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Dividing lump sum prior to legal moves

2TL · 2012-08-15 11:55:20

Hi, My parents are separating and the assets will be split. My father is recently retired and received a moderate lump sum which my mother has requested half of immediately. My father has no problem doing this but is concerned that she will still be entitled to half of what he will have left of the lump sum when things go…

15-08-2012 11:55am

#1

2TL

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: August 2012

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Hi,

My parents are separating and the assets will be split. My father is recently retired and received a moderate lump sum which my mother has requested half of immediately. My father has no problem doing this but is concerned that she will still be entitled to half of what he will have left of the lump sum when things go down the legal route i.e. if his worth will be calculated at that point in time with no acknowledgement of the half of his money that she would receive now.

Should he seek to have her sign an witnessed agreement acknowledging that she has received half of his money and that she will not seek any further part of his lump sum in the future, or should he refuse to hand over anything pending a seperation settlement? Would any agreement signed be binding and should he word it himself with a witness or seek to have a solicitor draft one?

Thanks in advance for any advice offered.

2TL

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