Going Solo after 28 years

[user1465365718]

Separation is a possibility at the moment.

We have one son aged 22 at home.

Been together now since 1988. We never married although we bought an engagement ring. We didn't sign any 'prenup' agreement, only a verbal agreement if I remember rightly.

We bought the house in joint names and we have no the mortgage. From day one we combined our salaries to pay for everything from food, fuel, holidays, cars etc.

I'm now in early retirement and taking the works pension of just over £1500 a month paid into our joint account. I also took 25% tax free which is in the same joint current account.

He works part time picking up circa £100 a week with a small company pension.

We own the property outright and have savings over £300k which includes my tax free lump sum. The rest is in ISA's in joint and single names and two accounts with Schroder with single name on.

So if we separate what would he be entitled to?

Can he claim from the pension being my main concern?

thanks in advance

[user1465365718]

Jointly owned house. Both names on property deeds.

No debts.

No wills.

Should be possible to buy him out I guess. But think I'd like to start afresh in another property.

[user1464519881]

As you're not married all jointly owned assets would be split 50/50 unless you'd agreed a different split. Money in joint accounts 50/50. Money in your own names remains yours in most cases. Debts ditto - those in your own names are yours. I wonder if the £300k savings could be used to buy out the husband's 50% share of the home so you and your son can stay put?
He will have no claim on the pension income you are drawing and nor you on any earned income of his as you are not married. If you made a will in favour of each otehr you want to vary it ASAP to make it in favour of your son instead. Also "sever the joint tenancy" as otherwise if you die your half of the house go to your husband if it hasn't been moved into just your name or sold. It is not a complex thing to do and is worth doing urgently.

[millymollymoomoo]

50% of house value as you own it jointly (presumably as joint tenants rather than tenants in common)

As you are not married there would be no claims to either pensions etc. He would have claim to half of the joint savings and would keep whatever is in single named accounts as his.

Unlikely to be able to claim anything else