Having eventually come to realise the end of a long marriage (25 years) is in sight, with the kids have grown up and are beyond supporting age (27 & 24).
The wife gave up a high paid job almost 3 years ago due to stress, her pension was frozen and she has not bothered to claim any income support etc. We have remorgage to clear her debts once already and may have to again soon.
I'm approaching retirement in 18 months time and whilst I expect to at least share the house sale money, has anyone any idea if my pension will also be taken? Having bailed her out several times over the last few years to lose my pension as well would be the last straw.
Sorry to dissapoint you but all assets will be included and split.
My husbands first wife is now after him 5 years after their divorce, the only thing he had when i married him was his pension and she wants 70% of that when he retires! hes paid into it for the last 5 years and two of them hes been with me.
As far as pension is concerned it is seen as an asset and will be taken into account. If there is another way of dividing up your assets in order for you to keep it all then that is what would probably happen.
Not brilliant news. but the courts will divide it fairly if at all possible.
p.s... her frozen pension will be taken into account aswell though.
Louise is right, in principle your pension is an asset which can be split, but the fact that she apparently has one is obviously relevant. I'd like to suggest another line of approach.
I am a former debt counsellor ( at least in a voluntary capacity ) and reading between the lines I suspect your problem is serious if you are thinking in terms of re-mortgaging.
Before making decisions like this I think it would be sensible if you and/or your wife thought of debt advice. A re-mortgage is one option, but there may be others. There is help out there and it need not cost you anything. I would suggest that you might think of consulting a CAB, but I think you may find they have a long waiting list. I suggest you try the CAB website for some general advice on debt, and one thing you certainly can do is to get from your local CAB a booklet called DEALING WITH YOUR DEBTS.
I also think it would do no harm to make an appoointment with your local CAB and get advice on benefits for both of you. The fact that you are, or shortly will be, living independent lives on a reduced income can mean that benefits come into play. In any event, benefits are, or can be, an important part of the debt advice process.
Sorry I can't be more helpful, but this is a line I think you should explore.
That was my husbands BIG MISTAKE! He never got a Consent Order at time of divorce, but apparentely it would not of mattered even if he did, as they never had legal advice, at the time. They had a verbal agreement that he would take on all debts and take on the care of the children and provide for them, she walked away with a clean slate, new partner and was able to move on and make loads of money in property deals. He was left in negative equity and debts running into thousands, which Five years later we are still paying for, one way or another, as soon as she heard we had got married (remember shes living with a fella, she also is on her 3rd partner since they divorced)she started ancilliary relief proceedings. The only asset he had left was his pension and she wants 70% of that when he retires in 5 years time! she also wants 45k from our house! Which was mine when he moved in with me! I paid all their debts off from remortgaging my house.
As for your question whether an ex wife can claim any of his pension if its not in the Consent Order, depends on what was agreed in relation to his pension at the time.....i.e....did his ex get more of the assets in lou of his pension? Was it fair at the time? Was it disclosed at the time? Remember anyone can ask or try to get anything they want, whether they get it is another matter. Could cost them alot of money trying. Once a consent order has been made which hopefully involves a Clean Break order its very difficult to try and come back. (although not impossible) If there is any SM or whatever leaving the door open then thats easier.
I cant really comment much on what is or what could happen as we have been told, a different Judge a different day, a different result! There are no strict rules, it all depends on the information on the day.