Changes in pensions and divorce legislation have made advising clients far more challenging for all concerned.
Whilst a practice may be familiar with the legal aspects, the practical application may prove to be more difficult. Pension Sharing in particular is not straightforward and obtaining transfer values is not as easy as it seems. The type of pension scheme, or schemes, the attitude of the ceding scheme trustees and required documentation must all be considered.
Even after achieving a satisfactory settlement, the case may remain open if a Shared Pension has yet to be completed.
There is no clear simple solution to the distribution of assets in any divorce settlement - when pensions are introduced the matter becomes even more complicated.