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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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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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CETV on separation

  • peteringout
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10 Jan 08 #10404 by peteringout
Topic started by peteringout
Hi all,

My wifes lawyer has asked for a CETV valuation on my NHS pension. We still live in the same house but are in the process of separation. My understanding of such things is that these are provided at the time of actual divorce and not separation?

Also, to get the valuation from the pensions agency I have to state the date of the separation or divorce. If I we have not separated how can I state this?

Finally, if we have a judicial or legal separation, would my wife then lose such things as death benefits (lump sum), etc?

Thoughts appreciated.

Peteringout

p.s. I am in Scotland if that makes a difference

  • Peter@BDM
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10 Jan 08 #10405 by Peter@BDM
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You are probably entitled to a free valuation (CETV) from the NHS pension scheme. Schemes can take quite a while to produce a CETV, up to three months. In most circumstances, you can get one free valuation in a twelve-month period. If you get a free on now and need another within the same twelve-month period – perhaps when negotiations are nearing completion – the scheme is entitled to charge you for producing it. The NHS Pension Scheme currently charges £300 for an additional CETV within the twelve-month period. There is a document on the NHS pension scheme web site that sets this out - www.nhspa.gov.uk/site/Advice/Current/Sched_of_charges.pdf. You might like to point this out to your lawyer and suggest that it could be appropriate to wait a while before you request the CETV, unless s/he thinks that everything will be completed within twelve months!

  • Fiona
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10 Jan 08 #10406 by Fiona
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In Scotland all the assets including pensions are disclosed according to their value at the date of separation. Even if you are live in the same house you are separated if you are living separate lives. I took the date of separation as when my ex moved out, but he wanted to back date it to the time he first received a letter from my solicitor which was fine.

Separation Agreements usually contain a clause discharging rights of inheritance from each other and once registered are legally binding.

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11 Jan 08 #10431 by peteringout
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Thanks Fiona and Peter,

So once the Separation Agreement is signed is it like divorce in terms of any future financial benefits e.g. if she or I gain money from a will, or win the lottery (chance would be a fine thing), etc. we are not able to call on that money? Also, would wife lose death benefit from my pension if I die in service before an actual divorce? Is the date the CETV is valued from the final one, that is, if we divorced two years from now would it have to be updated to its value then?

Whatever else happens I really don't want my wife to lose out in this.

Thoughts or advice appreciated.

Peter:blink:

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11 Jan 08 #10436 by Peter@BDM
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I can assist on the pension issues. Have a look at a recent posting in the Financial Forum - www.wikivorce.com/divorce/Divorce-Forum/...-lump-sum.html#10403 – if you have any questions arising, don’t hesitate to post again.

Peter.

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12 Jan 08 #10508 by peteringout
Reply from peteringout
Thanks again Peter,

That link made many things clearer I thought that the DiS benefits went to the state and am hertened to know that I can allocate them to my wife (or anyone else I may choose to). I think that Fiona answered my question on things like inheritance, lottery wins, etc. that is, wife would not have any claim on such and vice versa after Separation Agreement. It seems to me that this is effectively the same as divorece with the exception that one cannot re-marry until divorce?

Which begs the question, if either my wife or I had a relationship with another person post the Separation Agreement, when it came to divorce, could adultery be cited?

Peter :)

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09 Apr 08 #19033 by Williteverend
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Fiona
You say that in Scotland assets valued at date of separation. Is it different in England? In particular for pensions I have read that pension sharing orders is based on the value at the date the order is given. If there has been a long period between separation and divorce the value of the pension CETV can change significantly!

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