Pension advice please

Hi

My wife moved out a couple of months ago and has a new man friend. We were married 20 years. I have worked for 30 years. She worked for years yet despite many requests from me to take out her own pension she never bothered. What do I stand to lose from my own pension?

Thank you.

Welcome to Wikivorce.

The division of assets is usually fairly equal. Marital assets and liabilities are those accrued during the length of the marriage, up to the agreed date of separation. The only exceptions are gifts and inheritances, which remain the sole property of the beneficiary.

Pensions are a marital asset, and the pension accrued during the marriage is part of the pot, and is therefore likely to be be shared between the two parties. It could be offset against another asset, ie the FMH, or at least a further share of the FMH going to your wife while you keep your pension intact.

Thank you for your quick reply.

I have 2 follow on questions.

From what I gather my first 10 years of pension - prior to my marriage - are therefore safe, is that correct?

Secondly I was unaware that inheritances were exempt from the "asset pot". But what if part or all of an inheritance has been used to pay for part of the family home? Has it then become an asset, or does it remain recoverable to the individual as an inherited asset?

If possible please confirm that your reply is relevant to Scotland.

Thank you.

Yes, your first 10 years (pre-marriage) of pension are yours to keep and not to be divided, as is any pension you have accrued after the date of separation.

Once money has been spent, its difficult to get back, and depends on how long ago you spent that money. You could reasonably request that the inheritance spent on paying for part of the house is returned to you, and then the remaining equity is divided between the 2 parties.

And yes, my answers are relevant to Scotland - IM Head of Wikivorce Scotland, our sub-site that has bundles of information on Scots family law www.wikivorce.com/divorce/scotland

"And yes, my answers are relevant to Scotland - IM Head of Wikivorce Scotland,..."

Ooops so sorry! I did check out your profile after I posted and saw that you were in Scotland.

Thanks again

Don't worry - its a good thing to check that the responses you get are relevent to Scotland. English/Welsh family law is quite different to ours