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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I am separating from my husband who is currently in the navy.

Resolved Question:

I am separating from my husband who is currently in the navy. He has 27years service and will be leaving next year. We have been together for 15Years. His cash equivalent pension figure is £250000.00 . I believe that my entitlement of this fund would be £69000.00. He has offered me a one lump cash settlement figure of £38000.00 . Please can you advise if this is a fair amount? Please note this is a one payment offer only which is his lump sum payment.

Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How old are you and are there any children involved?
What pension provision do you have?
What other assets are there?
Clare
Customer: replied 2 years ago.

I am 45. 1 child age 12. I have no pension provision as we focused on husbands . We have a house which currently has 30k equity. He is offering me a settlement of 22,500 K for house so in total there is a lump sum payment of 60k

Expert:  Clare replied 2 years ago.
Hi
Who does the child live with?
Clare
Customer: replied 2 years ago.

Hi he will be with me and then stay with his dad once or twice a week.

Expert:  Clare replied 2 years ago.
Hi
Where will you live if the property is sold
Clare
Customer: replied 2 years ago.

He is planning to remain in the. Property. There is 38k equity in the house and has offered 22k and then 38k as a pension settlement which is a total of 60k settlement figure. I will then use this as a deposit for another house. I just need to check that this figure is a true reflection of what I am entitled to.

Expert:  Clare replied 2 years ago.
Hi
Do you wish to move out at this time?
Clare
Customer: replied 2 years ago.

Hi clare. I'm happy to do this as long I can make sure that I the right . financial settlement for me and my child

Expert:  Clare replied 2 years ago.
HiWhat income do you each have?Clare
Customer: replied 2 years ago.

I earn 26k and he currently earns 42k

Expert:  Clare replied 2 years ago.
HI
The starting point for division of the equity is 50/50 - although if you insisted on staying in the property then your ex would not be able to force a sale until your son is 18
He has offered you essentially a 60/40 split (and I assume a release from the mortgage) - on the lower side of your entitlement - but not below it.
You have correctly calculated your Pension Share - and clearly understand that a Pension fund is not the same as Cash.
He has discounted the sum by roughly 45% - which is generous as I generally suggest a 70% discount - so that is on the more generous side of your entitlement
I hope that this is of assistance - please ask if you need further details
Clare
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