In many marriages, a pension can be a substantial asset. Unfortunately however, it is often overlooked meaning that many couples are not receiving their fair share of the marital finances on divorce.
Pensions are a complex area and this is often the reason why they are left out, there is usually very little information available that can be easily understood, or one person has a strong emotional attachment to keeping their pension as something they have worked their whole lives for.
A new pensions survival guide has now been published which explains what divorcing couples need to do about their pensions, how to find out their value, and when expert advice is required. You can access the guide here: A survival guide to pensions on divorce | Advicenow
At Sinclair Law we always strive to achieve a fair financial outcome on divorce, and we always ensure that all the appropriate assets are taken into account. There are a number of ways pensions can be dealt with, for example they can be shared between the couple or one person can receive a higher proportion of the other assets whilst the other person keeps their pension.
Income in retirement is also a significant consideration that should not be ignored.
If you are divorcing or considering a divorce, and you or your partner has a pension provision that you need advice on, please call us on 01625 526 222.