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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.

 

Inheritance

  • Jacobben
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24 Feb 24 - 24 Feb 24 #522632 by Jacobben
Topic started by Jacobben
Hi everyone

Can anybody tell me exactly how inheritance is treated in a divorce settlement. Been married 18 years total but separated the last 6 of them and have just received an inheritance from my dad's estate of £95000.
We are discussing divorce but there are absolutely no assets. No savings, no house to sell, we've always lived in rented accommodation. We have 6 children 3 of which are hers from previous relationships and are all now in their 20s. We still have 2 dependent children one 17 who lives with me permanently and one 12 who we have 50/50 shared residence. She is on benefits, never worked before or during relationship, and I work full time as I've always done. Currently her monthly income is around £1600 and mine is £2000.
The question I suppose is needs. As there are no assets will the inheritance be classed as a marital asset 50/50 or will it be dipped into to meet any needs. She has said she doesn't want to have to take any of it and likewise I have no problem in offering her a share of it, or is that out of our hands?
Just for context I'm 54 she's 43, no pensions. She will have to downsize as she's in too large property and I need a larger property.

Thank you in advance for any answers

kind regards
Last edit: 24 Feb 24 by Jacobben. Reason: Missed something out

  • hadenoughnow
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25 Feb 24 #522635 by hadenoughnow
Reply from hadenoughnow
As with most things in family law the answer is 'it depends'.
Inheritance that has been kept separate from family funds is not part of the matrimonial pot so not available for division. It is though seen as a resource that may be used to meet needs and could therefore mean capital is divided unequally.
In your case it would appear housing needs may be met from existing resources. If that is the case I think you can assume the inheritance can remain untouched.

Hadenoughnow

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