Separation - Bespoke Financial Issues

Stoke

As much as someone has suggested remaining amicable above, and I would always recommend going the amicable route if possible, I already think this needs a solicitor and one who is very wise to this particular situation.

You're already asking him to give up what would appear to be quite a lot and therefore I just don't see him agreeing out of the box. You can obviously put your request/demand to him, but I fully expect him to refuse. A solicitor can look at a realistic split and hopefully maintain some semblance of sanity.

I personally don't think you should go for the disability benefit. Is she looking at going back to work? I doubt 50% of that income will actually be a great figure.... and with having to sell the house most probably....

Fire_Fox

PompeyPete wrote: »

The questions are…..on Separation what should be the Financial share [%] of the total incomes?!

I’ll have separate questions regarding the house, and would be grateful if any answers could be focused solely on what I’ve asked above.

Separating property from pensions makes no sense, the settlement should consider all assets, income streams and each party's future prospects/ future needs.

If the wife has no realistic prospect of a decent income or pension she may be entitled to more that 50% overall. Conversely if the husband's disability means he is expected to need an increasing level of care he may be entitled to more than 50% overall.

PompeyPete wrote: »

If this is all done amicably between the two parties, is there a need for solicitors from the outset?

Thanks in advance.

Yes: solicitors that specialise in divorce are a much better source of legal information than MSE consensus.

Both parties can have an initial appointment with their chosen solicitor, then attend a couple of sessions of guided mediation to agree the settlement amicably, then take that back to their respective solicitors.

Apparently a judge can refuse to 'rubber stamp' a settlement that disadvantages one party.

jamiehelsinki

Were all of the pensions accrued during the marriage, I was under the understanding that pensions built up before marriage were not treated the same as those that were during divorce.

Silvertabby

jamiehelsinki wrote: »

Were all of the pensions accrued during the marriage, I was under the understanding that pensions built up before marriage were not treated the same as those that were during divorce.

That's the case in Scotland, but not in England or Wales. (No, I don't know why).

Pollycat

Silvertabby wrote: »

That's the case in Scotland, but not in England or Wales. (No, I don't know why).

It's a while ago but IIRC when my friend got divorced - in England - only the pensions built up during their relationship (not marriage, they lived together for a long time before getting married) were taken into account.

PompeyPete

Pollycat wrote: »

It's a while ago but IIRC when my friend got divorced - in England - only the pensions built up during their relationship (not marriage, they lived together for a long time before getting married) were taken into account.

In the case of the OP everything was built up from the start of their relationship....43 years ago.

So that's why I asked for bespoke advice Polly.

PompeyPete

jamiehelsinki wrote: »

Were all of the pensions accrued during the marriage, I was under the understanding that pensions built up before marriage were not treated the same as those that were during divorce.

Yes.....but from the beginning of their relationship.

Pollycat

PompeyPete wrote: »

In the case of the OP everything was built up from the start of their relationship....43 years ago.

So that's why I asked for bespoke advice Polly.

OK, thanks for the clarification.

Takmon

PompeyPete wrote: »

Grateful if you could help with a few financial issues regarding Separation.

Both in their 60s

House owner, Joint names, fully paid up
No Mortgage
No debts
No dependent children

She has no income of her own, and isn’t eligible for her State Pension for another 4 years.

He has an Armed Forces Pension, Civil Service Pension, State Pension, and a Ministry of Defence War Disablement Pension.

All the income is taxable except the War Disablement Pension.

The questions are…..on Separation what should be the Financial share [%] of the total incomes? Should the War Disablement Pension be included in the share, as it’s meant to compensate him for his Disability.

I’ll have separate questions regarding the house, and would be grateful if any answers could be focused solely on what I’ve asked above.

Many thanks.

From an ethical point of view it would be unfair for her to get any of his pension income especially considering she has no income of her own so she has been sponging off him for how many years?.

She will already get half the value of the house so she can go get a job if she wants more money!.
But that's just my point of view and i think marriage is a bad idea anyway due to situations like this.

PompeyPete

Takmon wrote: »

From an ethical point of view it would be unfair for her to get any of his pension income especially considering she has no income of her own so she has been sponging off him for how many years?.

She will already get half the value of the house so she can go get a job if she wants more money!.
But that's just my point of view and i think marriage is a bad idea anyway due to situations like this.

Lol. Thank goodness some of us have a heart.....though I do agree with most of your final sentence.:)