Divorce is a stressful time. The end of a relationship is difficult, both emotionally and financially. Dividing up the assets you share as a married couple is one of the toughest parts of a separation.
Anything you have under a shared name must be considered. Your assets could include property, money in the bank and pensions.
Since divorce pension sharing was introduced in December 2000, pensions MUST be included in a divorce settlement. In other words. pensions are part of the total marital assets you share and as such a pension will be shared with your spouse in a divorce settlement.
IN A DIVORCE SETTLEMENT, YOUR PENSION COULD BE SUBJECT TO EITHER AN EQUAL 50/50 SPLIT, OR AN EVEN HIGHER AMOUNT AWARDED IN FAVOUR OF YOUR EX-SPOUSE.
Pension sharing isn’t always the first thing divorcing couples think of. Typically, most people focus on what will happen to the family home. But pensions are in most cases one of the biggest assets of an estate, so it’s important to plan correctly for your future.
If you are considering, or are currently in the process of legally divorcing from your spouse, then you need to take immediate action to protect your pension from being misappropriated in a divorce settlement.
It is imperative that you talk to one of our professional pension trust specialists prior to making any offers of settlement to your spouse. Failure to do this will result in you being subject to an unfair settlement regarding your pension funds.
WE CAN PROTECT YOUR PENSION ASSETS FROM DIVORCE SETTLEMENTS
If you wish to talk to one of our professional pension trust specialists, then please fill out the form on this page and you will be contacted shortly.