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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.


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.


SM/Inheritance

  • Gillian48
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06 Jul 21 #517197 by Gillian48
Topic started by Gillian48
Please could someone advice - my ex has a court order to pay me SM until I remarry/die or further order - it had to go through attachment of earnings order due to him originally refusing to pay. The SM has been paid for several years - the ex has had a couple of promotions at work and is due to retire maybe in a few years with a good pension. Due to a family bereavement I have come into a small inheritance and now my ex wants to end paying SM, I have suggested a small reduction but he's insisting it ends. The payments I receive are quite substantial monthly and he has suggested I live of my inheritance which seems unfair as if I did what happens when the money runs out? Has anyone any advice or had experience with a SM order and receiving inheritance? Thank you.

  • hadenoughnow
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07 Jul 21 #517202 by hadenoughnow
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If your inheritance was used to replace SM, how long would it last?

If you have been awarded SM for life as part of a court order then I cannot see how small inheritance would change that. How long ago was the financial settlement??

Variations to maintenance can be tricky though. You have to show that you still need the funds to help with the costs of living. I guess if the inheritance say allowed you to be mortgage free your outgoings would reduce.

He cannot make changes without a court order for variation.

Hadenoughnow

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07 Jul 21 - 07 Jul 21 #517207 by Gillian48
Reply from Gillian48
Thank you for your reply the order was made in 2014 - I don't have a mortgage so my outgoings wouldn't reduce. The ex wants to end the SM order and expects me to live off my inheritance. As you said what do I do when that runs out? I do have a small private pension but he's also suggested I can keep withdrawing from that too as I'm over 55yrs old now? Neither will keep me going for very many years - it just doesn't seem right. The inheritance is due to be divided between myself and my sister - someone has suggested doing a deed of variation and leaving my inheritance to our children - then I wouldn't have any? Not sure if that would go against me though? Just thought someone may have some advice. Thank you
Last edit: 07 Jul 21 by Gillian48. Reason: Add on info

  • WYSPECIAL
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09 Jul 21 #517216 by WYSPECIAL
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Giving it away is unlikely work as it can be just treated as if you still had it.

Does your current spousal maintenance have an end date or is it for life?

  • Gillian48
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09 Jul 21 #517218 by Gillian48
Reply from Gillian48
Thanks for your reply. I thought doing a deed of variation against the Will would go against me, it just the ex is saying he wants to stop the spousal maintainence and I should live off my inheritance and keep withdrawing out my pension pot. Which wouldn't take me too long until it's run out. It was a lives order and stated until I die, re-marry or until further order. I have agreed to a reduction but his reply was it should end. The divorce was rough and went to a 3 day final hearing as the ex has a substantial salary and doesn't like parting with money.

  • mirage63
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09 Jul 21 #517222 by mirage63
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Surely what you do with your pension is your business and is needed for future income and not to reduce his payments? Would he like it if you asked for some of his lump sum payments?

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09 Jul 21 #517223 by Gillian48
Reply from Gillian48
I totally agree my private pension is for my future benefit - it's not much anyway but will help a little when I start to receive my government pension in 10yrs time. He certainly wouldn't like it if I asked for some of his lump sum payments. Once he retires in the next few years he will get a substantial lump sum as it's a good pension scheme. Just not sure what the best way to proceed is - I think I'll have to get some legal advice. Thank you

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