Finding an equitable way to share the matrimonial assets during divorce can be one of the hardest parts of the process. Ensuring both parties can fulfil both their short term and long term financial objectives, can prove to be a difficult balancing job.
Amongst our team, we have a Resolution accredited specialist adviser.
We have considerable experience and knowledge of the divorce process, and its technical complexities, enabling us to provide a holistic advice and planning service to your clients.
Step 1: The Matrimonial Asset Review
Having a correct and up to date valuation of all the matrimonial assets held by both parties is just the start. From this, both parties need to understand the options available.
The review also identifies existing life cover and other protection policies, highlighting whether there is an ongoing need to maintain the cover and how this can be best achieved.
Step 2: The Pension Options Review
For every pension scheme held, the options of pension sharing with internal or external transfer, attachment orders, and offset should all be considered. However, not all options are available with all schemes, so knowing which will give both parties the best financial position now and in the future, can be difficult.
Our review provides an unbiased assessment of the options, highlighting the advantages and disadvantages of each, whilst providing guidance on how the pension assets should be divided to gain an equitable settlement.
Step 3: The Pension Transfer & Implementation Service
Where an external share has been agreed by both parties, the receiving spouse will require advice on where and how the new pension investment should be invested.
Our independent analysis reviews all options, taking into account each of the types of scheme available including:
- Stakeholder style schemes
- Personal pensions
- Self-Invested Personal Pensions (SIPPs)
Plus, any occupational scheme of which the receiving spouse is already a member.
It provides clear recommendations on the type of plan and investment funds which should be used to help them achieve their financial goals.
We will help with the implementation of the pension sharing annex to ensure that all regulatory requirements are met, and the transfer invested exactly as the receiving party wishes.
Step 4: Appointment as Financial Planner
By being formally appointed as Financial Planner, we will be with the client every step of the way. We will provide them with regular planning meetings and an ongoing assessment of how their investments and pension plans continue to meet their needs.