Terry & Co Home

Welcome! Log In Create A New Profile

Advanced

No fault divorce timeline and financial settlement

Posted by joe25 
No fault divorce timeline and financial settlement
May 31, 2022 03:11PM
Husband said he filed for a no fault divorce on the 18/05/2022. I still haven’t received any noticfiation by mail or post. I have a feeling he is playing games as he wants me to agree to a very greedy settlement first. he wants to keep his business shares (worth millions of £) and give me the house which is woth 300000£. He doesn’t want me to interfere with his business shares if I want a full custody of our child (he is the founder of the business and the majority share holder). No other assets a part from the house and the business.
married for 12 years and living together for 14 years. 1 son of 4 years.I am 41 and he is 49.
1-does it usually take weeks to receive a notification about the no fault divorce once ithe application is filed?
2- what was your settlement for those who went through a similar situation?
Re: No fault divorce timeline and financial settlement
May 31, 2022 05:58PM
It can take this sort of time between sending in an application for divorce and hearing anything, yes. You would need to speak to a solicitor and explain the position in considerable detail in order to get proper advice about the shares. However, you shouldn't assume that you are entitled to half the shares (although you might be). It is simply that this type asset is more complicated for a number of reasons. (1) They appear to be shares in a company through which your husband derives his income. (2) He is not the sole shareholder. (3) Such shares may not be easily marketable. (4) There may well be a shareholders' agreement which affects what can be done with them. It is because of factors like these that you need to sit down with a solicitor to understand what is realistic so far as this class of asset is concerned.
Sorry, only registered users may post in this forum.

Click here to login