Endowment policy after divorce (not pinned to mortgage)

Stanleymds

floss2 wrote: »

How long have you had the policy? How has it been performing over the last few years?

had it since 2002 and it did ok to start but not so good lately. still about 18 years to go..

floss2

Stanleymds wrote: »

had it since 2002 and it did ok to start but not so good lately. still about 18 years to go..

You need to declare it as you had the policy for 5 years before the marriage.

It will be worth a small amount at the moment. Personally I would get a surrender value from the company, declare it & put it into the pot for discussion. I suppose it's potential could always be offset against pensions?

BARGAINHUNTER!

When I split from my ex we had an endownment policy which was not linked to a mortgage. We were not married so sorted finances out between us. We decided to let the policy run and we both pay half the premiums each month. You could sell the policy (there are people who buy second hand policys) and split it between you or you could keep it running and she helps make payments towards it. You need to sit down and talk about it.

We went down the mediation route as well as it was much better for us! In mediation you will go through your outgoings so the monthly payment you make will come up and be there for all to see so they will find out about the endownment.

NAR

Stanleymds wrote: »

Ah, yes, i see... So i might as well use the money as a "lever" in the mediation negotiations.

Now your thinking positively, don't hide it, use it to your advantage. Good luck.