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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


pension sharing entitlement

  • Allisonj418
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27 Jun 07 #1024 by Allisonj418
Topic started by Allisonj418
My ex reckons i am not entitled to his pension as my earning potential is greater than his. i think he is trying it on as i am only 5 years younger (he is 43) than him and he currently earns 3 times what i do and his pensions is 6 times the size of mine. i will be looking after our 10 year old child and i currently work school hours and am at the top of my payscale. His pension is almost equal to the equity in our house. he is currently offering me a thord of the total value.

Is he correct?

  • tigstheterror
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27 Jun 07 #1027 by tigstheterror
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Hi, as far as i have been told by my solicitor you can both agree to leave each others pensions alone or ask for your share,i don't think he can say how much he is prepared to let you have!!!! it's a case of how much the judge deems you should be awarded. heck with your solicitor on this but if his pension is far greater and yours isn't its up to you outwiegh whats best financially for you,but be aware if you agree to each other having a share in pensions then if your's rises after so many years he gets a share in the pension as it stands then,not previously,get it all checked out first before you commit yourself,good luck,Sherri.

  • DownButNotOut
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27 Jun 07 #1028 by DownButNotOut
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Alison,

Without you providing more precise details its hard to be accurate.

But if you have a child of 10 i assume you have had a long marriage, so..... as a simple starting point you should be looking at 50% of the combined marital assets.

So add up the house equity, both pensions, plus any other major assets - and you ought to get 50% of that.

If you provide a lot more detail we can give a better answer (assets, marriage length, relative income levels, any assets held before marriage etc)

  • Liago
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27 Jun 07 #1029 by Liago
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Allison

He is trying it on.

All the assets are added up and put into an 'imaginary pot'. Both of you will be asked to get CETV valuations done on both pensions, those values will be taken into account.
I have an extremely small CEV value compared to X.
I would have preferred to leave his pension alone and have the majority of the equity as his fund far exceeds that amount.
Once all your financial assets are collated then you will be able to negotiate a fair settlement between you - hopefully!:huh:

  • Athene
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27 Jun 07 #1030 by Athene
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I think what you need for negotiations are the transfer values of both (or all) pensions. That's what I was told. It can take a little while to get these.

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27 Jun 07 #1031 by Liago
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My above post duplicated for some reason :ohmy:

  • Allisonj418
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27 Jun 07 #1048 by Allisonj418
Reply from Allisonj418
We were married for nearly 14 years. His pension is substantially more than mine as i stated it is equal to the equity in the house and is 6 times the CETV value of my pension. He works for a financial institution and as such his salary is likely to increase and he has the opportunity to go for promotion in fact it was suggested last xmas.

The major asset at the time of marriage was that he already had a house however we lost money on that house as we were in a negative equity situation when we had to move with his work a year after we married.

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