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What am I entitled to after 37 years of marriage if husband leaves me

77 replies

Mollyb70 · 29/10/2020 20:06

My husband has told me he doesn’t love me anymore and has left. He has seen a solicitor and says we need to go to mediation to sort out finances if we can’t agree them. I don’t know what I’m entitled to and can’t afford solicitor fees. We have been married 27 years, I’ve had a series of part time and later full time jobs whilst bringing up children and being main homemaker doing cooking, cleaning etc. our children now 24 and 27, all whilst he qualified as a solicitor whilst working full time. I earn £32k full time and his package is around £120k plus 6-9% annual bonus on a self employed basis (he is a partner in a law firm with an equity loan of around £60k) we have a house worth around £375k with an estimated £175k equity. £6k in savings and two cars worth around £20k. I get £2k per month after tax and have a work pension estimated at £12k from age 67 and if I stay in current job an additional £6k per year! He has a drawdown pension pot of £275000 ish and pays in £1200 pm, if he continues this he should get around £50k per year depending on markets. His monthly salary drawdown payment is normally around £6500 but has was reduced 25% to £5550 May to November due to Covid but back to £6500 next month. His accountant reserves tax etc. We have no debts just.the mortgage. We each normally have ‘pocket money’ of £3-400 pm which is paid to our own private accounts (we’ve been doing this for 20 years), he spends his in full every month and I tend to save mine so currently have around £1200.

Any idea what I should be looking for in settlement. I have a long term medical condition which affects my health and ability to work from time to time.

OP posts:
GreenClock · 05/11/2020 18:50

It’s great that you’ve seen a solicitor OP. I really hope that your ex stays reasonable (mine did) but the solicitor will be a godsend should he fail to do so.

Cocomarine · 05/11/2020 19:13

@BubblyBarbara

Your estimated retirement income (based on what you've told us so far) is £6,267.99 per year

If that's really what someone with an eventual £400k pot would get out I'm surprised anyone would even bother saving for a pension. You'll barely be able to afford groceries with that in fifteen years.

@BubblyBarbara it’s quite common in pension projection to give the annual figure in today’s money - but what you actually receive is in the inflated equivalent.
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