When a marriage sadly breaks down, it is necessary to look at the assets that both parties have. From many years of experience, we have learned at Blythe Liggins that the assets that the parties initially draw our attention to are, for example, the value of the family home, the value of any savings, bonds and ISAs etc.
All of the above assets are obvious and at the forefront of clients’ minds. It is only when we delve into the value of the pension funds in some cases that it becomes apparent that, surprisingly, the value of the pensions can be greater than the totality of the other matrimonial assets combined. In many instances, the value of their respective pension funds very often comes as a complete revelation to our clients.
Pensions are, therefore, very much on the agenda when it comes to reaching a fair and reasonable financial settlement. Recently, one of our top family Judges, HHJ Hess, has provided guidance on how pensions should be treated within divorce proceedings. It is important to get this right because pensions, over the passage of time, can increase exponentially in value and are an essential asset for those parties to divorce proceedings who ultimately retire. The Family Law department at Blythe Liggins is happy to advise clients on their options regarding pensions when it comes to divorce proceedings and a financial settlement. Contact them on our main switchboard number of 01926 831231 or via firstname.lastname@example.org.
CAPTION: Andrew Brooks, Partner and Head of the Family Department