He basically turns up when it suits him and will often be working when he is here anyway.

Would it be reasonable for me to seek £2000 per month + the house in my name. Child maintenance calculator says about £1400 only. Is it normal / possible to get more than this?

Thanks in advance for any advice

  • Rickoshea
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28 Nov 23 #522097 by Rickoshea
Reply from Rickoshea
With the assets in play you need to speak to a Solicitor and probably one with some experience of cross border rules depending on where in Europe they are located it could be more complicated anyway. Things like the inheritance could be included if the need arises if it's already been given to your Husband. It all seems complex hence why advice is critical and the sooner the better

  • hadenoughnow
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02 Dec 23 #522116 by hadenoughnow
Reply from hadenoughnow
Any settlement will be based first on needs and the means you have between you to meet them. The needs of minor children are a priority. If he is in a country with a reciprocal agreement he will need to pay UK CMS rates. Is his employer a UK company?

You need full financial disclosure and some sound legal advice on financial settlement. As above the first consideration is needs and the means you have between you to meet them. You may want to consider the fixed price legal financial consultation offered by this site or chat to one of our consultants via the green button.

Without knowing more about the financial circumstances including when the gift from his parents was received, it is hard to advise. Even if it is deemed non matrimonial, it is seen as a resource to which he has recourse to meet his needs. As yours are clearly greater this could mean you have a greater share of matrimonial assets. Depending on circumstances the money he has available could be used to capitalise spousal maintenance so you get a lump sum instead of monthly payments. It's worth asking about this.

Hadenoughnow

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