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MARTINT330
MARTINT330,
Category: Family Law
Satisfied Customers: 2069
Experience:  Expert
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What am I entitled to in divorce settlement, No children,

Customer Question

What am I entitled to in divorce settlement
JA: What are the assets involved here? Are there any minor children?
Customer: No children, home is mortgage free
JA: Were any marital funds used for the mortgage or property improvements?
Customer: Yes joint
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No
Submitted: 14 days ago.
Category: Family Law
Expert:  MARTINT330 replied 14 days ago.

Hello, my name is***** hope you are well today. I am a qualified Solicitor, and I will be able to help you by providing you with an answer to your question today. I specialise in UK and Irish Law. I am not always online but rest assured if I do not respond immediately I will respond when I return.

Expert:  MARTINT330 replied 14 days ago.

Is there anything else you feel is relevant to your question or anything else you would like to add before we continue?

Expert:  MARTINT330 replied 14 days ago.

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:

  • pensions
  • property
  • savings
  • investments

Expert:  MARTINT330 replied 14 days ago.

Each marriage is unique and the circumstances must, therefore, be assessed individually in terms of reaching an appropriate divorce settlement that is fair and reasonable. Before looking at how money & assets may be split in a divorce settlement, you need to know the difference between assets.

Matrimonial assets are assets that you have built up or acquired during the period of marriage are known as matrimonial assets or marital assets. These typically include property, pensions, savings, personal belongings, and cash in the bank. These assets will always be added to the overall ‘pot’ and will need to be split fairly. Bear in mind that fair doesn’t necessarily mean 50/50 of everything.

Whereas, non-marital assets are financial assets that were acquired before entering into the marriage, for example, property, pensions, businesses, etc. These assets are usually treated differently from matrimonial assets, however, they aren’t necessarily excluded from a divorce settlement.

Customer: replied 14 days ago.
Thanks Martin
Is an inheritance that has not been paid to her yet be included in the settlement
Customer: replied 14 days ago.
Her pension pot started before we met 30 years ago, how is that usually shared
Expert:  MARTINT330 replied 14 days ago.

Inheritance, whether it has been received or may be received in the future, is not automatically included when splitting assets on divorce, but, depending upon your circumstances, it can be taken into account.

Expert:  MARTINT330 replied 14 days ago.

The court usually take any pension rights into account. This would normally mean the total value of all pension rights, regardless of when they were built up.

Customer: replied 14 days ago.
Thanks,
Can legal settlement papers be created online or do I need the service of a solicitor
Expert:  MARTINT330 replied 14 days ago.

A solicitor is required, otherwise the settlement is not legally binding.

Customer: replied 14 days ago.
Great thanks
I think that's all for now
Have a great day
Andy
Expert:  MARTINT330 replied 14 days ago.

No problem. Thank you for your enquiry today, please don’t hesitate to contact us in the future.

Expert:  MARTINT330 replied 12 days ago.

Thank you for your question on JustAnswer. I am always available to help and please do let me know if you have any other questions I can answer for you.