Andrew Smith highlights the first reported decision in which the Pension Advisory Group report has impacted on the approach of the court to pension assets ‘In the first reported case to feature specific reference to the PAG report, the judge drew heavily on the opinions within that report, stating that it should “be treated as …
Continue reading "Pensions: Lessons to be learnt"
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James Copson looks at the recommendations in the Pension Advisory Group report and highlights the potential pitfalls when dealing with pension assets ‘It is much harder to achieve a fair outcome where there is a significant difference in the ages of the parties.’ An understanding of pensions is a must for every family lawyer working …
Continue reading "Pensions: Equality or not?"
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Wills & Trusts Law Reports | Spring 2019 #174A company was incorporated by the husband and a friend in 1978 as equal shareholders. The husband and wife started living together in 1986, and married in 1989. At this point, the husband acquired 99% of the shares and the wife 1%. They separated in 2015.
On a wife’s application for a financial remedy order, the judge found that the capital assets were £182m in properties and pension funds, and 100% of the shares in a private company, which he valued at £221m before tax and costs of sale. He found that 80% of the company’s value was marital property, by applying a straight-line ap...
Alice Couriel highlights issues of enforcement to be considered on the making of an order for financial provision ‘Practitioners have a duty to consider enforceable provisions at all stages of proceedings, and the court’s far-reaching discretion often assists in this regard.’ In Amin v Amin [2017] the Court of Appeal was concerned with an appeal …
Continue reading "Financial provision: Planning ahead"
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Amanda Bell and Alasdair Wild highlight pension reforms that may impact on the structure of a financial settlement on divorce ‘It is worth considering whether there is a potential lifetime allowance problem, and whether the redistribution of pension assets between the two parties as a result of a pension sharing order could help to reduce …
Continue reading "Pensions: Opportunities and threats"
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Eleanor Aguirre summarises best practice when dealing with pension sharing ‘The law and practice on pension sharing is not straightforward, but equally it is not the impossible minefield many of us fear.’The majority of financial cases involve pensions in one guise or another. Since the advent of pension sharing orders, they have become the most …
Continue reading "Pensions: Fair shares"
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