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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 Sharing Charges

  • barnaclepete
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03 Apr 12 #321489 by barnaclepete
Topic started by barnaclepete
Hi - wondered if anyone could help. My soon-to-be-ex and myself have agreed to a 50/50 pension sharing arrangement - but there will be a charge of around £2K for this, which has to be paid before implementation of the pension sharing arrangement.
My lawyer is suggesting that this charge is shared between me and my ex, but I don''t think my ex has the money to pay this up front, as she is on benefits, and receiving legal aid. (I''m working) Is it possible that her share of this pension sharing fee be paid by legal aid, and/or taken out of the proceeds of the sale of the house in the future?

Thanks in advance,

Pete

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04 Apr 12 #321595 by TBagpuss
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The pension company will not implement the order until they have been paid, and it would not be something which could be paid by Legal Aid.

It would be possible for you to pay it and for there to be an agreement (included in the order if necessary) that this be refunded to you from your ex''s share of the sale proceeds of the house.

somepension funds allow the ocosts to be deducted from the pension fund itself - have you checked whether this is an option?

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04 Apr 12 #321624 by barnaclepete
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Brilliant - thanks for the help. I don''t think my pension fund will allow the charges to be deducted from the value of the pension - they seemed pretty clear that the money has to be paid in full in advance of the sharing arrangement.

Cheers,

Pete

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04 Apr 12 #321633 by The Divorce IFA
Reply from The Divorce IFA
Hi,

Unfortunately this happens a lot and the pension schemes often do not allow payment of the charge by a deduction.

You and your ex wife will need to consider what happens if the pension sharing order cannot be implemented because she cannot pay.

I would ask the pension scheme for their suggestion. Although they will not implement they still have to consider that a court order is instructed them to do something!

Let us know what they suggest.

Regards

Phil

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04 Apr 12 #321662 by barnaclepete
Reply from barnaclepete
Thanks Phil.

I''ll ask the pension scheme, and if I don''t get anywhere with them I''ll probably just pay it all myself (somehow).

Appreciate the help.

Pete

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04 Apr 12 #321663 by The Divorce IFA
Reply from The Divorce IFA
HI,

DM me for other ideas.

Regards

Phil

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