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

01202 805020

Lines open: Monday to Friday 9am-5pm
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.


my pension

  • Hen1212
  • Hen1212's Avatar Posted by
  • Junior Member
  • Junior Member
More
03 Feb 08 #12708 by Hen1212
Topic started by Hen1212
If it came down to divorce would my pension come into the equation because my wife is a low earner ? hardly seems right when she has only worked part time for the past 22 years and I have paid all the bills and the mortgage.

  • attilladahun
  • attilladahun's Avatar
  • Platinum Member
  • Platinum Member
More
03 Feb 08 #12723 by attilladahun
Reply from attilladahun
Most certainly it would

Why wouldn't it?

A Pension is only a gloried savings plan

After 22 years why wouldn't you want the pensions of you and your wife NOT equalised?

s 25 MCA 1973 says the Pension is an issue that must be considered with other factors NOW that doesn't necessarily mean she gets your pension maybe you will keep it and she will get more capital in lieu.

"hardly seems right when she has only worked part time for the past 22 years and I have paid all the bills and the mortgage"

What about W bringing up children and putting any career on hold to do so????

  • Hen1212
  • Hen1212's Avatar Posted by
  • Junior Member
  • Junior Member
More
04 Feb 08 #12780 by Hen1212
Reply from Hen1212
Points taken and thanks for clarification. She is a self employed hairdresser with partner and not ambitious at all. She is happy to have her meagre wage supplemented by child allowance although that will disappear when youngest becomes 18 in a few months. I can see that if I follow this through to the bitter end I could end up being poor unless the other party does have the feelings for me. I have a chance of working away in the spring and I will take it to get more funds and try and secure a better financial future for all concerned including me. It could take a couple of years but I'll do it if it kills me because at present I feel incredibly unhappy , but I suppose things could be worse.

  • mike62
  • mike62's Avatar
  • Platinum Member
  • Platinum Member
More
04 Feb 08 #12792 by mike62
Reply from mike62
Mal,

Just to be clear, so you don't get the wrong idea.

Everything that you own as a married couple is in marital assets pot - there is no 'I own a 50% share in a house with my sister' - The share is part of the asset pot, as is your pension.

Equally, if your wife owns assets for her business, they too are part of the pot.

If you either jointly, or singly have any pensions, investments or other assets, they too are in the pot

You have had a long marriage, so the starting point for the division of assets is 50:50

Your wife is a low earner and as such will probably get a better split of the marital pot, as she will have the greater need, post divorce - That might be 60%, leaving you 40%. You would need to post up details about your incomes, house value, outstanding mortgage if any, loans, other assets over 50% for someone to give you a guess at how the assets might be split.

Just want you to be clear about the division of assets.

Mike

  • Hen1212
  • Hen1212's Avatar Posted by
  • Junior Member
  • Junior Member
More
04 Feb 08 #12835 by Hen1212
Reply from Hen1212
Think she has a small ISA and all other assets I have accrued and paid for. Her business is rented and good will when they took it on cost £200. So she has in the main bought up the kids I have helped but apart from that my earnigs have provided most things although she has contributed to holidays. Can I transfer ownership of the other house ( which was dads) to my sister to safeguard my interest ?

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11