The importance of pensions is often underestimated. In many of our cases, pensions are a significant asset. They can be central to your future financial security. The first step is to check that the value given to the pension fund is accurate, secondly we have to understand how funds can fairly and effectively be shared between parties. We work closely with specialist pensions advisors who can help with this.
There are a number of different ways of sharing a pension upon divorce or dissolution. It is important to consider how the pension should be taken into account and the impact this will have on the financial futures of you and your spouse. Usually a pension order is obtained which separates the funds so that your own fund is created from the pension of your spouse. If your priority is to receive more capital in lieu of future pension provision you will need advice about this.
Before deciding how best to deal with a pension we need to understand various issues - what will the income be upon retirement? How can the pension be shared in the most tax efficient manner? Which pension ought to be shared and by how much? These are all questions which we and our trusted team of pension advisors can help you with. Pensions are complex assets and specialist advice is crucial in ensuring that you make the right decisions.