Does this seem to be a fair finacial settlement?

elsien

justworriedabit said:

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

Because regardless of what the couple agree, in signing off the agreement the judge has to consider that it is a fair and reasonable settlement for both parties.
The relationship issues that have led to the divorce are irrelevant. 

And as there is no pre-nup here either there seems to be very little point in going on about it. 

sassyblue

justworriedabit said:

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

A judge isn’t unless a Consent Order is sought - which it always should be - as it provides a clean break and prevents further financial claims against each other both in life and death.  The Judge will look over the Consent Order and an accompanying document called a Statement of Information which lists the assets, debts and pensions of both parties.  Based on the facts the judge will either approve the Order or return it with any queries they may have. It is possible to still get the order approved providing it’s not majorly imbalanced and both parties confirm they have had the benefit of legal advice, plus perhaps an explanation of why it appears to favour one party.

Also, nobody needs to attend Court, the judge will simply look over the documents sent to the Court.

your other comment about not giving the wife much settlement because she’s pregnant by another man is irrelevant as you don’t know the background to the marriage and the reasons for its break down plus judges aren’t interested in why the marriage broke down but a fair settlement for both parties going forward.  A prenup isn’t legally binding but the agreed contents of it would be considered in a divorce, however, not in the sense of why the marriage broke down.

sassyblue

comeandgo said:

She is really selling herself short here.  You look at the value of pensions, not how much you get per annum.  I would think to get £8000 per year the value is 6 figure.

It could be a pot valued at around £250,000 I’ve quickly calculated??

you could do without a Consent Order OP but it wouldn’t stop your wife coming back for more at a later date which is risky.  You don’t say how old your other two children are but with your wife taking £140,000 and you having a £200,000 property plus your pension pot to care for two children - on a very rough estimate - you are taking up to 75% of the marital assets, it is doable and looks to be the top estimate with what the sole carer of the children can achieve if they are young children, however, it would be a good idea to take legal advice on the actual facts and confirmed figures.

justworriedabit

sassyblue said:

justworriedabit said:

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

A judge isn’t unless a Consent Order is sought 

Thank you for confirmation I was right to think that a judge does not have to be involved.
When I read the other posters comments, I thought that can't be right, so thanks.

burlingtonfl6

comeandgo said:

She is really selling herself short here.  You look at the value of pensions, not how much you get per annum.  I would think to get £8000 per year the value is 6 figure.

He is having the children. Doesn't that mean he should get the vast majority?

TBagpuss

OP, are costs of living lower in your wife's home country? 
Is she still in a relationship with the father of her child?
Is she significantly younger than you? 
Based on the very limited information you've given, I'd say that the split she is suggesting is probably less generous that what she would get if a court were making the decision - the £40K means she will be getting less than 50% of the capital assets, she's not getting any pension and it sounds as though you probably have a higher earning capacity, so even taking into account the fact that you will be caring for the children, it's fairly generous to you.

However, it's probably within the range that would enable a judge to approve a consent order - especially if you can  provide reasons why it's fair (for instance, if costs of living are lower in the country where she will be living, if you are older so have less time to work / build pensions until you retire, if she is planning to live with, or will get financial support from, her new partner) 

However, since the split is in your favour it is very important that you do get  a proper order drawn up and approved by the court, as without one, no agreement which you and she make will be legally binding, and she could come back and seek to claim against the property or your pension in the future.

Will she be entitled to claim any kind of benefits when she moves  to the other country?  Or does she expect to be able to work to support herself there? 

jackieblack

justworriedabit said:

sassyblue said:

justworriedabit said:

Kynthia said:

So your assets are £300k in property, your pension (which could be valued at possibly a couple of hundred grand) and any savings?

She is willing to take £140k which seems very low and a judge might not sign off on such an unequal split. However you'll be housing the children you had together and it doesn't sound like you expect much in child support from her, so these could then justify an unequal split.

Have you sought any legal advice?

Correct me if I'm wrong, why is a "judge " needed when both sides agree?
IMO the offer is very generous in the circumstances.

A judge isn’t unless a Consent Order is sought 

Thank you for confirmation I was right to think that a judge does not have to be involved.
When I read the other posters comments, I thought that can't be right, so thanks.

 But it’s the only way to formalise the agreement and make it legally binding.

Without a Consent Order, she can keep coming back for more in the future. A Consent Order makes the financial agreement official and severely limits her ability to ask for more later (effectively, only if you’ve lied about your assets).
IMHO a CO is essential and only an idiot divorces without one.

TBagpuss

justworriedabit said:

Thank you for confirmation I was right to think that a judge does not have to be involved.
When I read the other posters comments, I thought that can't be right, so thanks.

A Judge dose have to be involved. It's just that where there is a agreement, the Judge's involvement means that they read and approve a pre-drafted order, so it is all dealt with on paper, and the parties don't have to physically go to court or have any direct interaction with the Judge, and the Judge isn't actively involved in deciding what the settlement should be. 

Where a consent order is involved, the Judge can either approve or reject it, but can't substitute a different order instead. If they reject it, normally this will be on the basis that they can't approve the order as it stands and require more information, so normally what happens in that situation is that the Judge would ask specific questions or ask parties to explain further why the order is appropriate. (or sometimes ask them to amend it because the wording is not appropriate) 

It's the same with a divorce. A judge is involved but the parties won't normally see or speak to them, they will simply fill in the relevant forms and get back the divorce once a Judge has reviewed them and granted it. 

Gavin83

I agree with the others to a degree, it's slightly biased in your favour. Saying this I'd expect you to get the majority of the assets given you'll be supporting the children and presumably based on what you've said you're a fair bit older than her. 75% of the assets isn't unrealistic if she agrees but ultimately if this went to court she'd likely get slightly more.

Get her to see a solicitor, get it agreed by a judge and then it's all sorted.