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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.

 

Divorce and pension

  • son67
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05 Sep 24 #523928 by son67
Topic started by son67
Ex is drawing out the divorce process we have been split 12 months every time I start the process he puts the brakes on - he is due to retire in December 24 what happens if he draws his pension with regard to the finances.

The two big assets are his pension and the house does him drawing his pension affect how the finances are split.

Thanks

  • WYSPECIAL
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06 Sep 24 #523936 by WYSPECIAL
Reply from WYSPECIAL
No. The pension is still a marital asset when in payment.

  • hadenoughnow
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07 Sep 24 #523957 by hadenoughnow
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If he takes a lump sum, this will form part of the cash pot. The residual pension can still be shared.
There is action you can take to prevent him touching any lump sum.

What do you mean by he is putting the brakes on divorce? Has it been started? What stage have you reached? You can settle finances as soon as you have a conditional order in place. You'll need a court order for a pension share if that's appropriate.

In a long marriage, the start point for division of everything is 50:50. You could trade off equity in the house against pension income. Or trade off the lump sum against equity and share the residual pension.

Hadenoughnow

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