If you’re divorced was the pension divided correctly?
Thousands of women may have a claim against their solicitors over the way the pension was divided during divorce.
Sorting out the finances if you get divorced is not always straightforward. And one of the most complicated parts is working out a fair split of any pension. Since December 2000, pensions have been able to be split at the time of divorce (or ‘shared’, in the jargon). But, depending on how the pension was valued, you may not have got your fair share.
What happens to the pension during divorce? Why you shouldn't overlook the pension.
During divorce, it's easy to underestimate the importance of the pension when working out how assets should be split.
Most of us find it difficult to get enthusiastic about pensions at the best of times, never mind if you’re going through a divorce. But the fact is that women tend to retire on significantly less than men. Not all women lose out at retirement, but those who get divorced – especially if it’s later in life – may do. The law changed 10 years ago to make it easier for the pension to be split at divorce, so it’s worth understanding the different options.
Is child support counted as income by mortgage lenders?
If you receive child support, some lenders won’t lend against it but others will.
If you’re getting divorced and receive child support, whether or not the child support you receive will be classed as income depends on the mortgage lender you’re with. Some banks will take 100% of your child support into account once it’s been paid for a few months, others ignore it altogether. And government plans to get more people to make private arrangements could make things worse.