I am currently Legally Separated and have just started Divorce proceedings.
My 'soon to be' ex wife has recently contacted me (after years of only corresponding through our solicitors) to make a proposal and I desperately need to find out where I can get professional financial advice regarding this - my solicitor can't or won't give me a straight answer, just tells me it's for the courts to decide, which doesn't help me in my current predicament.
I'll try to make it as short as possible:
The Legal Separation was very messy and expensive, I was expecting the divorce to be the same. Then my ex contacted me to say she is happy for the divorce to go ahead and would be happy to accept exactly what she is getting paid now in maintenance - that's her and the 2 last dependant children. Then the pension was mentioned! She says she will revoke all rights to my pension if I pay her a lump sum now - she has yet to come up with a figure. Whatever she decides on and if I accept, I will have to get a loan as I have no savings whatsoever.
Thing is, I want to have an idea of what she might possibly be awarded by the courts should I let a Judge decide. I have seen the 'formula' that is supposed to help you figure out what will be paid, but that's gone WAY over my head. As previously mentioned above, my Solcitor is useless on this matter and says it's up to the Judge.
Another factor is that, in the Legal Separation I was ordered to sign over my half of the house to her, she agreed to take over the mortgage from that point, prior to that I had always paid it as she didn't work outside the home. I got nothing for my half of the house, I basically signed away about €100,000 and had to start afresh, I now only have a 50% share in a house (with a mortgage) and will never be able to afford to buy the other 50%. Will the fact that I gave her my half of the house be taken into consideration by the courts if they were sorting out how much of my pension she should get?
I am also concerned that given there is no 'clean break' divorce in Ireland, if I did accept her proposal and gave her a lump sum now, would she be able to go back to the court in the future and ask for her pension rights to be re-instated?
Last question, if the courts did decide on what she was due, would she still be entitled to a weekly maintenance amount from my pension as well as a percentage of the lump sum involved, or would it just be the percentage of the lump sum?
Sorry for all the questions but I want to make sure I'm not taken advantage of, this 'change of heart' of hers is quite disconcerting so I'm not sure if she's trying to dupe me!
If nobody here can help me, would anyone be able to point me in the direction of a professional who can?
Thanks in advance
Max
My 'soon to be' ex wife has recently contacted me (after years of only corresponding through our solicitors) to make a proposal and I desperately need to find out where I can get professional financial advice regarding this - my solicitor can't or won't give me a straight answer, just tells me it's for the courts to decide, which doesn't help me in my current predicament.
I'll try to make it as short as possible:
The Legal Separation was very messy and expensive, I was expecting the divorce to be the same. Then my ex contacted me to say she is happy for the divorce to go ahead and would be happy to accept exactly what she is getting paid now in maintenance - that's her and the 2 last dependant children. Then the pension was mentioned! She says she will revoke all rights to my pension if I pay her a lump sum now - she has yet to come up with a figure. Whatever she decides on and if I accept, I will have to get a loan as I have no savings whatsoever.
Thing is, I want to have an idea of what she might possibly be awarded by the courts should I let a Judge decide. I have seen the 'formula' that is supposed to help you figure out what will be paid, but that's gone WAY over my head. As previously mentioned above, my Solcitor is useless on this matter and says it's up to the Judge.
Another factor is that, in the Legal Separation I was ordered to sign over my half of the house to her, she agreed to take over the mortgage from that point, prior to that I had always paid it as she didn't work outside the home. I got nothing for my half of the house, I basically signed away about €100,000 and had to start afresh, I now only have a 50% share in a house (with a mortgage) and will never be able to afford to buy the other 50%. Will the fact that I gave her my half of the house be taken into consideration by the courts if they were sorting out how much of my pension she should get?
I am also concerned that given there is no 'clean break' divorce in Ireland, if I did accept her proposal and gave her a lump sum now, would she be able to go back to the court in the future and ask for her pension rights to be re-instated?
Last question, if the courts did decide on what she was due, would she still be entitled to a weekly maintenance amount from my pension as well as a percentage of the lump sum involved, or would it just be the percentage of the lump sum?
Sorry for all the questions but I want to make sure I'm not taken advantage of, this 'change of heart' of hers is quite disconcerting so I'm not sure if she's trying to dupe me!
If nobody here can help me, would anyone be able to point me in the direction of a professional who can?
Thanks in advance
Max