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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.

 

Full Disclosure

  • Gingerkitty
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26 Sep 08 #51575 by Gingerkitty
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Yes I did Maggie, wouldnt put it past the X2B to try that one too!!!!
At least that woman did do something with the horses ie eventing. My X2B merely feeds them and shovels what comes out!!!!!!! Come to think of it he talks a lot of what comes out also and smells of it UGH!!
GKx

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26 Sep 08 #51580 by Kevin01
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My ex has even failed to disclose the car that she jointly owns so it appears on mine and not hers.
Where on earth the close on £100,000 of disposable income she has earnt since we married gone is a mystery but I bet she will pull me up on every little thing.
And the biggest joke of all is that she claimed to have contributed to the joint expenses, really, she even spent the child benefit on herself.

  • maggie
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26 Sep 08 #51583 by maggie
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If an Ancillary Relief claim was a "court case" - eg a claim for damages or some sort of dispute between business partners would the court have powers to investigate their finances without the consent of the contestants?

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26 Sep 08 #51584 by Fiona
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Have you seen this GK ?

www.telegraph.co.uk/news/newstopics/howa...0-for-her-horses-in- divorce-settlement.html


We should all go out and buy horses?


Don't believe everything in the newspapers! It makes more sense on reading the judgement here;

www.familylawweek.co.uk/site.aspx?i=ed1261

The joint net assets to be shared were £3m. The wife is to spend £1m on a property leaving £400k to invest and provide an income of £20k per annum. Her future earning capacity is £12k and spouse maintenance of £50k was awarded to meet the wife's budget of just under £80k. This leaves the husband with £900k to buy a flat in London, £500k to invest and provide an income of £25k plus £160k income, giving a total income of £185k. After paying his wife £50k he will be left with an income of £135k.

Mr Justice Potter added "....it is important that the wife should appreciate this, was that, if the husband was made redundant or in fact acted upon his stated desire for an early retirement in two or three years time, it would be reasonable for the wife to continue to maintain her horses at his expense. On the contrary, in those circumstances they would become an unjustifiable extravagance. For my part, I would observe that the wife should realise that it would be both foolish and ill-advised not to start planning for her future now on the basis that.."

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26 Sep 08 #51587 by Gingerkitty
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The newspapers have obviously gone for the "news" element of this case and not factual which makes different reading - cheers Fiona.
GKx

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27 Sep 08 #51806 by birdy
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Full Disclosure and way forward.

I have been trying to reach an agreement with my ex to no avail. So, I have now asked the solicitor to help, but she seems to take it for granted that reaching a financial settlement can only be sorted out in court.

This is scary cost wise, is there no way to avoid this?

When we reach the settlement, can i start the divorce proceedings myself without the aid of the solicitor? or do i need a solicitor to process it because a Consent Order has been drawn up.

I don't have the budget for a solicitor and i can't bear the thought of running of a big legal bill if it can be avoided.

Any tips on DIY divorce would be gratefully accepted.

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27 Sep 08 #51808 by Fiona
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The divorce itself is usually not that complicated and there is no reason most people can't tackle it on their own. However, usually you need the Decree Nisi before the court can make any financial order so you apply for that first. Finances are more complicated and if you can't reach an agreement there is little alternative than apply to court to resolve the matter. Most court cases settle during the process though.

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