Just starting separation/divorce process - don't want to spend a fortune on it

fawdalong

Hi all, looking for advice please

My husband and I are just starting into separation process. It is an amicable separation at the moment and we hope to keep it that way. We have amassed a small amount of savings/assets and neither of us want to have to give that away to solicitors/want to be fair to each other.

We have no children. He is going to stay in marital home and take over We are going to sit down and look at all our savings/assets/debts and start working through what goes where. We have an investment property which I will take - but I don't intend living in, will rent elsewhere.

What is the cheapest way to do this all?
Any estimation re overall costs?

Any advice please gratefully received.

Anyone who has been in a similar circumstance, If you were to go back in time is there anything different you would have done? Any advice?

Avatar MIA

fawdalong wrote: »

Hi all, looking for advice please

My husband and I are just starting into separation process. It is an amicable separation at the moment and we hope to keep it that way. We have amassed a small amount of savings/assets and neither of us want to have to give that away to solicitors/want to be fair to each other.

We have no children. He is going to stay in marital home and take over We are going to sit down and look at all our savings/assets/debts and start working through what goes where. We have an investment property which I will take - but I don't intend living in, will rent elsewhere.

What is the cheapest way to do this all?
Any estimation re overall costs?

Any advice please gratefully received.

Anyone who has been in a similar circumstance, If you were to go back in time is there anything different you would have done? Any advice?

No expert, but during the first 4 years you simply need to live apart (I think) edit - ignore, there's a formal process

Have ye both got your own incomes?

fawdalong

Yes so starting into the separation process (4 years) before we can progress to divorce.

Yes both have incomes.

Avatar MIA

fawdalong wrote: »

Yes so starting into the separation process (4 years) before we can progress to divorce.

Yes both have incomes.

Will one party be looking for maintenance from the other. If not it becomes a lot more simple.

MouseTail

Is there equity in both properties? I would be concerned that if you remortgage the investment property it would hamper your ability to raise a mortgage for a PPR.

My own experience was very amicable, agreed split of assets between ourselves, got it formalised. Cost about 3000 in solicitor fees including remortgaging costs.

MouseTail

Is there equity in both properties? I would be concerned that if you remortgage the investment property it would hamper your ability to raise a mortgage for a PPR.

My own experience was very amicable, agreed split of assets between ourselves, got it formalised. Cost about 3000 in solicitor fees including remortgaging costs.

FishOnABike

If things can stay amicable you should be able to minimise costs. You could use mediation or collaborative law practice to come to a separation / divorce agreement. A mediated agreement can be made an order by the court.

In Ireland you need to be living separately and apart for one year to apply for a Judicial Separation and four years for a Divorce.

In any case both of you should get independent legal advice to ensure no problems arise at a later date.

fawdalong

Avatar MIA wrote: »

Will one party be looking for maintenance from the other. If not it becomes a lot more simple.

No we don't intend going down that route. Both were independent before marriage, intend both after. We have no children so no need to support other. Want a clean break with no ongoing contact/support if you get my drift.

MouseTail wrote: »

Is there equity in both properties? I would be concerned that if you remortgage the investment property it would hamper your ability to raise a mortgage for a PPR.

My own experience was very amicable, agreed split of assets between ourselves, got it formalised. Cost about 3000 in solicitor fees including remortgaging costs.

Don't intend remortgaging. It is an option for me to move into RIP and pay the monthly mortgage. But instead I will rent elsewhere and pay rent.
Down the line I may move into RIP.

Avatar MIA

fawdalong wrote: »

No we don't intend going down that route. Both were independent before marriage, intend both after. We have no children so no need to support other. Want a clean break with no ongoing contact/support if you get my drift.

That's really good news. Hopefully the, 'well I bought this and I'm claiming it' personal effects stage wont cause problems. It sounds like ye are being very mature about it.

The only issue is the negative equity in the home/investment property. If about the same again it should be plain sailing.

