Divorce, Mortgage and Pension advice please

Marcon

Albermarle said:

OP Just for general info, the normal/best way to split financially during a divorce is as follows:

Each side makes a list of assets ( things they own) , such as pensions, savings accounts, cars etc including the part of things they may own jointly ( like a house usually) .
This is all then added up and an approximate 50:50 split is made. Usually not everything is literally split in half, but there is an exchange ( such as one keeps their pension and the other one gets the savings) .
This can be done without solicitors, ( but often they get involved) but must all be in writing and agreed/signed by both sides. This is the so called clean break.

...and sanctioned by the court if it is to be legally binding. Although the starting point may be 50:50 it often ends up with different proportions (especially in Scotland where the law relating to pension sharing is different).

Marcon

molerat said:

Marcon said:

Niamhwet said:

Oh dear,we didnt do a settlement as He said it was not needed and as Im not good with these things I didnt think. Im not even sure we changed the tax code. Now Im really worried!

Presumably this was a DIY divorce? 

The tax code is totally irrelevant. The lack of a clean break is very relevant indeed.  See https://www.gov.uk/money-property-when-relationship-ends/get-court-to-decide

It is relevant to some extent, marriage allowance if applicable must be cancelled.

Thank you - you're right, of course.

Silvertabby

Albermarle said:

OP Just for general info, the normal/best way to split financially during a divorce is as follows:

Each side makes a list of assets ( things they own) , such as pensions, savings accounts, cars etc including the part of things they may own jointly ( like a house usually) .
This is all then added up and an approximate 50:50 split is made. Usually not everything is literally split in half, but there is an exchange ( such as one keeps their pension and the other one gets the savings) .
This can be done without solicitors, ( but often they get involved) but must all be in writing and agreed/signed by both sides. This is the so called clean break.
Now I know you did not do this, but probably worth knowing how it should be done as a background to any current discussions. It maybe your ex will claim they did not get 50% and now they want to. 
However as already said, maybe he will owe you, if he took his financial assets away from the marriage without discussion.

The LGPS (and presumably all other public sector pensions) can only apply a PSO on production of a Court Order.