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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.

 

Savings

  • Styles45678
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19 Nov 24 #524601 by Styles45678
Topic started by Styles45678
Hi there, I'm hoping for someone to spread some light on my current situation. My wife has had an affair and we decided to seperate ending all joint accounts and halved all saving. She has moved in with her new partner and we live completely seperate.
I have been saving realy hard trying to gather asmuch money as possible to help contribute to here half of the property I live in.
I'm wondering if she is entitled to half my saving f we go for devorce.
I've saved this on
my own in my own back account.

any help with be great.
thanks

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19 Nov 24 #524602 by WYSPECIAL
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It depends.
You need to consider the whole picture. Ages, incomes, length of marriage, ages of children, how assets including pensions were split at the time.

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20 Nov 24 - 20 Nov 24 #524607 by Styles45678
Reply from Styles45678
Thansk for the reply.
no children
I didn't think it was that complicated as I asume what I save after the split is mine.
As we are independent with no financial conection and she is renting and paying half with her new partner, Other wise what is the point in saving or working when she isn't saving her money.
I'm 39 she is 36,
I'm self employed and she is a bigger earner with being employed full time.
We have lived together for 15 years at various places but but married for just over 5 years. In this house we jointly own for 10 years.
I have no pension and she has a small work based pension.

If this is the case can I just spend my small saving on a new van then start enjoying My money like she does instead of saving it just to give her half. It seams unfair.
I'm only a one man band sole trader
Last edit: 20 Nov 24 by Styles45678.

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20 Nov 24 - 20 Nov 24 #524608 by Styles45678
Reply from Styles45678
Thansk for the reply.
I didn't think it was that complicated as I asume what I save after the split is mine.
As we are independent with no financial conection and she is remting amd paying half woth her new partner, Other wise whatvisvthe point in saving or working when she isn't.
I'm 39 she is 36,
I'm self employed amd she is a bigger earner with being employed full time.
We have lived together for 15 years at various places but but married for just over 5 years.
I have no pension and she has a small work based pension.

If this is the case can I just spend my small saving on a new van then start enjoying My money like she does instead of saving it just to give her half. Also would my new van be classed as joint assete even tho its solely for me to run my business.
It seams unfair.
I'm only a one man band sole trader
Last edit: 20 Nov 24 by Styles45678.

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20 Nov 24 #524611 by WYSPECIAL
Reply from WYSPECIAL
If you’ve saved it after you’ve split up and there are no kids involved then you shouldn’t have an issue.

Get it all sorted with a Clean Break order to finalise everything and you’ll never have to worry about it again.

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24 Nov 24 #524624 by Styles45678
Reply from Styles45678
Honestly, Thank you for your time I really appreciate your reply.

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24 Nov 24 #524625 by Styles45678
Reply from Styles45678
Honestly, Thank you for your time I really appreciate your reply.

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