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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Original poster

Financial Settlement

39 replies

EGL111 · 03/03/2021 15:22

Hello, can anyone help me!
Part way through a divorce and my solicitor is a bit useless.
We were married for 17 years - Nisi through but still trying to sort out financial settlement.
We have two children (12 & 15), I have moved out of the marital home into rental accommodation and we have a 50/50 childcare split at his insistence.

My ex is not paying any form of maintenance due to this.
He earns 100k p/annum, I earn 21k per annum (both work full time, I worked part time until a few years ago in order to bring the children up as he has a global role) We have 340k in assets (equity in the marital home which is valued at £400,000 and an investment property we rent out valued at £100,000).
The Rics valuation on the marital home is now 5 months old therefore out of date, property prices have jumped up in our area in excess of 5% recently.
He is proposing to buy me out of both properties and give me £215,000 with no form of ongoing spousal maintenance. I have asked for £250,000 with no spousal maintenance - we are at a stale mate, I do not want to enter mediation with him for reasons I won't go into so it looks as though court is our next step?

The main questions are - is court advisable?? and would it help me to get an up to date Rics valuation on the marital home?

Many thanks!

OP posts:
Soontobe60 · 17/04/2021 17:42

@EGL111

He has one at £50,000, another at £95,000 the his current one is final salary pension so I obviously don’t know what this will be yet, he has offered me the £95,000 pension - I am fine with this, my main concern now is getting a house for my children which is at least a bit comparable to the one I’ve left him living in. I also have no car as that was all in his name
You absolutely need to know the value of the final salary pension. This could be the one worth the most. It is very easy to get the information of what this pension is worth. If, for example, it would currently pay out £20K a year at his normal retirement age (I’m assuming its 60) and he pays nothing more into it, thats worth £10K a year to you for the rest of your life.
SwimBaby · 18/04/2021 10:10

I agree with the PP, my DH just cashed in a 13k a year final salary (payable at 60) pension for 635k.

Soopermum1 · 18/04/2021 20:30

@SwimBaby how long did your ex pay into that final salary pension?

RandomMess · 18/04/2021 20:40

Absolutely get his pension valued, absolutely ask for more and say the DC aren't happy with 50:50 and they need a comparable home.

Hopefully you can soon apply for CMS once they move longer 50% of nights with him. Do you get child benefit for both of them? If so you may still get a small CMS award as his earnings are so high.

notapizzaeater · 18/04/2021 20:47

Sometimes if they are a high earner even with 50/50 they still have to pay some CMS, run it through the calculator. My mum had an actuary value my dads pensions, she ended up with a 76% split.

SwimBaby · 18/04/2021 21:07

Soopermum1 I know this will sound crazy but only for 6 years. When he left the company about 18 years ago he was on 60k per annum. It was a really good scheme that the company stopped around the time he left. He’s being getting a valuation every 18 months and this years one was just too good to turn down.

SwimBaby · 18/04/2021 21:08

He isn’t my ex, we are married.

Soopermum1 · 18/04/2021 21:21

@SwimBaby great news you're still married 😊

SwimBaby · 18/04/2021 21:24

Yes he’s a very lucky guy!

HosannainExcelSheets · 19/04/2021 12:35

I know it's been touched on, but you still get quite a lot of CMS child maintenance even atb/ 50/50 split of nights. The NRP has to prove fully shared care to avoid having to pay child maintenance. 50/50 nights is very different from fully shared care, which means each parent does half the mental load, grunt work etc as well as having the DC for equal amounts of time.

AutumnColours9 · 19/04/2021 12:40

Get a pension report. We had to pay 3000 but it was worth it and came down heavily in my favour. Also his pensions were very undervalued at face value. You need a cetv as well as a starting point. It is likely you should get 58 percent or so of the pensions due to income discrepancy and women live longer. You could well get more of the equity also. I've just been through similar.

PPA90 · 15/10/2021 02:36

Hi all,

Going through a divorce. 13 years married. Got a mortgage free home. Stbxw has been offered 60% of the value of the house. However she wants the form e done aswell. No pension No saving. Business owner under limited company. Business is mostly intellectual. I’m the value of the company however have employees as-well to do some work on a part time basis.
I’m offering 60% value of the house. Is that a good offer? Two valuations from 2 estate agents I chose valued at £290k and £295k…. Her valuations are £340k and £350k as she’s told them what she wants. I’m being realistic with her in the price of the house as 2 doors away property sold for £255 in need of modernisation. Ours is done to a good standard… please can people share some ideas or opinions on what to do ..

RedHelenB · 17/10/2021 08:33

@SwimBaby

I agree with the PP, my DH just cashed in a 13k a year final salary (payable at 60) pension for 635k.
How come? If he lived to 100 ( highly unlikely)'he would only cost the pension scheme 520k?
Marmight · 18/10/2021 20:08

@RedHelenB

FS pensions will be index linked and also include a spouse's pension.

If it increases by 3%, it will be paying out £17.4k a year after just 10 years

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