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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.

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Divorced, Pension in 3 years, CSA payments ?

  • GalaxyQuest
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20 Jun 12 #337780 by GalaxyQuest
Topic started by GalaxyQuest
I suppose my question could fall into any category of 3 - so here goes.......
Seapated in 2004, ex moved away 2005, divorced 2007. Had been married since 1991.
Kids now 17 & 15.
At time of separation I paid ex an amount for proceeds of profit from house and Clean Break from my pension.
I retire in 2015 and will be paid a lump sum and monthly occ. pension.
1 child still to pay "CSA" for until Aug2016.
So, do I have to pay my ex any percentage of my lump sum as it may be classed as an income ?
Ex has since remarried, as have I.
Any answers greatly appreciated.........
GQ

  • Tirov
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20 Jun 12 #337885 by Tirov
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Looks like you got away lightly! As your ex didn''t ask for her 50% of the pension then she can''t come back at your pension pot. She may however be able to go for her former Solicitors for not getting her part of the pension. It depends on what she said to her former Sols.
Tirov

  • Fiona
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20 Jun 12 #337893 by Fiona
Reply from Fiona
Sounds to me as though equity in the property was offset against the pension so there would be no claim against the solicitors.

To answer the question the basic CSA assessment is based on your income i.e. the monthly pension payments. The lump sum is treated differently. How much will it be and what do you intend to do with it?

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21 Jun 12 #337984 by GalaxyQuest
Reply from GalaxyQuest
Cheers for the replies people.
Additional info is that........
At time of split, Ex was living in same house and could not move out until she had money from me......
I could not afford to pay her any more than what I was offering £65K - her solicitor said value was nearer £95k ( of house profit AND pension value at that time ). Selling the house was not happening for the price she wanted for it so I bought her out ( owch ) to set her on her way with what SHE wanted to do. As I could not afford anymore than what was offered, she took it, agreeing to a Clean Break settlement.
8 years later, I am about a year away from clearing the debt I was left with when she left, but very near to a (hopefully) happy retirement.
So my question........ is my lump sum classed as income and subject to coverage by CSA payments ?

  • maisymoos
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21 Jun 12 #338043 by maisymoos
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As Fiona says how it may be treated by the CSA really depends on how much and what you use it for.

A variation claim can be made if you have assets over £65k other than the home in which you live. So if you use it to pay off your mortgage you are probably safe if you alternatively put it into savings a variation application could be made.

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