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Getting a financial agreement. When you divorce or end a civil partnership you and your ex-partner need to agree how to separate your finances. This includes deciding how you’re going to divide ...
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If You Agree - Money and property when you divorce or...
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Get Help Agreeing - Money and property when you divorce or...
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Tax When Transferring Assets - Money and property when you...
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How to work out splitting up money, property and possessions...
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Maintenance Payments - Money and property when you divorce...
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Jun 2, 2024 · A financial divorce settlement is an agreement between you and your ex on how to separate your money and assets once the marriage is over. You can draw one up at any point during divorce proceedings or civil partnership dissolution. Once you have reached an agreement, a solicitor will draft a consent order to make it legal binding.
Oct 12, 2023 · In the UK there is no statutory formula to say that the wife gets the family home or the husband keeps his pension or business. Instead, divorce solicitors have to look at all the circumstances and the section 25 criteria. If a couple has dependent children, then the divorce settlement will be shaped by the children’s needs.
Nov 3, 2023 · An important part of most divorces is reaching a financial settlement alongside the divorce itself. There is usually a family home to be sold or transferred to one of you. There are often second properties or other savings and investments. It is essential not to overlook pensions. 03 Nov 2023.
- Alan and Vicky, London. Alan and Vicky have been married for three years. They do not have any children. When they got married, they both had successful careers as lawyers and earned around £50,000 each.
- Fran & David, Surrey. Fran and David have been married for 20 years. They do not have any children. Fran is an artist but has rarely made any money from selling her artwork.
- Camilla & Hector, Bristol. Camilla and Hector have been married for 16 years. They have two children who are in sixth form and considering universities.
- Charlotte & Rory, Surrey. Rory and Charlotte have been married for 30 years. They have five children who have all grown up and left home. Rory is the CEO of a car manufacturer and earns a basic salary of £1 million per year with regular bonuses of a further £3 million per year.
You need to divide your money and property. If you want this to be legally binding, you must apply to a court before finalising legal paperwork to divorce or end your civil partnership. Dividing ...
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Dec 28, 2023 · In the UK, divorce settlements typically aim to achieve a 50/50 split for both parties. However, this split is often not met due to other circumstances that arise, meaning that one party receives a larger portion of the matrimonial assets than the other. Courts must consider several factors included in the Matrimonial Causes Act 1973 and the ...