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Financials

Posted by Fifties 
Financials
May 06, 2021 07:48PM
Hi , can anyone tell me if this is more than reasonable and will this be fair and final .
I have left wife in our home worth £400000 with all contents and our car say 25k worth . I have a pension pot of 210 k . I earn 2100 a month she takes home 1200. No mortgage no debt. I don’t want to cause her any problems moving forward as I have turned her life upside down . Could we split assets with me keeping pension in full and her keeping house ? No maintenance payments etc We were married 32 years . Thanks for any advice as obviously new to this .
Re: Financials
May 07, 2021 09:47AM
Yes, it would be possible but I would make a few points about this.

1. No matter what agreement you come to you should ensure it is made formal and final in a court order before you transfer any property. If you neglect to do this you run the risk that in the future your wife changes her mind and comes for a share of your pension.

2. You say you are doing this because you have 'turned her life upside down'. Well, that may be but you are unwise to make decisions like this based on guilt. Courts don't care why a marriage breaks down and it does not affect the financial outcome. More realistically you need to look at your future needs and not base a decision on guilt. For instance, you can't buy a house with a pension. If the house represents most if not all the capital that has been built up during the marriage and especially is that house is bigger than one person reasonably needs it may actually be more sensible to divide the equity and the pension.
Re: Financials
May 07, 2021 03:00PM
Thanks very much for your advice on this .
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