Divorce and property division after 20 years of marriage.

lisyloo

Savvy_Sue said:

The OP could do worse than look at wikivorce, before looking for a good divorce solicitor. The pension is probably going to need a pension sharing order, which is going to require a valuation, which is going to take time ... 

Doesn't that only apply for DB pensions?
As they mentioned a number then I'd presume DC.
As those go up and down how do they get valued? 
I mean I can look at mine right now and get a value but it might be a ggod or a bad day. Is there precedent for valuing them?

lisyloo

VyEu said:

This looks like a clear 50/50 split. It's a long marriage. The court won't look at the ins and outs and do an accounting exercise. It doesn't work like that. They'll look at 50/50 and can deviate from that depending on earning capacity, age, income etc. but really nothing you've said screams reason to depart from equality. 

I presume if one wants to leave with less (and has enough to provide for themselves) then that is permissable?
asking for a friend

Savvy_Sue

lisyloo said:

VyEu said:

This looks like a clear 50/50 split. It's a long marriage. The court won't look at the ins and outs and do an accounting exercise. It doesn't work like that. They'll look at 50/50 and can deviate from that depending on earning capacity, age, income etc. but really nothing you've said screams reason to depart from equality. 

I presume if one wants to leave with less (and has enough to provide for themselves) then that is permissable?
asking for a friend

Yes, you can agree an uneven / unfair split. However, when it's ratified by the court, the court would need to be satisfied that both sides understood the implications, and that there wasn't undue pressure on the less well looked after party. 

Savvy_Sue

lisyloo said:

Savvy_Sue said:

The OP could do worse than look at wikivorce, before looking for a good divorce solicitor. The pension is probably going to need a pension sharing order, which is going to require a valuation, which is going to take time ... 

Doesn't that only apply for DB pensions?
As they mentioned a number then I'd presume DC.
As those go up and down how do they get valued? 
I mean I can look at mine right now and get a value but it might be a ggod or a bad day. Is there precedent for valuing them?

I may be talking through my posterior. Whatever kind it is, the pension has a value ...

VyEu

lisyloo said:

VyEu said:

This looks like a clear 50/50 split. It's a long marriage. The court won't look at the ins and outs and do an accounting exercise. It doesn't work like that. They'll look at 50/50 and can deviate from that depending on earning capacity, age, income etc. but really nothing you've said screams reason to depart from equality. 

I presume if one wants to leave with less (and has enough to provide for themselves) then that is permissable?
asking for a friend

Yes you can, court might ask why, but provided it's in the boundaries of reasonable (like within a 50/50 to 60/40 range. If you want to go 70/30 you need solid reasons (and most people don't realise 'but I paid the mortgage! Isn't a good reason in and of itself). Anything more uneven I highly highly suspect it will be picked up and questioned), it should be fine

VyEu

Savvy_Sue said:

lisyloo said:

Savvy_Sue said:

The OP could do worse than look at wikivorce, before looking for a good divorce solicitor. The pension is probably going to need a pension sharing order, which is going to require a valuation, which is going to take time ... 

Doesn't that only apply for DB pensions?
As they mentioned a number then I'd presume DC.
As those go up and down how do they get valued? 
I mean I can look at mine right now and get a value but it might be a ggod or a bad day. Is there precedent for valuing them?

I may be talking through my posterior. Whatever kind it is, the pension has a value ...

DB pensions have a different 'true value' compared to DC. They're like comparing apples with oranges. 

lisyloo

Savvy_Sue said:

lisyloo said:

Savvy_Sue said:

The OP could do worse than look at wikivorce, before looking for a good divorce solicitor. The pension is probably going to need a pension sharing order, which is going to require a valuation, which is going to take time ... 

Doesn't that only apply for DB pensions?
As they mentioned a number then I'd presume DC.
As those go up and down how do they get valued? 
I mean I can look at mine right now and get a value but it might be a ggod or a bad day. Is there precedent for valuing them?

I may be talking through my posterior. Whatever kind it is, the pension has a value ...

You are right for DB pensions e.g. provide 50% of salary at age x, spouse pension on death. There is no pot of money so those benefits need to be valued and that can take months. 

For DC pensions - let's someone has £350K in a SIPP then that's easy to value, you just look up the value of your SIPP and there it is nominally. The OP mentioned a figure so it sounds like one of these.

So big difference between buying some benefits and having a pot of money.

Inforapennyinforapound

I think 50/50 is probably the way to go with maybe a little more for one than the other. If you can both agree on a fair share then it makes it easier for all involved. It’s less stress than a messy divorce and you can get on with your respective lives. (Experience talking here😊).

Also,you don’t have to involve solicitors if you can be agreeable with each other. My experience of solicitors leaves a lot to be desired. Why give solicitors on both sides £1,000’s of pounds when this could go in your pockets. 

I recall an Aunty of mine who contested a will. A solicitor sorted it and he took most of the money out of the will for himself as his fees. Everyone lost..except the solicitor! Say no more