Future Financial Preparation
If you are going through a divorce, you will be facing a mass of legal paperwork and seemingly endless decisions concerning financial arrangements.
The question of pension entitlement following a divorce is Just One More Thing to Worry About, and can be a tricky and sensitive issue. At Gray Purdue Solicitors we can help you with this added burden.
We are experienced in dealing with all aspects of separation and divorce procedure, and we will never overlook any detail of the settlement to which either party is entitled.
Since new regulations in the law there are three options to consider when dividing a pension fund between separating spouses:
Offsetting - this is where the court considers all matrimonial aspects as a package and divides them equally between the two parties, effectively offsetting the value of one asset against another, and resulting in one party receiving the pension fund and the other receiving another asset.
Earmarking - in this case the court decides a percentage of one spouse's pension to be set aside for the other spouse, once the pension becomes payable. This claim can be made against the lump sum, the annual income or the death in service benefits of the pension. However, this solution has been unpopular with judges because the claiming party has no control over either the fund or the other spouse's decision to retire, and would lose all claim on re-marrying or death.
Sharing - with this option a percentage of one spouse's pension is awarded to the other spouse's pension fund, but in this case the receiving party is in control of the fund and it is not affected by remarriage or death. This option also has its negative points but in general is more flexible.
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For further information
please phone
023 92 265251 |
Expert Divorce Advice
Our expert family solicitors will provide you with all the relevant information plus specialist advice and guidance, so that you are in a position to make the right decision.
We will take care of the necessary legal procedure with the minimum amount of inconvenience, so that you are free to concentrate on more pressing matters.
FREE 20 Minute Interview
We are happy to provide an initial 20 minute free consultation, during which we can gain insight into your situation, make an assessment, and offer advice as to the action best suited to your particular circumstances.
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