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Division of assets and pension

(4 Posts)
horizon2horizon Fri 15-Nov-19 22:40:56

I have a private pension around 35k. Since separation, my legal bills have reached 5k on a 0% interest credit card. I could use 5k of the pension to pay off the legal bills. In terms of sharing assets, is it better to have 35k and 5k debt or 30k pension with no debt?

OP’s posts: |
HollyIvy89 Sat 16-Nov-19 08:38:35

I’d say it depends on whether you want to have a clean slate? What’s the chances of you making up that £5k in pension in future. You will still need to pay the £5k bill so probably best to pay now.

What I am wondering thou is your pension pot will be in the financial agreement and need to be split as it’s value at a set date in time won’t it (date of separation) so surely the £35k stands and the £5k bill is separate and yours to pay outside of this?

horizon2horizon Sat 16-Nov-19 09:15:31

Thanks HollyIvy189.
I understand your point about the pension being agreed in the financial declaration. But that was almost a year ago. Things have moved on.
We have another court hearing. I’m not sure if I have to disclose more up to date information. This private pension pot would certainly have changed in that time, as would my workplace pension.

OP’s posts: |
HollyIvy89 Sat 16-Nov-19 11:41:25

I think it will be a difficult one. Maybe you right if you haven’t agreed a financial settlement date then u are ok and therefore go spend that pot but I think you need to probs as legal advice just in case!

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