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Pensions are an asset in the same way as your house or other savings are assets
Pensions are an asset in the same way as your house or other savings are assets. In many cases, the personal or workplace pensions of you and your partner will be taken into account when a divorce financial settlement is worked out.
That’s why it’s usual for your pension fund or funds to be treated as an asset that should be divided between you and your spouse or civil partner in the event of divorce or dissolution of a civil partnership.
However, if you both have similar amounts invested in pension funds this may not happen. But if one partner has built up a significant fund while the other has stayed at home to look after children, for example, experienced divorce lawyers will be needed to help you understand the best method of making sure that this valuable asset is split fairly between you.
If a pension is to be divided between two spouses, your pension provider will be able to give an up-to-date value for the fund. This figure will be used alongside the valuations of other shared assets in order to establish the financial settlement on divorce and there are several options as to how a pension may be used to help do this. Please check our FAQs for more details.
We strongly advise consulting one of our expert family lawyers as soon as you decide to separate so that we can examine all the relevant issues related to your pension and divorce. Please contact our team today on 03333 058375, or email firstname.lastname@example.org We are here to help you.
We work closely with our colleagues in Wealth Protection to ensure you receive the best possible advice and guidance across issues including estate planning, trusts, wills, international issues, pensions and more. Please get in touch with one of our expert family law team members today on 03333 058375, or email email@example.com
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Partner, Head of Divorce & Family
Consultant, Divorce and Family Law
Consultant, Divorce & Family
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