Divorce/Clean Break question CETV value

Discussion in 'Finance, Property, Law' started by adampoo, Feb 21, 2012.

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  1. Hi,

    Like the majority of people these days I have fallen victim of divorce. Normal story, away on tour too much blah blah blah, so I divorced her pn the grounds of unreasonalbe behaviour on her part

    Im now doing my clean break order and trying to make sense of a CETV that I have just recieved from the AFPS.

    We were married for 7 years during which I have been serving full time. My CETV I recieved was valued at £35K for the 12 years I have done.

    So does this mean that it is roughly £35k multiplied by 7/12ths (£20K), then divided by 2?

    I am right in assuming that if my pension if split 50/50 the amount she should be entitled to would be around £10k

    I am lothed to get a solicitior yet, but is this roughly correct?

  2. Sorry, it must just be something in the air around camp these days
  3. Adampoo - That would be a reasonable approach provided that she had not been accruing any pension herself. If she has, you are, of course, entitled to a "share" of that.

    £10,000 in pension terms is relatively negligible of course. You could always "set off" any pension share against any other assets. If you wanted to do that then you would have to treat its capital value in a different way. Because it is not "liquid" capital, and I assume will not be available to you for a significant number of years, you should "discount" the capital value of the sum you wish to set off. You might, for instance, say that instead of giving her £10,000 worth of CETV into her pension fund by way of sharing you will give her £2,000 cash now, with no pension sharing order. Would also save you the costs involved with implementing the pension share. Depends on your situation and preferences.
  4. Thanks very much for the reply.

    Another "factor" in my circumstances is that I took on all family debt (around £12,000) since seperation which she has never contributed to. Would this be taken into account in the eyes of the court in the case of a clean break?

    Many thanks in advance, you are helping a lot
  5. adampoo, assuming she has little income (part time job only or similar), prepare to be shafted. She is entitled (potentially) to half of everything at the time of the divorce. What debts you may have paid off prior to that will probably not be taken into account.

    Your best bet by far is to try to protect your pension by offering something else instead (a greater than 50% share of current liquid assets for example). Generally speaking, women in this situation tend to look at immediate benefit. You should look to play the long game.
  6. Okay, she got all of the assets from the house and I took on all the debt after divorce. Im not concerned about stuff during, but after the divorce I am. So surely legally she would be responsible for half of that debt too?

    For example if after divorce we owed £12,000, then she should pay half off too? Then assests accounted for and split 50/50 too?

    Thanks for the help
  7. If the debts are in both of your names she is responsible for half. If the debts are just in your name, unlucky!!!!!
  8. So if the loan is in both names and its from a joint account, CASH BACK! Sweet news.
  9. Or a bargaining chip to try and protect your pension. Think long term. ;-)
  10. PM Sent, mine didn't get a penny, it's worth doing your research and arriving in court with a plan.
    • Like Like x 1
  11. Does it make any difference if I have children?
  12. adampoo with the CSA all the difference
  13. No, I mean in the respect of pensions
  14. No.

    But it does make a difference in other areas.