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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.

 

Better law firm back up possible?

  • Freedom24
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15 Mar 24 #522716 by Freedom24
Topic started by Freedom24
As I guess a lot of people are at the early stages of divorce, feeling a little exposed and scared. OK, so I'm ex military with that well known big juicy pension, have literally bought the family home with no financial help from my soon to be ex, children all gone and I'm a couple of years from retirement. All I'm getting from a local Lincolnshire law firm is that I will have to split all (house and pensions), million dollar question, doe any one know of, or can recommend a law firm that will actually fight for me? I'm not trying to be crafty here, but feel I need a better firm in my corner actually to get a fair deal. Maybe one that has dealt with someone that has a military pension?
Thankyou

  • Rickoshea
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15 Mar 24 #522717 by Rickoshea
Reply from Rickoshea
Any decent law firm is likely to end up giving the same advice or you could be on your way to an even more costly process.

What grounds do you believe to have that would make a discernible difference to the splitting of assets(based on the Legal Clauses that drive the division of assets) from what on the face of it sounds a long marriage. 50/50 couldn't be a much fairer deal could it?

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15 Mar 24 #522718 by Freedom24
Reply from Freedom24
Thanks for the reply. We have been married for 19 years, although I've literally paid fro everything house wise, I'm happy enough to split that 50:50. My bone of contention is that I have a military pension, we were only together for 3 years out of my 25 years service, I do feel quite strongly that this is mine and shouldnt be up for grabs.

  • hadenoughnow
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16 Mar 24 #522720 by hadenoughnow
Reply from hadenoughnow
Are there children to consider?
Are there other pensions built up during the marriage?

Have you been married previously?

It may be possible to trade some pension entitlement for capital - so a bigger share of equity. However you do need to be aware of the principles set out in the Pension Advisory Group report 2019 updated 2024. This has clarified approaches to pension sharing. In essence prematrimonial pensions may well be shared to provide equal incomes on retirement.

You can ask an actuary to calculate sharing options with and without prematrimonial pensions but it would be up to you to present a compelling argument as to why they should be left out of any settlement. I suspect it is unlikely they will be.

Hadenoughnow

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