I'm hoping we have enough legal knowledge on the BBS to answer me a question.
I separated from my wife in November 18 and we had a financial agreement drawn up which neither of us took legal nor financial advice on - it was a 50/50 split of everything. The premise was that the marriage was over and we split, and we'd divorce on 2 years separation in Nov 2020. Monies where handed over except for the pension part which requires a pension sharing order issued by the court.
After signing that financial agreement I discovered that she actually had an affair on the go so I changed my mind and started proceedings for unreasonable behaviour (she won't admit adultery). My solicitor asked if I wanted to put forward the financial agreement and turn it into a court order as it wasn't legally binding because there was no legal and financial full disclosure, that would cost about £1000-£1500. We agreed not to since she is the one waiting on the pension sharing order, I would only be paying for a solicitor to pay her more money. Let's see if she does it.
My question is, what if she doesn't? We calculated that I have to hand her 37% of my pension pot to make a 50/50 share of accumulated pensions. I have agreed to this as much as it disgusts me, but scenarios could play out, such as what if she waits 5 years before claiming - if the divorce is completed can she claim for the pension I paid in whilst divorced from her or would this be accounted for? And what if I she never does? Can I then withdraw my whole pot on 55 years old and spunk it all away (hide it) then do the order myself so that she gets 37% of nothing?
Ultimately it'll be a case of legal advice, but if somebody actually knows this stuff then it can help me plan.
Cheers legal eagles
I separated from my wife in November 18 and we had a financial agreement drawn up which neither of us took legal nor financial advice on - it was a 50/50 split of everything. The premise was that the marriage was over and we split, and we'd divorce on 2 years separation in Nov 2020. Monies where handed over except for the pension part which requires a pension sharing order issued by the court.
After signing that financial agreement I discovered that she actually had an affair on the go so I changed my mind and started proceedings for unreasonable behaviour (she won't admit adultery). My solicitor asked if I wanted to put forward the financial agreement and turn it into a court order as it wasn't legally binding because there was no legal and financial full disclosure, that would cost about £1000-£1500. We agreed not to since she is the one waiting on the pension sharing order, I would only be paying for a solicitor to pay her more money. Let's see if she does it.
My question is, what if she doesn't? We calculated that I have to hand her 37% of my pension pot to make a 50/50 share of accumulated pensions. I have agreed to this as much as it disgusts me, but scenarios could play out, such as what if she waits 5 years before claiming - if the divorce is completed can she claim for the pension I paid in whilst divorced from her or would this be accounted for? And what if I she never does? Can I then withdraw my whole pot on 55 years old and spunk it all away (hide it) then do the order myself so that she gets 37% of nothing?
Ultimately it'll be a case of legal advice, but if somebody actually knows this stuff then it can help me plan.
Cheers legal eagles
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