Pension scheme-death benefit nomination

[SpiritualKnot]

Can anyone help? Divorcing H for adultry. Hopefully, keeping our own pensions, but he keeps moving goalposts, so work have suggested I prepare things in case.

I have an NHS pension, work say lump sum paid out on my death would go to H if not divorced so suggest I act soon to make sure this doen't happen.

Have sent me a form to nominate someone else. We have 2 kids aged 11 yrs and 18 yrs. The one aged 18 years is about to start uni in October. Can I nominate him or is he still classed as a child as he's in full time education? Or can I nominate 50% to each child and my daughter get hers when she 18 or something? Or should I be nominating a godparent or trusted relative?

I haven't really got a clue. Just want to ensure H doesn't get it otherwise my kids will see very little of it.

You should be nominating your children. If you die before either of them is 18 the money will be held in trust and administered by the scheme trustees.

I'd also recommend that you sever the joint tenancy and make a will.

Thanks for that. Will nominate them.

Do you mean joint tenancy on our house? Am planning to put the house in my name and increase the mortgage to pay him off with £20K. He has signed to take his name of the mortgage. Should I put that into effect before I increase the mortgage anyway? Maybe it's already in effect as he's signed?

The divorce is in early stages, he's just received the petition. I have been wondering about this mortgage thing and wasn't sure whether to actually wait until the decree nisi or decree absolute came through.

The building society say I can have the 20K. The offer is held for 6 months, divorce seems to take ages though. Highly likely I'll though, but prob at not same interest rate.

Plan to make a will at some point, but again, not wure at what stage of the divorce I should be doing it?

"Highly likely I'll though" meant to say "highly likely I'll still get it though"...sorry about that.

OK, timewise, this is roughly how it should pan out:

1. Sever joint tenancy (not absolutely essential but I do it sometimes depending on circs Nominate children as bens under pension death in service.
2. Get mtge offer
3. Get decree nisi
4. File consent order once agreed
5. Transfer house either free of mtge or subject to mtge with you indemnifying him
6. Apply Decree absolute.

The transfer of the house and changing the mortgage over will happen simultaneously with the payment of the lump sum.

Sorry for touting for business, but I run a will writing service on the side (am also family lawyer). If you want a will doing, please feel free to email me at [email protected]. I usually charge £100 (my high street practice rate is £175 plus VAT so it's quite a lot cheaper).

I'd nominate both your children and should anything happen the Trustees for the pension scheme will then decide what should happen. i.e. it gets held in trust or to an executor etc.

Agree, get the house in your name pronto, you can sort out all the financials before the divorce is finalised.

Thanks mumblechum, I have added your email address to my address book.

Would you know whether the mortgage has automatically changed over to my name already as he has signed the form, which I've sent to them or will I need to phone them to do it?

When I spoke with them I said that I wanted to put the mortgage in my name and increase it. Maybe I should ring and check tomorrow?

It's a bit more co ordinated than that, SK. Your divorce solicitors will liaise with your conveyancing solicitor (if different), and agree a date for completion of the new mortgage, transfer of property and payment of the lump sum. That date will then be put in the consent order so that the agreement is enforceable.

Everything has to be dovetailed together.

SK, your divorce solicitor should really be dealing with all this stuff on your behalf. That's what they're being paid for, to take the stress and aggravation off your shoulders.

Ah yes, the solicitor contacted me last week to say that they had heard from the mortgage people....thought that was just about the mortage increase, hadn't realised the name transfer would be included.

Thanks for your help, will be in touch.

No probs