A friend is going through a rough time. In a long term relationship and had 3 kids and her partner pushed to get married and so they did. He became pretty successful in his job and after a while they decided she would give up hers to looks after the kids so all was good.
Then an opportunity came up for an overseas assignment and they all headed off. A year or two later he got "distracted" and so she headed home with the kids to the family home. Things are progressing towards separation / divorce and she now has a solicitor on the case but obviously him being overseas complicates things.
To me the big issues are the family home and pension pots (for both of them). I'm wondering what the process for negotiation is, for example.
Any advice would be much appreciated as this is a life changing situation for herself and her kids.
Roy
Then an opportunity came up for an overseas assignment and they all headed off. A year or two later he got "distracted" and so she headed home with the kids to the family home. Things are progressing towards separation / divorce and she now has a solicitor on the case but obviously him being overseas complicates things.
To me the big issues are the family home and pension pots (for both of them). I'm wondering what the process for negotiation is, for example.
- I presume she gets to live in the family home until the kids finish college (10 years from now)?
- Is she entitled to 50% of his pension pot (and he entitled to 50% of her)?
- If the equity on the house is say 200k and she were entitled to say 250k from his pension pot could she buy him out by offsetting 100k from his pension against his equity in the house?
- Would she (and the kids) be entitled to be beneficiaries for any insurance policies he has (including Death in Service from his pension?
Any advice would be much appreciated as this is a life changing situation for herself and her kids.
Roy