Divorce - Financial Settlement

wilfred30

PompeyPete said:

THE FUTURE.

My partner and I both want to move on, ie get a Divorce.

PROPOSED DIVORCE SETTLEMENT.

I would like the Divorce, and divorce settlement to take effect in July 2023, when she starts receiving her State Pension

What about your wife?  Does she actually want to get divorced or is she happy to carry on as she is for the next 3 years until you don't need her agreement to divorce?  Hell hath no fury and all that .........

If she does indeed agree to the divorce, how on earth are you going to manage to time it just right so that it coincides with when she gets her pension?

PompeyPete

Thank you everyone for your comments and advice, apologies for the late acknowledgement and for disappearing off the screen.

I've had a chance to reconsider matters and changed what I propose as a Divorce settlement.   Basically.....

The House.  It should sell for about £300k.  All I will expect from that is c£50k.  My wife can have the rest, but she will also have to pay legal and estate agents fees.  That should be more than sufficient for her to buy a smaller property, with some money left over.  That will give her approximately 80% [less legal expenses, so say 70%] and me 20%.

Pension.  Pensions [Armed Forces, CivilService, and my State Pension] will continue to be split 50% each.  When she becomes eligible for her State Pension in 2023 she will keep hers and I will keep mine.  

Savings.  They were split between us 50% each when I left her.

Debts.  None.

Children.  Flew the nest long ago.

Other Assets. None of any size.

Does that sound a bit fairer than my last effort please?  Grateful for any comments.

Jim80

Did you get a CETV?

Looks like you are giving with one hand and taking with the other... Can't tell without a better evaluation of your pension.

If it helps, you can draft up a separation agreement before the divorce to get you into good shape, .. if your wife agrees...

sassyblue

Your settlement is far too much in your wife's favour, maybe you will have a much better pension but without the CETV it’s difficult to know.

if your pensions are similar you’d have a difficult time getting a judge to approve a consent order, you’ve already split the savings 50/50 so why deviate from that?

katkatmachine

I have nothing useful to contribute but damn! 43 years of marriage and still divorcing! I am truly shocked! I guess it’s true what they say…there’s no such thing as forever…

Jim80

katkatmachine said:

I have nothing useful to contribute but damn! 43 years of marriage and still divorcing! I am truly shocked! I guess it’s true what they say…there’s no such thing as forever…

Out of a group of 9 families aged around 40-45 , 5 of them had affairs (only 1 still married), and rumours 2 likely did but are still together. From my experience its certainly a dwindling pool who make it all the way, usually another person is involved. Granted its a small pool but is replicated not far off my wider family age 60-65 where 4/5 of the Aunts/Uncles marriage failed (no idea the reasons).

sassyblue

katkatmachine said:

I have nothing useful to contribute but damn! 43 years of marriage and still divorcing! I am truly shocked! I guess it’s true what they say…there’s no such thing as forever…

My parents divorced after nearly 50 years of marriage, they were very young when they married

seven-day-weekend

I too feel it is a shame to be divorcing after 43 years, but we don't know the circumstances.