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| Divorce can bring difficult financial decisions |
Q: My husband and I are divorcing. He has got a company pension and I have a stakeholder plan. Could he get a share of my pension money?
A: Technically yes. Stakeholder pensions can be shared like any other pension arrangement.
However, the court's aim will be to share your assets fairly between you. Your pension will be taken into account but if your husband owns the bulk of the assets then your stakeholder pension should be unaffected.
Speak to your financial adviser. Alternatively, for a free guide to pensions please call 0800 544 644.
Q: We own our house as joint tenants and need to change this to tenants in common' so that we own 50 per cent of it each. How much will it cost to do this?
A: You can do this yourself and you'll need Land Registry form RX1 available from their website.
It costs nothing to do this. However, if you are receiving professional help with this then your advisers may charge you for their time etc. Speak to your financial adviser or call 0800 544 644.
Q: What is asset deprivation when talking about care fees?
A: This is a financial arrangement deliberately designed to limit your contribution to any care fees you may need in the future.
If a local authority believes that you have such an arrangement, it will ignore your reasons for the arrangement but will include whatever value was involved in its financial assessment of you.
There are perfectly legitimate steps that you can take to help protect your inheritance. Speak to your financial adviser.
Alternatively, for a free guide to long-term care, savings and investments, inheritance tax or wills please call 0800 544 644.
Q: Who are fixed rate mortgages good for?
A: Typically, fixed rate mortgages can be good for first-time buyers and equally those on a tight budget. They are also attractive to people who simply want the stability of a fixed monthly repayment. Speak to your financial adviser or call 0800 544 644 for a free guide to mortgages.
4:08pm Monday 3rd March 2008
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