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  #16  
Old 11-01-17, 12:33 PM
jtrade jtrade is offline
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Quote:
Originally Posted by Ginger View Post
You don't have to go to a solicitor. The clue's in the title: they try to solicit an outcome (the best for their client.)The moment either of you goes to one, the other will do the same and the bills get huge. The courts will expect you to have tried to use a mediation service regardless of whether solicitors are involved. You'd be well advised to seek the relevant mediation service yourselves. If you can't find agreement that way then at least you can demonstrate to a court that youve tried. Dont forget that solicitors don't make or enforce law - the courts do that. Solicitors may well try some negotiation in the hope that they'll achieve a favourable outcome outside of the courts but generally they'll just take you through the divorce process because you wouldn't be with a solicitor if you could agree... You can do it yourself if you're so minded.
What Ginger wrote.
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  #17  
Old 11-01-17, 12:39 PM
Rana Rana is offline
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OP - I've just had a "transfer out" valuation of 35x of my final salary pension last week. That is, if I left my company and froze my contributions today, what I would receive at age 60 (excluding any inflation) multiplied by 35 times is what I can transfer out if I also wanted to leave my company's DB pension scheme. At that rate, it's by far the biggest asset I have.
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  #18  
Old 11-01-17, 01:07 PM
Bob McC Bob McC is offline
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Take pro advice

But I'd expect you to get half her pension and she half of yours.
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  #19  
Old 11-01-17, 01:14 PM
winchman winchman is offline
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Quote:
Originally Posted by Bob McC View Post
Take pro advice

But I'd expect you to get half her pension and she half of yours.
Sounds fair
From what others tell me once you involve the legal profession you just end up splitting it 3 ways.
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  #20  
Old 11-01-17, 01:24 PM
sean99 sean99 is offline
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Originally Posted by winchman View Post
Sounds fair
From what others tell me once you involve the legal profession you just end up splitting it 3 ways.
I think that depends on whether you simply get legal advice, or whether you hire solicitors and go to war. I suspect the trick is to get good legal advice without ending up at war - probably have to tread very lightly.
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  #21  
Old 11-01-17, 01:47 PM
Spiderous Spiderous is offline
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If you've typically earned more than she has by 5-10%, negotiate on the 50-50 split in your favour and let her have her pension.
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  #22  
Old 11-01-17, 02:07 PM
madmike madmike is offline
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As a family lawyer of some experience I am happy to have a 1 to 1 chat with the OP.
For the general reader I would say that mediators have'nt got a clue. They do not give advice. They mediate. They do not advise. If you both reach an agreement in mediation they have done their job...never mind the outcome. You need a lawyer who knows his stuff and is'nt afraid to give you advice. Its up to you what you then do with the information.
A final salary pension is worth far more, even than the stated CETV as any actuary will tell you. A money purchase scheme is more likely to be truly worth the CETV.
Consider what the benefits are in each scheme and the cost of buying an annuity on the open market to provide those benefits, that will give you some idea of the relative values.
To achieve a fair split on the pension assetts you need to level the playing field. Just using the CETV figure on two different schemes is not enough.
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  #23  
Old 11-01-17, 02:15 PM
thebiglebowski thebiglebowski is offline
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Wouldn't it just be simpler to sell the house, divide up stuff you want to keep and then walk away with your own pensions.

Arguing over pensions is going to turn an amicable divorce into war of the roses.
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  #24  
Old 11-01-17, 02:18 PM
lAmBoY lAmBoY is offline
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appreciate that madmike, i am not planning on going to war but I would love to take a few minutes of your time to better understand CETV vs final salary. Ultimately we both want a fair clean break.
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  #25  
Old 11-01-17, 02:20 PM
lAmBoY lAmBoY is offline
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Quote:
Originally Posted by thebiglebowski View Post
Wouldn't it just be simpler to sell the house, divide up stuff you want to keep and then walk away with your own pensions.

Arguing over pensions is going to turn an amicable divorce into war of the roses.
She wants to keep the house and give me 50% equity.

Ultimately we both contributed over a long period of time and generated assets, pensions are no different from a house in my opinion. They are just another investment method.
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  #26  
Old 11-01-17, 02:27 PM
madmike madmike is offline
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If you are both in your 40s and married when you started work then its a "long" marriage of about 20 years at least. Pensions are definitely marital assetts and should be taken into consideration. You are thinking the right way, pensions are just another investment. People do get precious over "their" pensions. Thats why cases go to court, not because of the lawyers.
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  #27  
Old 11-01-17, 03:24 PM
Cav Cav is offline
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It seems to me that you don't share the same opinion of what 50/50 is.

If she is a Head Teacher in the UK with a final salary pension then that would be worth quite a lot.

I suggest that you seek legal advice. This does not necessarily mean some heavy court action but merely for you to get some clearer idea of what should be in or out of a settlement. Particularly since in your OP you talked of being "screwed over".
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  #28  
Old 11-01-17, 03:29 PM
MichaelC MichaelC is offline
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Quote:
Originally Posted by david ellwood View Post
Keep things friendly. Take the hit on her pension.
Get things sorted as quickly and cheaply as possible.

Getting her pension involved could hand all your assets to the legal profession.
Correct

Correct

Correct

This is the correct answer.
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  #29  
Old 11-01-17, 03:47 PM
misterdog misterdog is offline
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Quote:
Originally Posted by neilm View Post

But the sensible advice is to go to a lawyer
And be screwed over by the legal profession.

Sorry to sound negative.
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  #30  
Old 11-01-17, 03:59 PM
Cav Cav is offline
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It seems to me that getting expert advice could net many thousands for a modest outlay.

Why do people assume that legal advice always leads to court and/or huge fees? US posters?

Get this wrong Lamboy and it could cost you big time financially. If you get proper advice you will then be able to make a more informed choice.
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