Family
Pensions
Pensions have now become an all too important part of a family's assets. Where a couple divorce, the Court has power to share ("split") pensions between a couple in order to achieve fairness. Where appropriate, the Court will instead make a Attachment or Earmarking Order.
A Pension Sharing Order will divide a pension to create a pension for each party.
An Attachment Order leaves the pension in the hands of the "pensioner", but provides the Court with powers to direct that all or part of the pension income (when in payment) or any lump sum gratuity be paid over to the other spouse. Such Orders are also made when dealing with any death in service benefits. This can be particularly useful where the pension has a relatively low value, but where the death in service benefits are substantial.
Pensions legislation is complex. The Head of Department, James Myatt, is a Resolution Accredited Specialist in dealing with pensions in divorce. He and the Team will be able to guide you through the various options that may be available, to include not only sharing and attachment, but also "off-setting", where other assets are provided to a spouse in return for forgoing a Pension Order.
The Team regularly call upon specialist assistance from a carefully selected panel of Independent Financial Advisors (IFAs) and from Pension Actuaries who specialise in advising in divorce cases.
Contact: James Myatt or Louise Higham