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ukfamilysolicitor
ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 1261
Experience:  Divorce, Finances, Children, Domestic Violence, Care Proceedings
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We want to separate. My husband of 7 years brought in a

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Hi,
We want to separate. My husband of 7 years brought in a house (mortgage free), I have an NHS pension. We both have two adult children each. no previous spouses. None of us have savings. We both need a home to live and are too old to get a mortgage. He is a self employed artist with little income but same turnover per year as me. I am a part time self-employed GP. How much of the sell of the house (about £400.000) is mine and how much of my pension is his?

Hello

Welcome to Just Answer

I am a Solicitor and will assist you.

Please may I ask:

- how long were you together before you got married?

- any prenups?

- what is the value of your pension?

- what is the yearly income for both of you?

- any other assets?

kind regards

Caroline

Ps I just need to nip out but will answer upon my return

Customer: replied 1 month ago.
Hi Caroline,
We were together since January 2010, so a year and a bit before we got married. we have no other assets. we both have a turnover of about 35-45K. pa. my husband has high expenses so income is below tax threshold. my income is about 30K pa. value of my pension I dont know exactly. two years ago I was told, that if I stopped adding my monthly draw would be no more than £500/month. I have worked part time mostly starting in 1998.

Hello

Thank you for your response.

You do need to find out the value of your pension as this will make a difference as to how you go about dividing assets.

You marriage is a medium lenght marriage and the court will want to try and reach equality between you and the courts main purpose is going to be to meet both your housing needs for the furture.

As there is £400k equity this should be sufficent for the property to be sold and you both downsize to smaller properties.

As the house was paid for by your husband and given your marriage was a medium one the court will favour that. If tis possible to buy a 1 bedroomed property for say £100k then the court will likley order this for you but its going to depend on the property prices in your area and what is available so you will need to have a look.

When you have your pension pot figure this must be disclosed. If the pot is a small one then it might be that you offset this by having less of the house monies to retain your pension. It is going to depend on what the figures are.

There is no set rules, which you may have appreciated from this answer but the court will want to meet both your needs moving forward so it will depend on factors such as the prices of available housing to rehome you both.

There are stages to dealing with the matrimonial finances: first is full diclsure then dicussions can take about division and meeting needs.

You should consider referring to mediation. This is actually a prerequisite befor you can apply to court in relation to the matrimonial finances upon divorce.

Mediation is independant and will try and help you reach agreement without the need for court. Google family mediation in your area and give them a call to self refer.

If agreement can be reached at mediation then this should be drawn up into a consent order and submitted to the court for approval when applying for decree absolute. If approved this will become legally binding.

If agreement cannot be reached then the mediator will sign the form that you need to apply to court.

Let me know if I can assist you further

kind regards

Caroline

Please kindly remember to rate positively by using the stars so that credit is received for helping you today

Hello

I note that this question remains unrated. Your feedback is important to me.

I would be grateful if you could kindly rate my answer by using the stars.

If I can assist you any further then please do not hesitate to ask.

kindest regards

Caroline

ukfamilysolicitor and other Family Law Specialists are ready to help you
Customer: replied 1 month ago.
This is notnrealky answering my question. 'The court will favour that' is not clear to me what 'that' is referring to. I understand there are no set rules but this is surely not an unusual situation. I would expect there is some guidance on how pensions are distributed amongst spouses when they separate independent what the exact figure.

Hello

Thank you for your response.

Im sorry if I wasnt clear. I really cant give you exact figures but given the lenght of your marriage I would say that your husband would get around 30% of your pension.

kindest regards

Caroline