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Pensions
& Divorce
There
are around 150,000 divorces each year in the United
Kingdom. Recent Law Lords rulings for Melissa
Miller and Julia McFarlane could have wide ranging
implications for the financial aspects of future divorce
settlements.
Pension assets can
often be the largest single financial asset that must be
dealt with as the result of a settlement. However, these
assets are often unevenly distributed between the
divorcing couple. It is important that pension rights
are considered when agreeing the terms of the divorce
settlement.
There
are currently three main options to consider with
dealing with the pension aspects of a divorce:
- Offsetting
- Earmarking
- Pension
Sharing
We
offer a free initial consultation to discuss the
financial implications of your divorce. After this first
meeting we will draw up a detailed proposal for the
provision of advice, implementation and review services
for a fixed project fee.
It is
usually best to appoint a professional financial adviser
before any decisions are made about the structure of the
financial settlement. We have experienced several
cases recently where the solicitor has waited too long
before engaging with us.
Many
solicitors are not familiar with the technicalities
surrounding pensions and require our assistance asking
the right questions to gather appropriate information so
you can make an informed choice.
We
will work closely with your legal adviser to ensure that
you make the most appropriate decisions about your
finances. Call us on 01483 274566 or email hello@icl-ifa.co.uk
to arrange an initial meeting without any charge or
obligation.
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