• How the changes in pension drawdown rules might affect you

    The changes in the pension drawdown rules earlier this year have been well-publicised.  As from April 2015 a person aged 55 or over has the option to draw a tax free lump sum of up to 25% of the value of their pension. While this gives the person holding the pension more flexibility it can have adverse consequences for their spouse in divorce.   There is now a risk that a spouse who reaches the age of 55, prior to a final Financial Order being made, could withdraw 25% of the value of their pension in an attempt to dissipate …

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  • The danger of not having a financial order on divorce

    One of the main concerns of couples who are getting divorced, is the finances. Typically both parties will want to make sure that an agreement is in place that is fair and workable and that gives each of them a degree of financial security.   Where the assets are straightforward couples can sometimes reach an agreement between themselves, but problems can occur much further down the line if their agreement has not been approved by the Court at the time of the divorce. This problem can also arise where the parties have reached no agreement at all but have just …

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