Each week we are inundated with Family Law queries on everything from what happens to my pension on divorce to who gets custody of the dog!
So, each week we will take a question and hopefully give you a little clarity on where you stand when it comes to English Family Law and your particular situation.
Q – I have been married for 23 years and have 3 grown-up children but my husband has now asked for a divorce. It was taken as a joint decision early on in our marriage that I would give up my job to be a stay-at-home mum, dealing with the bills and the general day to day running of the household, whilst my husband would be the breadwinner.
As I have not worked in many years I have no pension but my husband has built up a significant pot. I would like to know if I would be entitled to a share – he says not! Mrs P
A - Both men and women may take career breaks for one reason or another during a marriage, resulting in one partner inevitably contributing more to the pension pot than the other, leading to the misconception that more or all of the pension belongs to the spouse who has contributed the most money. However, this is not necessarily the case. The law recognises that bringing up children for example, is contributing to the home and family life and therefore assets built up during marriage, including pensions, should be shared on separation.
You can negotiate to offset the value of any pensions against other assets such as the family home. For example, you may get a larger share of the family home when sold in return for your ex-spouse keeping their pension. Alternatively, a portion of the pension can be reserved for use in retirement or the pension can be split and a cash sum transferred to a pension pot in your name.
A specialist family law solicitor will look at all your finances and advise you on what is a fair settlement in your circumstances.
Acclaimed Family Law offer a free 30 minute consultation with an expert family law solicitor – call 01145517555 or book online https://bit.ly/3w1LdI5
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