Going Solo after 28 years

Separation is a possibility at the moment.

We have one son aged 22 at home.

Been together now since 1988. We never married although we bought an engagement ring. We didn''t sign any ''prenup'' agreement, only a verbile agreement if I remember rightly.

We bought the house in joint names and we have no the mortgage. From day one we combined our salaries to pay for everything from food, fuel, holidays, cars etc.

I''m now in early retirement and taking the works pension of just over £1500 a month paid into our joint account. I also took 25% tax free which is in the same joint current account.

She works part time picking up circa £100 a week with a small company pension.


We own the property outright and have savings over £300k which includes my tax free lump sum. The rest is in ISA''s in joint and single names and two accounts with Schroder with single name on.


So if we separate what would she be entitled to?

Can she claim from the pension being my main concern.

thanks in advance

Welcome Going Solo,and also sorry that your here...

Firstly I won''t be of any help to you,but replied to let you know that some wise wiki will come along and possibly be able to help,weekends are always quieter..

There are assets that amount to quite a healthy pot,and the facts are you have been in a de facto relationship for many years,you will hopefully be able to talk things through amicably and decide together,but then get it rubber stamped,or if no such agreement a Solicitor will advise best way forwards.
You have both appeared to have put into the joint account and not kept things separate,which may have some impact unfortunately...
I really don''t know about pensions though,but maybe you need to sit and talk and together try to come to an agreement that is fair to you both,that way you will save on Solicitor fees,but as I said rubber stamp it...

Sorry I am no help,but someone will be along..

Hopefully you will sort things out amicably
Cwtchs
Afon x

If your not married what is in your name I yours and what''s in her name is hers.

Anything in joint names would be 50/50 unless there is something to prove otherwise.

Problem may be your lump sum being in the joint account unless you are happy to share it.

Pension
Anyone who''s not married got experience if you had to share or not?

WYSPECIAL wrote:

what is in your name I yours and what''s in her name is hers.

Anything in joint names would be 50/50 unless there is something to prove otherwise.

Problem may be your lump sum being in the joint account unless you are happy to share it.

Don''t mind sharing the lump sum if it eases her passage to new pastures.

Some savings we have although in single names it''s money we put away as a couple so not worth the hassle / upset of fighting over it.

As you were not married there is no requirement to divide any pensions. In fact there is nothing in legislation which allows a pension to be transferred in part or whole to another person except during a divorce.

As you have already withdrawn your lump sum this is counted as savings, not pension. In a similar way your monthly income is paid into the joint account so what has already been paid will be seen as joint.

Luna Shadow wrote:

In fact there is nothing in legislation which allows a pension to be transferred in part or whole to another person except during a divorce.

As you have already withdrawn your lump sum this is counted as savings, not pension. [/quote]

That''s fine I''d share rather than leave her without as there''s no infidelty or anything else just a breakdown in getting along and seeing eye to eye.

In a similar way your monthly income is paid into the joint account so what has already been paid will be seen as joint.

Thanks. We live off the pension week by week and save from it as it all doesn''t get spent.