Case Study 3 - The Wealthy Divorcees

Assets

Background

Mr & Mrs B were aged 48 and 52, in good health, with two teenage children. Mr B ran a successful business from land and buildings owned by one of his pension schemes. Substantial asset base.

Concerns

  1. How to provide an adequate split of the assets which enabled Mr B to continue to run his business and Mrs B received a fair settlement.
  2. How to factor in the Irish pension which was not subject to UK law.

What we did

  1. Advised share needed to be 54%:46% in Mrs B’s favour rising to 58%:42% ignoring the Irish pension.
  2. We advised that Mrs B needed to resign as a trustee from the pension plan to ensure Mr B had full control of his pension assets.
  3. A sharing order for 100% of Mrs B’s pension was drawn up in favour of Mr B.

The results

  • Mr B retained land and buildings within his pension and retained his business.
  • Mrs B took the bulk of the other assets.