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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34887
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 enquiring about financial arrangements after a separation.I

Customer Question

I am enquiring about financial arrangements after a separation.
I am retired with a teachers pension and old age pension totally app £2300 net a month and my wife is self employed with a regular monthly income of £600 plus dividends from her company amounting to app £40,000 a year.
We own a house worth app £180000 which has a mortgage attached go it of about £80000 and an endowment policy to mature in 2015 for app £75000.
Has my wife any claim to my pension and should I expect the house to be divided equally.
I am 70 and my wife 55 and I am the offender!
Submitted: 4 years ago.
Category: Family Law
Expert:  Clare replied 4 years ago.
Thank you for your question
I shall do my best to assist you but I need some further information first.
How long have you lived together and how much will a one bedroom property in the same general area cost?
Customer: replied 4 years ago.
We have lived together since 1993.and we're married in 1996.
A one bed house in the same area would cost app £1250000
Expert:  Clare replied 4 years ago.
Just to be certain that I have not misunderstood - your wife has an income in excess of £40,000 a year?
Does she have any pension provision?
Customer: replied 4 years ago.
Her income is variable depending in the company profit bit in this financial year she has already take £40000 in dividends plus he monthly salary of £600
She has small pensions from previous employment to be taken at retirement age and she is making monthly investment into a pension fund of £100
Expert:  Clare replied 4 years ago.
The fact that you are "to blame" for the breakdown of the relationship is not relevant in any way to the financial settlement
Given the difference in your ages and income capacity it is in fact likely that the priority for the court will be your safe and secure rehousing and on that basis it is quite likely that you will in fact receive a larger share of the equity - and keep your pension
This can of course only be the roughest of guides but if you need further information please ask