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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.

 

Property

  • janesue
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19 Apr 24 #522911 by janesue
Topic started by janesue
If I was to purchase a property for myself before divorcing, would this have to be sold if we divorced? Husband would be staying in matrimonal home. Would all finances in our accounts be split?

  • WYSPECIAL
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20 Apr 24 #522915 by WYSPECIAL
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How are you funding the house? Presumably if you are buying it from matrimonial assets then it will form part of the pot.

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21 Apr 24 #522925 by janesue
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I had x amount from a previous divorce, (house proceeds) and My husband and I agreed that at some point this would be used for the purchase of a home for me should anything happen to him first. I (so I have been told) stupidly put my assets with my current husbands, jointly. He has syphoned off various amounts into an ISA which is in his own name. This only came to light when I looked at the statements.

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27 Apr 24 #522951 by hadenoughnow
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How long have you been married? We really need a fuller picture to advise effectively but it would seem unlikely that you would be made to sell a property you've bought with a previous divorce settlement.
It could reduce any claim you may have in the FMH if your housing needs are met. Without knowing a bit more about the circumstances though it is impossible to say for sure..

Hadenoughnow

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30 May 24 #523158 by janesue
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I have been married 6 years. We agreed that with the majority of the proceeds from a previous divorce, a property would be bought for myself if anything should happen to my husband first, if I so wished to move out of the matrimonial home which we live in at present. The house is in my husbands name and he has left it to his children, though I will be able to stay in the house for as long as I should need it. But, I am sure his children will want their inheritance asap. The house would be too big for me and expensive to run. The house was his and his late wife's family home. I just want to know where I stand if I purchased a property now, would it effect any divorce settlements should we end up down that route.

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30 May 24 #523159 by janesue
Reply from janesue
I have been married 6 years. We agreed that with the majority of the proceeds from a previous divorce, a property would be bought for myself if anything should happen to my husband first, if I so wished to move out of the matrimonial home which we live in at present. The house is in my husbands name and he has left it to his children, though I will be able to stay in the house for as long as I should need it. But, I am sure his children will want their inheritance asap. The house would be too big for me and expensive to run. The house was his and his late wife's family home. I just want to know where I stand if I purchased a property now, would it affect any divorce settlements should we end up down that route.

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31 May 24 #523160 by WYSPECIAL
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Purchasing a property will be no different to having the cash in a more liquid form.

The fact is that you have something worth £xxx.

The details of his Will have no relevance to a divorce either.

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