A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

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.


More form E querise - Saver share accounts?

  • esox11
  • esox11's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
06 Sep 12 #354251 by esox11
Topic started by esox11
My company operates a saver share scheme - money is taken from wages each month for 5 years and we can opt to keep savings inc interest at the end or buy shares at the price they where given at the start of the scheme.

My query is where to put this on the eform.
Money is in a Halifax sharesaver account. Do I add this to the general banking details?
OR
Do i have to estimate how many shares i will be able to purchase in 2 years time and their value? Then put it in other assets / page 13?

  • dukey
  • dukey's Avatar
  • Moderator
  • Moderator
More
07 Sep 12 #354359 by dukey
Reply from dukey
Because you don`t really know what will happen its best to state them in other assets, i take it you don`t actually have access to the money until the five years is over, it matures in other words?.

  • esox11
  • esox11's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
07 Sep 12 #354364 by esox11
Reply from esox11
I can cancel the plan and remove the saved cash at any time.
The shares are currently doing well and my worry is if I declare the today price when it matures in 2 yrs things could be very different. Shares go down as well as up etc.
At the end of the 5 yrs I can take the cash or opt to buy shares. So I thought just declare the cash in bank account was the way to go? Also lessens my asset values?

  • dukey
  • dukey's Avatar
  • Moderator
  • Moderator
More
07 Sep 12 #354367 by dukey
Reply from dukey
If the shares are doing well and you declare them as liquid rather than other assets they will be considered for division, and ok if you add them to other assets it will be the same, but the former is far more likely to be divided.

  • esox11
  • esox11's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
07 Sep 12 #354381 by esox11
Reply from esox11
Thanks dukey,
I only have cash in the bank at present and no shares? I will get an option to purchase some in 2014 if still with the company.
If I loose my job tomorrow I will only have that cash and not the prospective share value?

I had sort of assumed like an endowment policy the declared value should be the value if cashed in today? So in "other assets" I assume i put the cash value in the account today??

  • dukey
  • dukey's Avatar
  • Moderator
  • Moderator
More
07 Sep 12 #354385 by dukey
Reply from dukey
You do yes its what the asset is worth today, so for the policy its the surrender value, in other assets.

  • WYSPECIAL
  • WYSPECIAL's Avatar
  • Moderator
  • Moderator
More
07 Sep 12 #354387 by WYSPECIAL
Reply from WYSPECIAL
esox11 wrote:

My company operates a saver share scheme - money is taken from wages each month for 5 years and we can opt to keep savings inc interest at the end or buy shares at the price they where given at the start of the scheme.

My query is where to put this on the eform.
Money is in a Halifax sharesaver account. Do I add this to the general banking details?
OR
Do i have to estimate how many shares i will be able to purchase in 2 years time and their value? Then put it in other assets / page 13?


Sounds like a SAYE scheme. You don''t own the shares or get dividends from them you merely have the option to buy them at a fixed price at some point in the future. Whether or not you exercise that option will depend upon the market price for the shares at the time.

The value you need to put on your form E is the value of the savings plan today if you withdrew your savings from it. This will equate to what you have paid in plus interest depending on how long each of the plans has been running. You will be able to get statements from Halifax.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11