Divorce and Pensions Solicitors
During a divorce, separating your finances from those of your former partner can often be very complex and, in many instances, can be a point of contention. This is especially true when it comes to dividing pensions.
However, with the right advice on your side, resolving any issues concerning the way pensions are divided can be swiftly addressed. Tayntons divorce and pension solicitors in Gloucester have many years of experience in helping people to navigate the issues related to dividing pensions following divorce. We have strong expertise in collaborative approaches to divorce and can use this to help keep conflict to a minimum, no matter what your circumstances might be.
With a strong focus on clear communication and non-confrontational dispute resolution, our divorce and pensions solicitors can make sure that pensions are handled in the right way in your divorce settlement and that you know exactly what to expect based on your individual circumstances.
For initial advice and to discuss your legal options, we offer an initial consultation of up to 45 minutes for a fixed fee of £75 + VAT (£90.00).
Speak to one of our divorce and pension solicitors now by calling 0800 158 4147 or request a call back, and a member of our team will be in touch promptly.
Our divorce and pension services
Our divorce and pension solicitors in Gloucester can advise you on all of the potential issues you may face in this area, as well as the various options you have for dealing with pensions during divorce, including:
Pension offsetting
Typically, pension offsetting is the most commonly used way of dealing with pensions in divorce. It involves either you or your former partner agreeing to surrender their right to the other’s pension in exchange for a larger share of any other matrimonial assets included in the divorce settlement. So, the value of the pension is offset by the value of the other assets.
Pension offsetting is often a suitable solution for separating couples, as it allows for a clean break. As financial ties are completely cut, it also means that it can be relatively simple to administer.
The value of the pension itself is done on the basis of the pension’s transfer value. This is the value that would be transferred to a new pension if the pension holder was to move their pension. The trustees of the pension scheme calculate the value.
Pension sharing
Pension sharing is another valid option for many couples. This is where a percentage of the pension pot that is to be shared is placed into a separate pension scheme for the sole benefit of the receiver. They will therefore have their own separate pension, providing a clean break and financial security for the future.
This is a particularly good option for anyone who stands to lose access to their spouse’s pension and wishes to have a pot of their own.
Pension earmarking
Pension earmarking is rarely used but remains an option in limited circumstances. It involves a percentage of the pension income being paid to whoever is set to lose out on the benefit of the pension due to the divorce.
The reason pension earmarking is more rarely used is because it means that the two former spouses continue to be financially tied together and, in many cases, can require more effort to effectively administer.
Reaching a voluntary agreement
In almost every instance, you and your former partner will have the opportunity to make a voluntary agreement over how your finances should be divided, including what happens to your pension.
Our divorce and pensions solicitors can be by your side to help you through this process, using various methods of alternative dispute resolution to make sure that discussions remain productive and that you are able to achieve a positive outcome.
Applying to a court
In some cases, it may not be possible to make an agreement voluntarily, which means that court proceedings may be necessary to decide what the outcome should be.
If applying to court is the only way of reaching a positive resolution, our divorce and pension solicitors can lend their support. We can assist with:
- Applying for a Financial Order to decide how your finances (including pensions) should be divided
- Applying for a Pension Sharing Order to decide how pensions should be divided
- Preparing a case for a court hearing
- Providing family court representation
Common questions about divorce and pensions
Is a pension split 50/50 following divorce?
No, not necessarily. Pensions are treated like any other matrimonial asset during divorce, which means that while, yes, you will likely have to share the value of the pension, this does not mean that it will be split equally between both parties.
A 50/50 split may be the starting point for negotiations, but exactly what both parties are entitled to and what the final agreement looks like will depend on a number of different factors, including what other assets need to be split, the financial situation of both parties and what method is chosen.
Am I still entitled to a share of my former partner’s pension if I remarry?
If you remarry following a divorce, this means that you will lose the right to make a claim against most of your former partner’s assets – unless you already have a financial settlement or Financial Order in place.
However, the one type of asset you could still make a claim against is their pension. This means that remarrying will not affect your right to make a claim against your former partner’s pension.
That being said, it is usually sensible to organise the division of your finances, including pensions, before remarrying to avoid any sort of impact on your other financial entitlements.
Why choose Tayntons’ divorce and pension solicitors?
Our divorce and pension solicitors in Gloucester understand just how challenging it can be to make financial arrangements following a divorce, including in relation to pensions. We offer an empathetic but practical approach to these matters, helping to make the situation as straightforward and stress-free as possible.
Our team are highly skilled in non-confrontational dispute resolution, which means we are usually able to support you in making a voluntary agreement over your financial arrangements. As a result, we can help you make arrangements for your pension much faster and with less conflict. This also means costs can be kept to a minimum.
All of our divorce solicitors are members of Resolution – an organisation committed to taking a non-confrontational approach to family law. Our family law team is Law Society accredited for Children Law, reflecting our particular expertise in legal matters involving children.
Tayntons is also home to a Conveyancing Quality Scheme (CQS) accredited residential property team, meaning we can provide a reliable, cost-effective service for any property issues related to your divorce and financial settlements, including if this relates to pension offsetting in any way.
As a firm, Tayntons has been awarded the Law Society’s Lexcel accreditation reflecting the excellence of our practice management and client care.
Get in touch with our divorce and pension solicitors in Gloucester
Looking for help with any aspect of divorce and pensions in Gloucester, Cheltenham, the Forest of Dean or anywhere in Gloucestershire?
Please contact us today by calling 0800 158 4147, emailing us at info@tayntons.co.uk or by requesting a call back.