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.


Endowment policy split

  • mickeym1
  • mickeym1's Avatar Posted by
  • Senior Member
  • Senior Member
More
23 Apr 12 #326042 by mickeym1
Topic started by mickeym1
Hi all

After over a year I am finally divorced and the judge has signed our Consent Order.

In it he agrees that our endowment policy is to be split with me getting a slightly higher amount than my ex-wife. My question is, is it possible to ask the policy issuer, in this case Prudential, to issue cheques to each of us for varying amounts?

If so what would we have to supply to the Prudential for this to happen.

Many Thanks

  • TBagpuss
  • TBagpuss's Avatar
  • Platinum Member
  • Platinum Member
More
24 Apr 12 #326281 by TBagpuss
Reply from TBagpuss
usually, yes. The company will usually have a standard form which allows you to say how you want the money to be paid - you an write on this
1) cheque for £5,000 made payable to Mr MickeyM
2) cheque for £4,000 made payable to Mrs MickeyM

Provided that the form is then signed by both of you there shouldn''t be a problem.

You can usually request the forms to surrender/encash the polcy over the phone so you can ask, when you ring up, whether there is any difficulty in having 2 cheques sent to 2 different adresses.

please note: normally, the company will not pay out unless then have surernder forms signed by both of you, even where there is an order in place.

They may need to see proof of ID or addresses, especially if weither or both of you has changed your address from the one they have on their records. Usually the form they send you will tell you what (if anything) else they need from you.

  • mickeym1
  • mickeym1's Avatar Posted by
  • Senior Member
  • Senior Member
More
25 Apr 12 #326552 by mickeym1
Reply from mickeym1
Very many thanks for your clear reply.

Cheers
Pete

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11