How to manage imbalance in husband/wife pension?

Red-Squirrel_2

The house is a marital asset anyway, so in reality you don't 'own' a percentage on your own.

Flugelhorn

Red-Squirrel wrote: »

The house is a marital asset anyway, so in reality you don't 'own' a percentage on your own.

Maybe they are tenants in common to those percentages?

Red-Squirrel_2

Flugelhorn wrote: »

Maybe they are tenants in common to those percentages?

Its still a marital asset if they were to divorce though. Tenants in common will only come in to play when the first one dies.

Tabbytabitha

Red-Squirrel wrote: »

You've been married for 15 years and he doesn't want to support you?

Remember those things in the wedding ceremony about 'in sickness and in health, for richer for poorer' etc? Well, you know, this is the time to show if he really meant that or not.

I'd agree normally but when the other person still calculates who owns the house down to a minute percentage then I think it's rather different.
Perhaps they just deserve each other?

Tabbytabitha

Debra0001 wrote: »

I own 82% of our house (2nd marriage) and about to early retire through ill health. My husband has always been bad with money an runs up debts through lavish spending. Although better now I keep an eye on his credit.

The question is I'm going to have a very tiny pension and he will have a very generous one and massive lump sum - so rather than paying everything 50/50 as we've done for 15 years h what ideas are there that could be fair to us both? He isn't interested in buying in to house so I can release funds. He has an expectation of a great retirement rather than helping support me.

I don't want to sell house and downsize as costly to move but could rent a room and keep that but still will be very poor.

All suggestions welcome?

Your husband can't be that bad with money if he has a generous pension and you only have a tiny one.;)

happyandcontented

Tabbytabitha wrote: »

Your husband can't be that bad with money if he has a generous pension and you only have a tiny one.;)

I wouldn't say that necessarily follows, my OH is a top earner but one who has little or no interest in money or pensions, he simply followed company advice to accrue his large pension pot. He isn't bad with money per se, just disinterested.

Pa_Ja

Because you are married you'll be entitled to little income support. Your husband would be expected to support you.
If he doesn't then tell him you're having to downsize. Simples.

Tom99

Flugelhorn wrote: »

charge him rent for the 32% of the house?

sorry that probably sounds a bit flippant - appreciate people trying to protect their own finances but I always felt marriage meant all the money going into one pot. DH kept the family going when the kids were young and I have in more recent years, there have been lumps sums here and there but they are just added to the pot.

Agree with that, not flippant at all. If he does not want to buy the 32% he can't expect to occupy if for free.

lulu650

OP, it must have been difficult realising you're not well enough to continue working and have to retire. How do you envisage retirement and how much help will you need from your husband in the future? If he doesn't help you, who will? It's worrying that he thinks he will have a great retirement and won't support you. It wasn't clear if you meant solely financially or physically too.

PeacefulWaters wrote: »

....better utilise the £11,850 tax free income threshold each year........

Thanks to PW for reminding us that our Personal Allowance is going up from April.

arielsmelody

I don't quite understand your question. Are you staying married and living together or divorcing and living separately?


If you are divorcing, you need to consult a lawyer because the pension should be taken into account when you split up - even though it is in his name, at least a proportion of it has been built up while you are married, so you are entitled to a share. There will be different options on how you could do that in practice, but a lawyer will be able to advise you.


If you are not divorcing, I don't see why you are entitled to any less of a share than if you were - why not pool your incomes and then split it 50/50?