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Divorce, help needed, how do we fix our assetts?

Discussion in 'General Board' started by mally, Dec 4, 2009.

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  1. mally United Kingdom

    mally Well-Known Member

    Mar 2006
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    Hello all.

    Any advice (preferably with a solictor) on how you sort out things financially.

    Basically she doesn't want any part of my business but wants the car, which is fair and I do agree to.

    We have agreed some other things also.

    Is there a form we can both write things down on and sign?

    Thanks guys

  2. Domain Forum

    Acorn Domains Elite Member

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  3. scooter United Kingdom

    scooter Well-Known Member

    Apr 2006
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    I think you really do need a solicitor for this.

    The last thing either of you want is for something to come back and bite you on the bum at a later date.

  4. springer United Kingdom

    springer Active Member

    Oct 2008
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    You don't need a solicitor for a divorce. However, if there is property or children involved then it is highly recommended.

    Information here Adviceguide from Citizens Advice
  5. bens United Kingdom

    bens Active Member

    Nov 2008
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    Hi Mally,

    The courts starting point is a 50/50 split of assets and then the court will look at the needs of each party. For example, if children are involved, the needs are likely to be greater of the party to whom the children will reside and the scales may tip in their favour. The court trys to keep the standard of living as close as possible to when the parties were married but unless the assets are very high value then this is often very difficult.

    It is a good idea to attend mediation. A mediator is an independent third party who will take instructions separately from both parties and try to reach an amicable decision for both parties. If an agreement (there is no obligation to agree) is reached they will record the agreement and send this to both parties solicitors. The solicitors will then confirm with each other that it accords with their client's instruction.

    The courts are very unlikely to change a decision reached between the parties. The court would only really intervene if they thought duress was a factor or that one party had not obtained correct advice.

    If a decision cannot be reached then an application to court is the final option but this is expensive and if the assets of the marriage are small you will find that solicitors fees and court fees will very quickly erradicate any assets.

    Hope this helps,

    Good luck.
  6. nnh United Kingdom

    nnh Active Member

    Jun 2006
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    Separation Agreement, search online for one or make your own up that you are both happy with until the divorce...2 years...
  7. jasman United Kingdom

    jasman Active Member

    Jul 2006
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    Call me sceptical, but my impression of solicitors is that they avoid simple solutions and like to overcomplicate things and drag things out to inflate their fee. I find it disgusting that this industry chagres such extortionate fees, preying on people when they are at their most vulnerable.

    Bear in mind that the candle is burning at both ends - you have one pot of money but both parties are spending £100+ per hour at different solicitors. Like the previous poster said, the more a couple argue over who gets what through the solicitors, the less they will both get and the more the solicitors will get, so don't get sucked into all of that, it's a mug's game.

    If you both can agree in principle on how to split your assets and you are both happy with that, then you could come up with a document outlining who gets what. Some people split amicably and don't involve solicitors at all, saving a fortune in costs.

    But if you think it likely one of you will change your mind in the future and you want it to be legally binding then it would be advisable to get some legal assistance but be very well prepared before you go and see them. Have all your questions written down and ready, and a well defined course of action to minimise the risk of them going off on tangents or dragging things out and wasting time. Also be sure to only arrange extra meetings with them if there is a specific purpose to the meeting and if it will move things ahead quantitatively.
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