How to get a fair financial divorce settlement

by Hannah from money.co.uk

Action Plan:

Action Plan Resources Q&A Journal Successes Discuss

Action Plan Overview

Any children will be the most important thing to consider when you split, but you also need to make sure you get a fair financial divorce settlement - we show you how to get what's yours.

		a	Find out: How much do you have in savings accounts?
		b	Find out: What is your investment portfolio worth?
		c	Find out: What is your house worth?
		d	Do: Get a state pension forecast
		e	Work out: How much are your valuables worth?
		f	Work out: How much are your life insurance policies worth?
		g	Work out: What's the total value of your assets?
		h	Work out: How much do you owe in joint debts?
		i	Work out: What assets did you bring to the marriage?
		j	Work out: What's your household income?

Join Our Community

Get fast answers to your money questions, Expert insight, top tips & much more...

		a	Find out: What's the difference in legal rights for married and unmarried couples?
		b	Find out: Do prenuptial agreements stand up in court?
		c	Find out: What are your rights to your property?
		d	Find out: How will the courts split your assets?
		e	Find out: Are you responsible for joint debts?
		f	Find out: Do you get to keep inheritance you received?
		g	Find out: Are you entitled to maintenance after your divorce?
		h	Find out: Are you entitled to child maintenance?
		i	Find out: Are you entitled to any financial assistance?

		a	Decide: Do you need someone to mediate your divorce negotiations?
		b	Decide: What should you do with the house when you divorce?
		c	Decide: Who should get custody of the children?
		d	Decide: How should you divide assets when you divorce?
		e	Decide: How will you manage repayments on joint debt?
		f	Decide: Will you get any maintenance?
		g	Decide: How should you split financial commitments?

		a	Decide: Should you freeze joint bank accounts?
		b	Decide: Should you cancel joint credit cards?
		c	Find out: Do you need to notify the mortgage provider?
		d	Find out: Should you notify other lenders?
		e	Decide: Should you split combined insurance policies?

		a	Work out: What's your individual income?
		b	Work out: How much do you owe as an individual?
		c	Work out: Can you afford to live on a single income?
		d	Find out: Can you claim any financial assistance?
		e	Do: Check your credit report for associations with your ex
		f	Do: Apply for a new bank account
		g	Do: Apply for a new savings account
		h	Do: Apply for a new credit card
		i	Do: Apply for a new mortgage deal
		j	Do: Arrange new insurance
		k	Decide: Should you update your will?
		l	Do: Update your council tax
		m	Consider: Can you earn more money?

		a	Do: Financially disassociate yourself from your ex
		b	Do: Adjust your spending to cope with your new situation
		c	Do: Keep on top of your household finances
		d	Do: Focus on the future

		a	Find out: What's the cost of a divorce?
		b	Decide: How will you cope with the cost of divorce proceedings?