Although divorce rates have been steadily falling over the past decade, divorce still affects a significant number of people.
The emotional pressures faced during this difficult time are compounded by financial decisions that can have lasting implications. Good financial advice is essential to give you peace of mind that your future, and that of your dependants, is provided for.
We will work closely with you and your legal representative to facilitate the settlement and prepare a financial plan for your future. After a comprehensive fact-finding exercise with you to establish your current circumstances, we will prepare a detailed report to analyse your financial affairs and recommend strategies for the management of your settlement.
The valuation and splitting of pension benefits during a divorce is a particularly complex area. With extensive experience in this field we can advise on the key ways of dealing with pensions in divorce including offsetting, earmarking and pension sharing.
This means the pension funds are valued, and the spouse with the greater benefits provides the other spouse with additional funds elsewhere in the settlement to compensate for the loss in pension rights.
This entails the courts issuing an attachment order to the pension scheme, which requires the trustees of the pension scheme to pay a proportion of the member's benefits directly to the ex-spouse when the benefits are taken.
All pension benefits are valued and the petitioner with the lower funds is then granted a share of the member’s benefits in accordance with the overall settlement amount due at the date of divorce.