Looking for a pension divorce settlement?
Did you know that pensions can be shared on divorce or the ending of a civil partnership? Just like other valuable items, such as your savings or the family home, pensions are treated as assets.
However, during divorce proceedings, couples will often focus on the more tangible areas first, such as childcare or where family members will live; meaning financial arrangements, especially any pension divorce settlement can be overlooked.
Each and every circumstance is different, so our friendly team of divorce pension advice solicitors in Stafford and Telford are here to help ease the burden during this stressful time.
Our service includes:
- Helping you navigate pension calculations, alongside your financial advisor. to define what your pension(s) are worth
- Ensuring your pensions are shared fairly on divorce
- Navigating disputes and helping alleviate concerns about the correct and fair sharing of assets.
What are the rules around a pension divorce settlement?
After your home, your pension and that of your partner is usually the second most valuable asset in a marriage. While a pension pot is not immediately accessible, like the cash you have saved together, it is viewed in law as a joint asset and therefore must be shared fairly between both parties.
A pension can only be in one person’s name, meaning couples often mistake it as belonging solely to that partner. This is particularly the case if one partner has paid into their pension pot over a long period of time. However, in the eyes of the law, a pension is treated as part of the overall matrimonial finances, regardless of whether one partner has been the main earner, and has therefore had the opportunity to make higher pension contributions, and the other has taken more responsibility for the care of children or the family home.
Our family law solicitors are here to support and provide divorce pension advice in Stafford and Telford. If you wish to discuss your financial situation, we offer a FREE 30-minute consultation. Get in touch with us or call on: 01785 223440