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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33326
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I am in the process of divorce , my husband will not agree

Customer Question

I am in the process of divorce , my husband will not agree a financial settlement so we have a date for FDR hearing on 6 March .The main sticking points are his pension and lump sum .
On retirement from the police in October he received a cash lump sum of £181,500 and an annual pension of £25,500 per year , as he is only 48 he has commenced a new job in full time employment . He is adamant that the 12 years of his 30 year pension which was pre relationship should be ring fenced .We have been married for16 years and lived together for 19 years we have 2 daughters aged 12 and15 .He is now also saying the cash lump sum should be treated in the same way as his pension and not a capital asset as it was sourced from his pension and so should be treated as such .
How likely do you think it is that if I go to court that they would share his views ??

I wish to retain the FMH and have proposed on advise of my solicitor that lump sum is split 50/50 and I retain his equity in marital home as an offset and take a reduced pension share as outlined by a pension specialist . This would leave him with £90,500 cash also and despite pension share also a very good police pension
or I have offered £120,000 lump sum , retain FMH and No pension share which would leave him £68,500 + £11,000 cash savings and a full pension of £25,500 gross per annum plus income from his new job .
He has verbally offered me £90,500 and to transfer house to me , but no pension share , my own solicitor strongly advises me against accepting this . I now have debts of £20,000 as legal fees so far are £10,000 and an outstanding mortgage of £ 140,000 .
Do you think a court are likely to share his views ?
Submitted: 2 years ago.
Category: 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 much is the property worth?
Clare
Customer: replied 2 years ago.
£275,000
Expert:  Clare replied 2 years ago.
Hi
For clarity - what Pension Share were you looking for?
Clare
Customer: replied 2 years ago.
A pension specialist report stated that if all of our pensions were put in the pot and his equity in the house was offset against a pension share to me then a pension share of 16.6 % would then need to be transfered from his pension to mine .( approx £96,000)
This excludes a share in lump sum of £181,500 as this was viewed as cash asset .
( his CETV was in region £567,000 exc lump sum )
My CETV £78,000 )
Expert:  Clare replied 2 years ago.
Hi
I am afraid I think that there is room for negotiation as it is indeed possible that the court will decide that you have no claim on 12 years worth of the pension and your calculations should be done with that in mind to see what options that gives
However I have no doubt that the Lump sum will be seen as a capital asset available in its entirety
Now it is entirely possible that your solicitor knows exactly what your local Judge will say about the pension - but push her on it and ask her for case law incase there is an argument
I hope that this is of assistance - please ask if you need further details
Clare

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