How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33547
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

I have a teachers pension totalling approx. 100,000k. I am

Resolved Question:

I have a teachers pension totalling approx. 100,000k. I am getting divorced and want a clean break. How much should I pay my husband - he has £20k pension value.
Thanks
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 long have you lived together and how long have you been married?
Are there any children involved?
What other assets and debts are there and what income do you each have?
Clare
Customer: replied 2 years ago.

Hi,


 


The children are adults.


 


We have been married for 23 years. (living together for two previously)


incomes approx: me £50k Him £30k


 


We have sorted out other assets - no debts.


Thanks


Sue

Expert:  Clare replied 2 years ago.
Hi
How long has your pension been running
Clare
Customer: replied 2 years ago.

Approx 25 years


Sue

Expert:  Clare replied 2 years ago.
Hi
There are two ways to address this.
You can take the simple approach based on the figures that you have
The total pensions are £120,000 - a 50/50 split means that the Pension Sharing Order needs to Transfer 40% of your pension Pot to his so that they are balanced.
Alternatively you can get an Actuary to assess both pensions and give a more refined figure.
If you wish to give him cash instead you need to to discount the £40,000 considerably - to anywhere between a third and a half
Please ask if you need further details
Clare
Customer: replied 2 years ago.

Thanks - I am due to retire relatively soon - and would get a large lump sum due to my length of service.


 


Are you saying I don't need to consider this - but could just give a share of the £40k?


 


Sue

Expert:  Clare replied 2 years ago.
Hi
Please bear in mind that I have assumed that you were working with the Cash Equivalent Transfer values of the pensions
If you agree a Pension Sharing Order now then what you receive later on will in fact be reduced in any event as your "pot" will be smaller
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33547
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Clare and other Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice