How is a financial asset split defined and when?

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Financial asset split how is this defined and when

Trying to understand how finances are split and when

Looking to sell house in next 6 months, split house proceeds 50% and move into our own either owned or rented accommodation

At this point we agree that pension statements will be taken and probably no change to either of us from an asset provision perspective

Looking for a 2 year separation prior to applying for divorce I earn double that of my wife Will she be entitled to a proportion of my additional earnings during this 2 year period?

Dave richardson at 06.04.2021 16:59:30

Views: 1004

Replies

Hi Dave,

Thank you for your question.

A consent order will sort out how you split your finances with your ex once divorce proceedings have started. You can only submit a consent order once you have your Decree Nisi certificate.

If you are planning on waiting two years to use two years separation as your grounds for divorce, then all assets including earnings will need to be disclosed prior to drafting and submitting your consent order.

However, if you choose to use a different grounds for divorce, such as unreasonable behaviour, to start proceedings sooner, you can then sort out your finances through a consent order once you reach the Decree Nisi stage of the divorce (approx. 12 weeks from filing). amicable specialise in writing 'tame' behaviour statements and work with couples to try and avoid the acrimony associated with using unreasonable behaviour as the grounds for divorce, until no-fault divorce is introduced in April 2022.

Bear in mind a consent order requires agreement and signatures of both parties and a 50/50 split is generally the starting point.

I hope that makes sense, and please book in a call if you would like to discuss your personal situation further.

We wish you all the best.

Holly at 11.06.2021 11:01:31

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