- March 30, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Situation:
I had been working towards achieving financial independence, retire early (FIRE) by the age of 45 with my partner. I diligently invested all of my overtime earnings into investments and pensions, aiming for a secure future.
## Financial Details:
Both my partner and I have an annual income of £50,000 each, and we jointly own a mortgage-free house valued at £375,000. Additionally, my pension fund is valued at £750,000, representing years of hard work and dedication towards our shared goal.
## Unexpected Revelation:
Despite my belief that my partner was equally committed to our financial goals, it was revealed that she had opted out of contributing to her pension and had not made any investments as previously claimed. This deception has not only jeopardized our shared plans for early retirement but has also put a significant portion of my hard-earned pension at risk.
## Legal Concern:
Upon seeking legal advice, I was informed that my partner’s actions, while deceitful, may not be considered fraudulent under current laws. This realization has left me feeling betrayed and uncertain about my financial future.
## AI Legalese Decoder Solution:
AI Legalese Decoder can help analyze the legal implications of your partner’s actions and provide alternative strategies to protect your assets and retirement plans. By utilizing advanced technology, the AI Legalese Decoder can offer personalized advice and guidance on navigating this complex situation, potentially salvaging your FIRE plans and ensuring a secure financial future.
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****** just grabbed a
Your solicitor knows more than Reddit. However – has she ever put her claims down in writing? A text about her pension value etc? Or an email? It seems bizarre that she would have no pension at all, so is it possible she’s hiding it?
If your solicitor is saying thereÔÇÖs not a lot to be done then theyÔÇÖre likely right, they are after all the experts. IÔÇÖm sorry that this has happened to you, the way divorce works in this country can be horribly unfair at times.
>This has resulted in them getting the house
How?
>but also a massive chunk of my pension
Not necessarily. Pensions are indeed included as marital assets and can be split during divorce. But if both of you have similar income, age, time at work etc and she has her own pension and no kids to complicate things, it is unlikely she would take a massive chunk during divorce.
You could sue her for breach of contract (even an oral one). But it is hard to prove you have suffered any real and quantifiable financial loss in my opinion.
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Is there no “deprivation of assets” rule in divorce? This seems a horrible situation and against the spirit of the intention behind splitting assets. If this is legal why can’t people gift all their assets to family members before finalising a divorce as a matter of course?
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325,000 on a pension is still good especially for someone under 45, sound like worst case scenario she delayed your retirement. Think of all years youÔÇÖve got back as it could of gone on longer and you are free, youÔÇÖve got more time to get back on track
Sorry about happened though it does sound that you were lied too when you were doing the right thing
You can renegotiate with her and get a financial settlement order to reflect the agreement.
You can keep the entirety of your pension by offsetting it and offering something of value – like more of the house.
If your pension fund is in a traditional scheme then you wouldnÔÇÖt be able to access it before 55 at the earliest so IÔÇÖm unclear how exactly this stymies your FIRE plans.
YouÔÇÖre unlikely to get anywhere with trying to get a court to accept she defrauded you by sending money to her family rather contributing to a pension. Many abuse victims – even those recognised as such – have been stuck with debt run up in their name with no knowledge.
If things havenÔÇÖt entirely broken down between you, your best bet is to speak to her and see if sheÔÇÖs willing to move her position. But itÔÇÖs high risk if you get your approach wrong.
Honestly get another lawyer working on a percentage commission base. Clearly the law was not meant to be used to this effect.
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