Finances & divorce, is exh trying to stitch me up?

[catkin14]

This following is a disguised version of what my exh is trying to get me to agree with regards to his very large pension.
The outcome of his suggestion would leave him with a far greater share of assets than me.
I am seeing my solicitor at the end of the week but cant quite get my head round what exh is suggesting and I am feeling a bit worried!
We have just sold our family home as well.

Please can anyone help? This is what he has said -

''
I understand there are 2 ways of dividing my pension.

1. Pension Sharing Order. This means you would be entitled to 50% of £ to be added to your pension fund from mine. This would be available to you on your retirement as it would form part of your pension and therefore fall under the rules of that.
2. 25% of £ (£) is the legal entitlement that would be paid to you in cash instead of the pension sharing order. This would leave my pension intact IF I could find a way to pay you that amount in cash. The only way I could do this would be to increase your share of the proceeds from the property sale ''

As I say, his suggestion 2 would give me far less than 50% of our assets, we had a very long marriage and I have one DS giving at home with me.

Good idea to see a solicitor to find out where you stand and what options there are in your particular circumstances.

First of all depending on the type of pension the cash equivalent value of pensions may not be the true value and it may be necessary to obtain an actuarial valuation.

Secondly, although your husband is correct in that a pension is treated differently from other assets it isn't as straight forward as he implies. Because a pension can't be liquidated it may be considered less valuable than assets which can be realised so there may be some discounting in the value of a pension when it is offset against equity. However the figure of discounting 25% originated from the Maskell case where the judge was in fact referring to the lump sum and 25% isn't appropriate in every case, particularly if there aren't that many years before you both retire.

PS To avoid any doubt I am not a solicitor!

Thanks, yes def need a solicitor in this!

So is he trying to get away with me having less than half our assets?

Its making me feel very angry, that he thinks that me being a sahm was worth less than his job!
And to add insult to injury he has a new partner (we have been separated for 5 months), there will be no way she will benefit from the years exh and I were together! Sorry for rant but feel very GRRR!

We (via court order) have just had a pension sharing report done. Not expensive at approx. £1000. We are a medium to long marriage with 1 DC. Pensions built up during marriage on both sides. Court order asked pensions expert to look at different scenarios. Then the negotiations begin!

we also both have pensions but his is much larger than mine and makes up 50% of our assets! This is why I am concerned.
Thanks for replies tho..

I think your husband was just setting out the options as he understands them. The pension can be shared or offset against equity and discounted. There is nothing wrong with offsetting per se if someone needs a larger share of the realisable assets to keep a roof over their head.

Thanks, yes i understand that. My problem is I suppose that he wants all his pension and a very large chunk of the property we have sold, leaving me with approx 1/3rd of all assets. He is a very high earner whereas I can never likely be. I am more than ok not to touch his pension but will therefore need more out of the sold property.
Is this unreasonable?

Bear in mind he cannot access the pension money until he retires whereas you have the capital in your hand to do with as you please now. How old is your child?

He is 15 soon. Yes I realise that too about the pension money, but he plans to retire in 3 years thanks to his large salary and that of his new partner.
Probably best that I speak to my solicitor, I dont think I am putting it as it is here.
But thanks for all help.

Definitely speak to your solicitor - he will need to be paying you 15% of his salary now as CSA payment for your son.