Good luck.

Stheno

fawdalong wrote: »

No we don't intend going down that route. Both were independent before marriage, intend both after. We have no children so no need to support other. Want a clean break with no ongoing contact/support if you get my drift.

There is no such thing as a clean break in Irish Divorce.

Your best option is to go through mediation, get pension arrangements sorted with the relevant orders etc, and then get a formal seperation agreement in place.

fawdalong

Stheno wrote: »

There is no such thing as a clean break in Irish Divorce.

Your best option is to go through mediation, get pension arrangements sorted with the relevant orders etc, and then get a formal seperation agreement in place.

Thanks Stheno

What if we agree on everything e.g. the RIP v the main home.
Pensions - I don't want part of his (small personal) pension, he doesn't want part of my (very large) generous company pension
Car - he can have it
etc

We are going to do the mediation...
Then hoping an hour with a solicitor each (different solicitors) will do it.
And then court in 4 years.

Am I over simplifying? Or being unrealistic?

Stheno

fawdalong wrote: »

Thanks Stheno

What if we agree on everything e.g. the RIP v the main home.
Pensions - I don't want part of his (small personal) pension, he doesn't want part of my (very large) generous company pension
Car - he can have it
etc

We are going to do the mediation...
Then hoping an hour with a solicitor each (different solicitors) will do it.
And then court in 4 years.

Am I over simplifying? Or being unrealistic?

NO you are fairly spot on there. You will both need a Pension Adjustment Order (think that's what they are called) where you give up rights to a claim on each others pension, but a solicitor will sort that out.

You'll need more than an hour of a solicitors time as they will need to consult with you, draft an agreement, get you to review it, organise the Pension order, and then finalise the agreement.

Most of mine was sorted via mediation and then solicitor.

Fiona

fawdalong wrote: »

Thanks Stheno

What if we agree on everything e.g. the RIP v the main home.
Pensions - I don't want part of his (small personal) pension, he doesn't want part of my (very large) generous company pension
Car - he can have it
etc

We are going to do the mediation...
Then hoping an hour with a solicitor each (different solicitors) will do it.
And then court in 4 years.

Am I over simplifying? Or being unrealistic?

Seems simple enough I am in the same boat as you, separated 4 years, no kids, we owned our own properties before we got married and we are not claiming each others pension.

My friends husband (who incidentally was at our wedding) is now officiating the divorce, I have only had to have 1 meeting with him to sign the actual forms, everything else was done via email, needed to do statement of means etc

Everything appears to be very clear cut once you have no kids to fight over and don't want each others pension to be honest.

HelgaWard

fawdalong wrote: »

It is an option for me to move into RIP and pay the monthly mortgage. But instead I will rent elsewhere and pay rent.
Down the line I may move into RIP.

You sound very clued in so I am sure you already know this, but just in case you don't, you have to pay tax on the rental income of the investment property you have rented out.

fawdalong

HelgaWard wrote: »

You sound very clued in so I am sure you already know this, but just in case you don't, you have to pay tax on the rental income of the investment property you have rented out.

Yep! Paying tax for last few years, will continue.

Fiona wrote: »

Seems simple enough I am in the same boat as you, separated 4 years, no kids, we owned our own properties before we got married and we are not claiming each others pension.

My friends husband (who incidentally was at our wedding) is now officiating the divorce, I have only had to have 1 meeting with him to sign the actual forms, everything else was done via email, needed to do statement of means etc

Everything appears to be very clear cut once you have no kids to fight over and don't want each others pension to be honest.

And you didn't use different/independent solicitors from each other?

Do you mind me asking how much do you think it will cost you? broad/approx. figure...

Stheno

fawdalong wrote: »

Yep! Paying tax for last few years, will continue.



And you didn't use different/independent solicitors from each other?

Do you mind me asking how much do you think it will cost you? broad/approx. figure...

Afaik you have to get independent legal advice unless you do diy