The Divorce IFA Blog
For all things pensions & divorce...
The Value of Pension Expert Reports
Nov 19, 2014
I was reminded this week of why I recommend that Solicitors and clients specifically employ actuaries to undertake pension sharing and pension offsetting reports. And this inspired me to write this blog on pension expert reports.At the moment there is a lot of choice when it comes to who to use for …
The Local Government Pension Scheme changed from a Final Salary basis to a Career Average Revalued Earnings “CARE” basis for pensions accrued from 1st April 2014.This means that over time the cost of providing defined benefit pensions should reduce as the final pension is calculated based on an aver…
Groundbreaking Pension Sharing On Divorce Study
May 12, 2014
The first detailed study into pension sharing on divorce since its introduction in England and Wales in 2000 has recently (March 2014) been published by Hilary Woodward and Mark Sefton of Cardiff University.It is accessible via orca.cf.ac.uk/56700 and the Key Findings at orca.cf.ac.uk/56702.The stud…
Financial Mediation coming soon…
May 07, 2014
I am pleased to announce that I will shortly be embarking on mediation training with The Family Mediators Association to support the work I am currently doing with my clients and solicitor contacts.The FMA, established in 1988, is a membership organisation for family mediators. They are a lead body …
Pension Annuities on Divorce
Dec 03, 2013
This blog is about reversionary interests.Reversionary what I hear you say. Well when a annuity is set up it is often done so on a joint life basis. This means that on the demise of the first life the benefits are paid to the joint life for the rest of his or her days on usually a 50% basis but it c…
It seems like the CETV has taken on a mythical like status these days with even clients paying much more attention to what they are and whether they are accurate. So what are they? What is contained in them and what importantly is left out?I am old school and prefer separating the two transfer value…
Dodgy Pension Expert Reports
Sep 27, 2013
As part of the work I do I am often contacted by solicitors, and clients going through divorce directly, to look at pension reports and to comment. The worry I have is that from this relatively small sample of what must actually be out there, is the number of basic errors and the poor methodology be…
New CSA Rules
Apr 16, 2013
In divorce, there are few issues that stir up as much controversy as child maintenance.Most non-resident parents (NRP) pay maintenance on a sliding scale depending on how many children they have with the resident parent. A child is classed as either:Under 16Under 20 and in full-time education (but n…
The End of Legal Aid
Mar 14, 2013
Cuts to the legal aid budget that come in next month are going to leave many vulnerable families deprived of vital services that only professionals can supply.I can’t really understand where the government is coming from on this one. Often when cuts are imposed there will be some alternative offered…
Technically speaking the cash equivalent transfer value (CETV) represents the expected cost of providing the member’s benefits within the scheme.In divorce settlements, thought needs to be given as to whether the CETV is the most appropriate method of valuing the overall pension benefits. Considera…
Dead End Marriage
Mar 06, 2013
Wife divorces husband over map-reading argumentYou have to feel a certain amount of sympathy here for Mark Powell. None of us know what goes on behind closed doors and even the most seemingly rock-solid couple might fight like cat and dog away from prying eyes; however, divorcing over a map reading …
Hiding Assets During Divorce
Mar 04, 2013
Not a good idea. Of course it may seem unfair to have to declare assets that were acquired before you got married; or assets that were solely paid for by you during the marriage, but the fact is if you aren’t up front about your finances during divorce then you are risking a spell in prison.Accordin…
The Rising Cost of Divorce
Mar 01, 2013
You can’t get divorced unless you get married. Aside from stating the obvious, I’m underlining the point that these days marriage seems little more than a precursor to divorce. It was only within the last week that I heard an acquaintance remark about how much more fun his divorce is compared to his…
Offshore Divorce
Nov 27, 2012
We all know, or know of people that have managed to get married abroad. It probably doesn’t work out much more expensive than a lavish ceremony on these shores. Wouldn’t it be curious to find an agency set up to help you get divorced abroad?“They got divorced? When did that happen?”“Yeah they’ve bee…
…..and that figure is unnervingly low. There are nearly twice as many women over 50 without a pension when compared with men over 50.It seems clear then, that many women are not even asking the question upon agreeing a divorce settlement. It is more important now than ever before that the question o…
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