One of the main assets to consider upon separation is a pension.
Even if you are not yet of pensionable age, pensions are an important factor in your future income and what resources are available to you.
A court can make several orders in relation to pensions.
The most common type of order is a pension sharing order.
Other than the state pension, most pensions are capable of being shared. Depending on the scheme, you may be able to set up another pension with the same company, or you may need to create a new pension elsewhere.
The value of a pension is not straightforward. Its value for one person can be different for another. Therefore, it cannot be looked at as part of the overall picture as just another asset.
Sometimes it will be appropriate to involve an expert to prepare a report on the different variations of how the pension can be valued.
Although this is an added expense, sometimes it can be invaluable in terms of negotiating the correct percentage share to be applied.
If there is a pension sharing order, we can put you in touch with people who can advise you on the most appropriate way to invest your pension share and assist with all your financial arrangements.
Contact us for free and speak to an experienced member of our Family Law team on 023 92 483322.
Alternatively, complete the form here and we will call you.