Pensions and Divorce
According to the Office for National Statistics, almost half of all marriages in England and Wales will end in divorce if current trends continue. Whether the split is acrimonious or relatively amicable, the sharing of the assets of a couple can be complex. One of the largest assets in a marriage is often the pension and it is important that this is considered very carefully before any final agreements are made, or the courts are asked to arbitrate, as getting this right can have a significant impact on your future financial security.
Rather than a traditional acrimonious and expensive divorce, many couples choose to go down the Collaborative Law route. In this process both parties will sit down with a solicitor who practices Collaborative Law to agree between themselves how the assets of the marriage will be divided, rather than relying on the decision of the courts.
Monahans Financial Services Ltd, recognising the growing importance of this subject, has invested in training and support material to ensure their independent financial advisers can provide the best possible advice to help people going through this traumatic process to plan for their financial futures.
This has culminated in Andrew Hunt, a Senior Consultant at the firm, being awarded Accredited status by Resolution in order to give specialist advice to solicitors and their clients with regard to the financial planning aspects of divorce. He joins a very select group as there are only a handful of such specialists in the country.
Resolution, which was formerly known as the Solicitors Family Law Association (SFLA), is an organisation of 5,000 lawyers who believe in a constructive, non-confrontational approach to family law matters. Visit the Resolution web site via this link to find a solicitor who practices Collaborative Law.
This award is in recognition of the expertise that Andrew has acquired on the subject and means he is ideally placed to advise solicitors and their clients to ensure people come out of any divorce proceedings with their financial futures secure.
We can help you to understand the changes that divorce will bring to your finances and to plan accordingly. We can help value assets within a marriage and can help, alongside your solicitor, to facilitate a fair splitting of them for both parties.
Monahans Financial Services Ltd has also produced a guide to Pensions and Divorce to help solicitors and their clients in this complex area. For a free copy of this guide please contact our marketing team on 01225 785520 or email them via this link.
Ensure you secure your financial future by considering pensions as part of any divorce settlement.