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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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Pension offsetting

  • redwine47
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21 Mar 12 #319424 by redwine47
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Just pondering on what is reasonable. House 215k.... his pension 290k. Cld we offset these. The remaining savings /investments approx 120k. Should we go 50/50 or 60/40 for remainder . Him 52kpa(3000pm) ... me tax credits & main 600 pm,. am PWC. Have to have something in mind for nxt hearing. Legal team won''t advise? Don''t know what to do?

  • maisymoos
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21 Mar 12 #319434 by maisymoos
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Hi

I tried to offset pensions against equity it fell flat. But if you are close to retirement age you are more likely to suceed on this.

In my case assets were dealt with together and pensions were considered totally separately.

Do you have children? who do they live with? housing needs especially the childrens will be a main priority in asset division especially if your earning capacity and mortgage potential is low.

Is your wish to stay in home?

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21 Mar 12 #319437 by AnaisM
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Hello Redwine

Im sorry I cant help with your question, I havent got to the court stage yet, but was hoping you might be able to help me. I see that you too are in Northern Ireland and I havent come across anyone else on this site who is from Northern Ireland so I could compare details with. I was told by my barrister that my husband only has to support me for five years, that is the norm in Northern Ireland. I thought it was ten or indefinately, and Im stunned by this, are you aware of anything different? Married 30 years and no children.

Anais

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22 Mar 12 #319472 by redwine47
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Maisymoos, yes I wish to stay in home as child very distressed (see previous posts). Other son comes wkend at uni & will live here for final year. Support network close by etc. I will have to depend on temp contact if I get one? Both age 49. Him high earner secure job? Married 23 year
Only one child stays with stbx every other weekend.

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22 Mar 12 #319476 by redwine47
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Anais. Hi my legal team have informed me that the norm here is to go for a Clean Break if possible no mention of ex support at all . I''m quite shocked by our judicial system. Stbx is definitely pushing to pay as little as possible by telling lots of porkies to judge? Feel free to ask any thing I will try to help.

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22 Mar 12 #319479 by maisymoos
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Hi Redwine

I really don''t know anything about the law in Northern Ireland, however, due to your ages pensions are unlikely to be payable for another 16 years, so realistically I would not have thought your stbx would be willing to entertain this, or if he did it would not be at its worth but as a greatly reduced percentage of the pension real value.

The judge at my hearing looked at pensions totally separately to assets no offsetting was considered I believe this was due to our ages in that penions would not be payable for 20 years.

I understand your reluctance to move, I was too, but if you are overhoused?? this may be an issue. Where is your STBX currently living?

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22 Mar 12 #319490 by redwine47
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He is renting a very nice fully furnished 2bed apartment 375pm in a very nice area. Very good value to be honest. As I have no work at present I don''t know where I wld move to... Stbx stating I should move to another town?? That would suit him! Surely we cld not be forced to move to a place with no support network school clubs friends all within vicinity of my current home.
Eg moving costs, extra travel costs back to school clubs etc. We have pets also gdn converted to suit.

If I had to go for pension share what %age cld I expect? My pension approx 38k his 290k.

I don''t know what to do now?

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