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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33311
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Good afternoon, Me and my husband are currently separated.He

Customer Question

Good afternoon,
Me and my husband are currently separated.He has recently given me a letter which includes a financial settlement and he wants me to sign.However,the way its written its very complicated,and i do not want to sign it when i do not fully understand it.As i know i am entitled to some money he is receiving from the property that we bought as he is renting it out.What shall I do?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How far has the divorce reached?
What assets and debts are there and what income do you each have?
How long were you living together and are there any children involved?
Clare
Customer: replied 2 years ago.

Hello,

Thank you for your response.

We are yet to start any divorce proceedings.In the letter he wants me to agree to spilt the debts that we had up to 2011(when we separated).However i do not know the amount of debt that is. We have 3 three children together,two who are over the ages of 18.Would it help if i attached the letter that he gave me?

Expert:  Clare replied 2 years ago.
Hi
Yes if that is possible
Clare
Customer: replied 2 years ago.

Here is the letter sorry for the late response:

WITHOUT PREJUDICE

Precious

Financial Settlement

To make this as easy to understand as possible,I will simply list the things you need yo do and the things i will do as follows.

Things you need to do

1.Resign as director of Point 545 Limited

2.Transfer your shareholding in Point 545 Limited to me

3.Be liable of 50% of our debt as at February 2011

4.Sign divorce papers and relinquish marriage certificate

5.Give me access to the family photographs and videos

Things I will do

1.Pay you 10% of the gross CVC commission i received from UWDC on a monthly basis for as long as tje distributorship is in existence

2.Pay you 50% of the equity of 53a Deans Lane,that being the value,less any mortgage or charges

3.Be liable for 50% of debt as at February 2011

4.Continuance of life policy in your favour for £100,000

5.Fund lease on car up to £200pm until Nov 2022

6.Pay for accountant to handle tax affairs until Nov 2022

7.Continue child maintenance payments

8. Contribute to maintenance of children through university to the best of my ability

The above settlement would give you more money now with built in increases going forwards.

Some aspects of the above will take time to implement,however the payments to you could commence upon your written agreement to the above,however will be suspended should the process stall.

I would also need to have an official financial settlement drawn up,for which i will bear the costs.

Feel free to ask about anything you do not understand and if you want to proceed,please sign where indicated below.

I recommend you take independent legal advice.

Kind Regards

Lloyd

We agree in principle to the above forming the basis of a financial settlement and understand that all aspects need to be completed in a reasonable time frame and in all cases,no longer than three months.

Jennifer Daley……………………………………………………………

Lloyd Daley……………………………………………………………….

Expert:  Clare replied 2 years ago.
HI
How long have you lived together and how old are the children.
What assets and debts are there and what income do you each have?
Clare
Customer: replied 2 years ago.

Our children are 9,18 and 19

We lived together 18 years.

I do not know the amount of debts that we occurred as my ex-husband has those details.We own a house in london,that is the only assets that i am aware of.He earns around £6,000pm and i earn around £400 give or take per month.

Expert:  Clare replied 2 years ago.
Hi
Who is keeping the house in London?
Clare
Customer: replied 2 years ago.

At the moment he is in charge of the property and is renting it out.Am i entitled to half of the money he is collecting for the rent?

Expert:  Clare replied 2 years ago.
Hi
Who owns the property that you live in?
Clare
Customer: replied 2 years ago.

We both do

Expert:  Clare replied 2 years ago.
Hi
What will happen to that house?
Clare
Customer: replied 2 years ago.

Im not exactly sure,i want the house to be sold and then the money to be split two ways.What do you think I should do regarding the letter?

Expert:  Clare replied 2 years ago.
Hi
Where would you and the children live if the house is sold?
Clare
Customer: replied 2 years ago.

The house is london is currently occupied by tenants. I currently live in a a rented house in Milton Keynes with my children.If the house was sold i would continue to live in Milton Keynes.

Expert:  Clare replied 2 years ago.
Hi
How much is that house worth and how much is outstanding on the mortgage?
How much would you need to BUY a house for you and the children?
Clare
Customer: replied 2 years ago.

I am not sure of the current value of the house,as my ex-husband has this information.I haven't looked into buying a house for me and my children as of yet.I would imagine it wouldn't cost any more than £250,000.

Expert:  Clare replied 2 years ago.
Hi
Best guesses are fine
Clare
Customer: replied 2 years ago.

Do you think I should sign the letter?

Expert:  Clare replied 2 years ago.
Hi
The settlement that he is offering seems inadequate and substantially less than you are entitled to.
On that basis there is no reason to sign this - and even if you do it is not enforceable as you have had no face to face legal advice
Please ask if you need further details
Clare
Customer: replied 2 years ago.

Okay, thank you. What do you reccomnend I do next?

Expert:  Clare replied 2 years ago.
Hi
Are you willing to consider divorce proceedings?
Clare
Customer: replied 2 years ago.

Yes, but my finances are my piority.As I'm struggling financially and need this to be resolved. How should I go about getting them sorted?

Expert:  Clare replied 2 years ago.
Hi
I suggest that you tell your ex that you wish to negotiate a settlement using Family mediation (www.familymediationhelpline.co.uk) and that if he wants a divorce then you will issue a Petition based on his Unreasonable behaviour provided he pays the court fees
This will allow you to make a financial claim within the divorce proceedings if agreement cannot be reached
Clare

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