Decree Absolute/Finances

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Hello,

Just after some advice please.

My ex and I split 5 years ago. She started divorce proceedings last year and the Nisi was granted in November on the grounds of 2 year separation and she wrote a monolog of lies to get it under "unreasonable behaviour" too. I wanted to fight the unreasonable grounds behaviour but was advised that because I also wanted to be divorced from her I should just swallow it and try and let it go (which wasn't easy and it wasn't easy to read the things she wrote about me too.)

We are currently trying to come to a financial settlement (she walked away with a lot more than I did) and I have suggested a lump sum settlement instead of us filling out the form E (I have nothing to hide in assets/pension/property at all.) She came back agreeing to the lump sum but put all sorts of clauses behind it so i am worse off so I haven't agreed and put that to her solicitor today.

I don't have a solicitor because I can't afford one. All I want is a small (in comparison to what she had) sum and then we can move forward.

The thing is she is quite controlling in that she won't like me not just accepting her offer and will set out to do something underhand and sneaky.

Can she apply for the Decree Absolute and leave me high and dry with no financial settlement at all?

Bump

What are the assets she wants?

Any children?

Who do they live with?

Sore the lump sum is for me because I am saying if she gives me the lump sum (which is less than 25 grand) we will call it quits. She kept the house/furniture/car which is fine because she lives with our (only) son.

Can she just apply for the absolute without the settlement?

Sorry not sore

A decree absolute does not stop your financial claims proceeding, as long as you don't go marrying someone else.

Ok thank you. I had visions of her going ahead with the absolute and leaving me with nothing. I've got another partner now but it's too early days to be thinking marriage!

To OP

Might be better to resolve settlement before Decree Absolute is issued to avoid any potential issues with Capital Gains Tax on transfer of assets? Until Absolute is issued you are still Husband and Wife and transfer of assets between the two of you is not subject to Tax.

Might be better to resolve settlement before Decree Absolute is issued to avoid any potential issues with Capital Gains Tax on transfer of assets? Until Absolute is issued you are still Husband and Wife and transfer of assets between the two of you is not subject to Tax.

This advice is dangerously incorrect. Inter-spouse transfers are only CGT exempt until the end of the tax year of separation.

To Collaborate

Oh dear! I separated in March before end of Tax Year, but 1st settlement cash instalment was received in October the following Tax Year and the 2nd instalment (also cash) the following September in another Tax Year. Am I liable to CGT?

Ask an accounting. No one can tell you on that information,

Accountant.

To Mrs BertBibby

First instalment was a 6 figure sum and second instalment was a 5 figure sum. Both well above the CGT allowance for a Tax Year.

First instalment was before Decree Absolute. Second was in Tax year after Decree Absolute

Ask an accountant!

Family lawyers generally don't give tax advice, other than to flag and signpost to an accountant. And that is still not nearly enough information for an accountant to advise.

Decree absolute won't be granted until finances are sorted as there's a child involved. Can you try mediation?

Completely incorrect, backpack.

To MrsBertBibby

Okay will seek advice from an Accountant. Hope I am okay as most of the settlement cash was used to buy a house. Would not like to be forced to sell it to pay CGT!

backsackcraic my ex refused to respond to any correspondence after decree nisi, just to try and delay absolute. After months of frustration we applied for absolute without financial arrangements. Judge granted decree absolute. Ex changed his tune very quickly then to try and get it all sorted out!

and their were two small children

Backsack she has been invited to mediation by the person I had an initial session with but she refuses. It's very difficult when someone just ignored you too.

I put my settlement proposal to her at New Year and despite me trying to contact her to ask her what is happening she just ignores. So I sent her solicitor an email last week and finally got a reply after over 2 months where she has agreed to my settlement but has put clauses in it so she can pay me less of a settlement. Unfortunately she's greedy and I'm only asking for a small sum in comparison to what she has kept. I'm worried she'll apply for the absolute then find some clause where she doesn't have to give me anything because that's the sort of thing she does. Her father is an accountant and brother a lawyer so they are very good at finding get out clauses to shaft me.

I just want this over with but her offer is a piss take and I just cannot accept it. She won't like that and won't like that I've come up with a compromise (there is no compromise with her and it's always all her way) so she will find a way to screw me.