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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.

 

Can this be possible.......?

  • Fed up Dad
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21 Nov 14 #449767 by Fed up Dad
Topic started by Fed up Dad
Hi,
My wife is proceeding with court action to file for a divorce and to sort matters out with finance and property.

I have agreed to sell the house in January on the basis that she accepts the £60k settlement that she had previously asked for and I take the rest which will help me clear the marital debts (all in my name)
I have now been advised that she has an arrangement with her solicitor to stop paying him the fees as she will make an application to the court to have this paid from the equity of the property.
What she is aiming to do is to have her £60k from the equity secured and then what is left to cover her legal costs and then if anything is left after that, I have it.

Am I able to put an argument forward to set out the following:-

The house is sold and with the equity I recommend the following action:-

The marital debt is cleared.
The amount owing to my parents (£30k of soft debt) is repaid to them
The amount owing to her mother (£15k of soft debt) to be repaid to her.

Her legal fees and my legal fees on my credit card to be cleared.

Then whatever is left we split 50/50.

Is this like to be accepted by the courts?

  • rubytuesday
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21 Nov 14 #449795 by rubytuesday
Reply from rubytuesday
You can put forward whatever offer/argument you wish, but it is probably best to get some proper advice before assimilating any offer.

You can post here with the relevant information and get some advice form members by answering the following questions:

Your respective ages

Length of marriage

No and ages of children, and how many nights they will spend with each parent

A list of all the marital assets (anything over the value of £500, whether in sole or joint names)

A list of all the marital debts

Your respective incomes and outgoings

any other info that you think is relevant - limited earning capacity, long-term health issues, etc.

  • Fed up Dad
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01 Dec 14 #450598 by Fed up Dad
Reply from Fed up Dad
Hi,
I have now received a response from my wife''s solicitor that is detailing what needs to be agreed.

They have asked for me to get 3 estate agents out to give a valuation of the property and their terms of business. This is with a view to put the house on the open market first week in January. They want visibility of the valuations and have not confirmed that her initial settlement of £60k still stands. I guess they are now considering an increased payment as the house is to be sold.

I am being asked to pay for the remedial work to the property in order for the building certificate to be issued by 31st December at the latest and provide them with a copy of this.

They want me to confirm that I will clear all outstanding marital debt from the sale of the house and also a tax credit overpayment that she is paying - my answer to the tax credit debt will be a no!

They are wanting 50% of my pension pot so we both have equal amounts.
Can I make an argument that the first 5 years of my pension was pre-marriage and ask for consideration of this to be made therefore reducing the sharing to be less than 50%?

I am now agreeing to the divorce on the grounds of unreasonable behaviour on my side although it is not true but it is a means to proceed with a Clean Break order. I have stated that I am only agreeing to this on the basis that I am not responsible for any costs associated to the court proceedings.

Any advice guys?

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