Case Study 6 - The Wealthy Divorcees

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

  • 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.
  • How to factor in the Irish pension which was not subject to UK law.

What We Did

  • Advised share needed to be 54%:46% in Mrs B’s favour rising to 58%:42% ignoring the Irish pension.
  • 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.
  • 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.

What Our Clients Say...

I couldn’t have done it without him...
“Due to the complexities of my divorce it took just short of 3 years for the finances to be concluded. During this time Phil was a constant source of support. His advice and guidance was especially important and gave me the courage to continue to fight for what was legally mine.

Linda his PA was also extremely supportive and I found the team at The Divorce IFA very helpful at all times.
I would not hesitate to recommend Phil’s services. I couldn’t have done it without him.”
Jane Ashurst - Wigan

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