There is widespread misunderstanding on the importance of including pensions when couples are deciding how to divide their finances on divorce. To help with this Advicenow, working with the Pensions Advisory Group, has published the “Survival Guide to Pensions on Divorce”. This free-to-access guide helps with the reasons so many divorcing couples overlook their pensions, and offers a step-by-step guide on the following:
- What the Law says about pensions;
- How to get your pensions valued;
- How to reach an agreement with your spouse; and
- How to access expert help and when this might be required.
Pensions are often viewed by divorcing couples as too intimidating and complicated and the problem is compounded by a severe lack of availability of user-friendly information. As a result of this, much research has shown not sharing pensions often leads to women, particularly those with children, being in an unnecessarily uncertain financial position in later life. This is why the importance of the publication of the “Survival Guide to Pensions on Divorce” is so important.
The guide is an accessible version of the “Guide to the Treatment of Pensions on Divorce”, produced by the Pensions Advisory Group in 2019, regularly used by family lawyers throughout their practice and has the endorsement of both the Family Justice Council and the President of the Family Division. It can be accessed and downloaded for free, or at the cost of £20 for a hardcopy to be delivered straight to your door:- A survival guide to pensions on divorce | Advicenow.
Although the guide will prove undoubtedly useful to divorcing couples who may struggle to afford legal advice, it is still advisable to get professional help if possible - please do not hesitate to contact the Family Team at Clifton Ingram LLP should you wish to discuss how to divide your finances on divorce.
This article is written as a general guide and believed correct at the date of publication. If you need further or more specific information relating to your situation, please get in touch with us.
AUTHOR: Alice Ridgus